The potential impact of the U.S. tariff increase on the cryptocurrency market may occur through multiple pathways: First, tariffs increase the prices of imported goods or exacerbate inflation, prompting the Federal Reserve to extend its high interest rate policy, suppressing market liquidity and curbing the valuation of risk assets like Bitcoin; second, if trade friction triggers stock market volatility, some funds may flow into cryptocurrencies seeking refuge, but a high-interest environment simultaneously weakens speculative demand; third, geopolitical tensions may accelerate the process of de-dollarization, promoting Bitcoin as an alternative reserve asset narrative. In the short term, the market may present a volatile pattern; if tariff policies trigger expectations of an economic recession, the appeal of cryptocurrencies as an anti-inflation target may strengthen, but one must be wary of the dual risks of policy uncertainty and tightening liquidity.