Bitcoin Holds Ground as Trump’s Tariff Move Shakes Traditional Markets
Bitcoin remained stable despite heightened volatility in traditional markets after President Donald Trump accelerated his tariff plans.
In a Truth Social post, Trump announced that tariffs on Mexico and Canada would begin on March 4, alongside a 10% tariff on Chinese imports—contradicting earlier signals that these measures would take effect in April.
The announcement sent shockwaves through equities, with Nasdaq 100 futures cutting gains to 0.6%, S&P 500 futures flattening, and Dow futures dipping into the red. The U.S. dollar index, meanwhile, spiked 0.5%.
Crypto markets, having already faced heavy selling pressure in recent days, showed resilience. Bitcoin (BTC) traded largely unchanged at $85,600, suggesting traders had already priced in macroeconomic risks.
