#BTCvsMarkets Bitcoin fell on Thursday in the market's initial reaction to Trump's broad tariff announcement, but its movement was small compared to most stocks and remained between $81,000 and $83,000.

"Cryptocurrencies in general are affected by funding rates and the available capital – if money is held back due to volatility and fee needs, then it impacts cryptocurrencies, investment, speculation, and location," said Davies.

"It’s important to remember that the U.S. represents only about 20% of cryptocurrency trading, and the world often moves on without the U.S.," he added. "Bitcoin has become a ready source of liquidity and has become a canary in the coal mine in a way regarding global liquidity – it responds first, but also rebounds first."