President Donald Trump’s announcement of new tariffs on US trading partners has led to a decline in the value of Bitcoin and other major cryptocurrencies. The price of Bitcoin dropped by approximately 7%, reaching around $82,000, before rebounding. Other altcoins like Ethereum, XRP, and Solana also experienced significant losses. For example, Solana’s value plummeted over 9%. The tariffs, which include a 10% rate on all exports to the US and additional duties targeting specific countries, have contributed to a broader decline in risk assets as traders reacted to uncertainty in global markets. 60 countries are impacted by tariffs, including China (34%), the EU (20%), India (26%), and Japan (24%). While cryptocurrencies initially seemed unaffected by this news, they ultimately faltered as traders in Asia began their day, illustrating the volatility of the crypto market. John Wu, President of Ava Labs, argues that cryptocurrencies are often considered risky assets, not well-suited for periods like high-interest rates or trade tariffs. This sentiment is echoed by a drop in the S&P 500 ETF’s value, which fell by 2.5%. Market volatility and uncertainty remain key factors driving the market’s response to the new tariff announcements.