$BTC

Trump’s tariffs, including 25% on Canada/Mexico, 145% on China, and reciprocal tariffs on others, triggered a Bitcoin (BTC) plunge from $109,000 in January 2025 to below $76,000 by April, mirroring a broader market sell-off (S&P 500 -6%). Investors fled risk assets, fearing inflation and a potential recession (60% likelihood, per JPMorgan). However, a 90-day tariff pause on 75 countries sparked a BTC rebound to $82,000. Long-term, analysts like Zach Pandl see tariffs weakening the USD, potentially driving BTC to $150,000 as a non-sovereign asset. Arbitrage opportunities exist in BTC/USD pairs amid volatility.