$BTC The U.S. tariff increase may impact the cryptocurrency market through multiple channels: First, tariffs raise the prices of imported goods or exacerbate inflation, prompting the Federal Reserve to extend high interest rate policies, suppressing market liquidity and putting downward pressure on valuations of risk assets like Bitcoin; second, if trade frictions trigger stock market volatility, some funds may flow into cryptocurrencies seeking safe haven, but the high-interest environment simultaneously weakens speculative demand; third, geopolitical tensions may accelerate the de-dollarization process, promoting the narrative of Bitcoin as an alternative reserve asset. In the short term, the market may show a volatile pattern. If tariff policies trigger expectations of economic recession, the appeal of cryptocurrencies as inflation hedges may increase, but one must be wary of the dual risks of policy uncertainty and tightening liquidity.