Cryptocurrencies

Bitcoin Succumbs to Risk Asset Slump as Trump Launches Tariffs

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By Muyao Shen, David Pan, and Suvashree Ghosh

April 2, 2025 at 9:20 PM UTC

Updated on

April 3, 2025 at 2:06 PM UTC

This article is for subscribers only.

Bitcoin and other major cryptocurrencies dipped after President Donald Trump imposed tariffs on US trading partners worldwide, triggering a slump in risk assets.

The largest digital asset fell as much as 4.5% to about $81,770 as of 10:06 a.m. in New York, while other tokens including Ether and XRP also declined. Solana tumbled 10%.