Trump's New Tariffs Take Effect Today, Unsettling Crypto Markets

As the Trump administration tightens customs controls, cryptocurrencies tremble. Between fleeting euphoria and brutal economic reality, the market reveals its vulnerability to geopolitical shocks. A dizzying drop that raises the question: is crypto a true safe haven or merely a mirror of global turmoil?

Bitcoin and Ether in freefall: the domino effect of customs tariffs

The blow is violent. In less than 24 hours, bitcoin loses 10%, flirting with $83,700, while Ether collapses by nearly 15%, diving to $2,082 – an unprecedented level since November 2023. These figures, chilling, reflect a harsh truth: Trump’s announcements on customs duties have triggered a shockwave well beyond traditional markets.

Yet, everything had begun under the best auspices. Just this past weekend, investors were welcoming the announcement of strategic reserves in crypto by the US government.

A firework quickly extinguished. “The bulls didn’t last 48 hours,” quips Peter Chung from Presto Research. Disappointing PMI indices, the drop in orders, and recession forecasts (-2.8% GDP in the first quarter) have further undermined confidence.

But the real catalyst? The 25% tariffs on Canada and Mexico, coupled with a 20% tax on Chinese imports.

“Trump has poured oil on a fire that is already gaining strength,” analyzes Kevin Guo from HashKey Research. Cryptos, perceived as risky assets, have been swept away by a wave of panic. The gains from the previous day? Erased. The optimism? Reduced to ashes.

Crypto and recession: a forced marriage with unpredictable consequences

Behind the red numbers lies a darker narrative. Cryptos, often presented as a shield against inflation, are now revealing their sensitivity to macroeconomic tensions. “Trump’s tariffs are just the beginning,” warns Rachael Lucas from BTC Markets. Trade retaliations could amplify the crisis.” A nightmare scenario where crypto, instead of protecting, would amplify the shocks.

The ETFs, a discreet barometer of confidence, confirm the trend. On Monday, bitcoin funds suffered net outflows of $74 million, a brutal turnaround after positive inflows on Friday.

For Ether, the hemorrhage has lasted eight days. “Institutional investors are fleeing,” details Lucas. After a 600% rise since 2022, the market is exhausted.” Extreme greed, high financing rates… The signals of a reversal were there.

A crucial question remains: is this correction beneficial? For Chung, “a cooling was inevitable.” But the duration of this freeze will depend on the next political decisions. Trump promises further announcements at his crypto summit this week. Between the hope for a rescue plan and the fear of new protectionist measures, traders hold their breath.