Bitcoin Holds Around $100K as Altcoins Plunge Amid Trump’s Tariff Shock

Bitcoin remains resilient at $100,000, while altcoins face heavy losses following President Donald Trump’s announcement of new tariff on Canada, Mexico, and China. The move has triggered a major sell-off in the crypto market, with investors seeking safety in BTC as uncertainty looms.

Bitcoin Steady, Altcoins Hit Hard

Despite the turmoil, Bitcoin (BTC) has maintained its ground around $100K, reinforcing its reputation as a safe-haven asset. However, the altcoin market is bleeding, with major tokens experiencing double-digit losses:

📉 Ethereum (ETH): Down -12.3% 📉 Solana (SOL): Down -15.7% 📉 Cardano (ADA): Down -17.5%

With over $534 million in liquidations, traders are shifting funds into Bitcoin, avoiding higher-risk altcoins amid fears of a worsening trade war.

Bitcoin Move After Trump’s Tariff Spark Turmoil

Key Development: President Trump’s tariff hike on imports from Canada, Mexico, and China has raised concerns over global economic instability.

https://www.bloomberg.com/ Source : Bloomberg

🔸 Impact on Crypto:

Increased fear of inflation and interest rate hikes

Traders favoring BTC over volatile altcoins

Stock and commodity markets also reacting negatively

The market’s reaction highlights Bitcoin’s growing role as a hedge during times of political and economic uncertainty.

What’s Next for Bitcoin and Altcoins?

Market analysts are split on how crypto will respond moving forward:

Bullish Outlook: Some expect Bitcoin to rally beyond $100K as investors seek protection against inflation and economic turbulence. Bearish Warning: Others caution that rising interest rates could pressure all risk assets, including BTC. This is also based on the weekly bearish divergence which is still active