Bitcoin (BTC) experienced a swift and pronounced decline hours after U.S. President Donald Trump unveiled new tariff measures, collapsing to an intraday floor of $82,352 by 7:15 p.m. ET.
Trump’s Tariff Tremors
Traders swiftly mobilized, engaging in a high-stakes contest to reverse the digital currency’s trajectory, mounting a spirited but fleeting defense of the $83,000 level—a symbolic bastion of psychological support. The cryptocurrency’s vulnerability resurfaced Wednesday afternoon, hours after Trump’s “Liberation Day” remarks, as BTC briefly revisited its earlier low after a brief stint above $88,000.
Despite tentative stabilization near $82,000, the asset clung to a 2.5% 24-hour deficit. Trump’s policy declaration sent shockwaves through digital asset valuations, stripping 3.43% from the collective cryptosphere’s worth, which settled at $2.64 trillion at its weakest point. While BTC weathered a 2.5% contraction, ether (ETH) surrendered more than 6% of its value, and solana (SOL) relinquished 6.6%, reflecting heightened sensitivity among alternative tokens.
Derivatives markets bore the brunt of this upheaval, hemorrhaging $509 million in liquidations—$176 million extracted from BTC-focused positions—as 181,544 traders faced margin calls. Parallel disarray gripped after-hours traditional finance (TradFi): Futures pegged to the Dow Jones Industrial Average cratered by 918 points, while broader U.S. equity futures imploded following Trump’s revelation of tariffs exceeding 10%, with select nations confronting even steeper trade barriers.
By 7:20 p.m. ET Wednesday, BTC’s precarious equilibrium near $82,000 telegraphed mounting bearish sentiment, as selling pressure threatened to breach critical technical thresholds. In stark contrast, gold—often hailed as a haven asset—drifted upward, opening at $3,134 per ounce before methodically ascending to $3,152 by nightfall, its measured gains forming a quiet rebuke to crypto’s tempestuous theatrics.