The courses of Bitcoin (BTC) and other cryptocurrencies seemed to go back in the right direction yesterday, but in the late afternoon Donald Trump put a stroke in the way. The frustrating trade war has continued to escalate with new high import duties on Chinese products. Bitcoin lost almost 7 percent of its value in a short time, and old coins went downhill even faster.
BTC course gives up recovery
Monday was a historically bad day for the financial markets, and Bitcoin rushed to his lowest prize on this day since November 7, 2024 of $ 74,400. The day will be remembered as a black Monday, all thanks to the flood of import tariffs that Trump announced last week. A day later, Bitcoin recovered – and especially the stock markets – but yesterday Trump inflated investors again.
On Tuesday, Bitcoin rose to $ 80,000, but the course started to fall again after 4:00 p.m. The recovery was destroyed at a quick pace. President Trump announced a strong increase in tariffs to Chinese products by 50 percent. This measure came as a direct reaction to China’s retaliation decision, in turn to increase the tariffs to American goods by 34 percent. With this increase, the overall customs on Chinese products to unprecedented 104 percent
This trade escalation has the Bitcoin course drop strongly. By almost 7 percent to be precise. A low point of $ 74,500 was reached at 3:30 am, only $ 100 more than last Monday.
Bitcoin is now a little higher at almost $ 77,000. But another correction towards $ 70,000 now seems to be an increasingly realistic scenario. In this regard, $ 80,000 is an important level that has to be recaptured.
At the time of writing, the BTC Prize on the Coinbase crypto tour is $ 76,990. On the crypto exchange Bitpanda the BTC price is in euros at 69,642. Compared to 24 hours ago, BTC is 3.23 percent in the minus.
Ethereum one of the biggest losers
Investors fear that the trade war will be much further out of control, and of course this also affects the Altcoin market. Almost every coin was very important yesterday, just like Bitcoin.
Is not for the first time Ethereum (ETH) A striking loser. The Altcoin king is currently almost 7 percent lower than 24 hours ago at a price of $ 1,470. Other large old coins such as Ripple (XRP), Solana (SOL) and Cardano (ADA) perform significantly better with losses of just a few percent.
Bitcoin today: FOMC protocol
Tonight at 8:00 p.m. German time we get an insight into the protocol of the last meeting of the Federal Open Market Committee (FOMC), the policy organ of the American central bank. Three weeks ago, it was decided to leave the interest rate unchanged, and we are now getting details about the position of the decision -makers. The market is leaving for interest rate reductions and hopefully waiting today’s protocol.