The impact of the U.S. tariff increase on the cryptocurrency market presents a multidimensional dynamic game. In the short term, the economic uncertainty and market panic caused by the tariff policy lead to severe fluctuations in cryptocurrency prices.

In the long term, the impact of the tariff policy depends on its deep-seated effects on the macroeconomy. If tariffs drive up U.S. inflation (for example, if the CPI exceeds expectations and rises to 4.5% in April 2025), Bitcoin may attract institutional funds due to its "digital gold" properties, similar to its performance during the pandemic in 2020. Additionally, tariffs may weaken the dollar's dominant position, promoting de-dollarization trends and creating alternative demand for cryptocurrencies. For instance, countries like Russia and Iran have avoided sanctions through cryptocurrencies, while China’s countermeasures may further stimulate the use of cross-border payment tokens.

The responses of different cryptocurrencies vary. Bitcoin, as the largest asset by market capitalization, has increased correlation with traditional risk assets, making it susceptible to short-term market sentiment. However, its long-term inflation-resistant properties may become more pronounced. Stablecoins have seen significant increases in trading volumes due to heightened demand for safe-haven assets, becoming a "safe haven" for capital. Meanwhile, altcoins (such as SOL and DOGE) may experience short-term declines of 20%-30% due to active high-leverage trading, but some tokens have performed outstandingly during market rebounds.

Policy and regulatory risks should not be overlooked. The U.S. government may strengthen tax or compliance requirements for the cryptocurrency market due to economic pressure, suppressing long-term capital inflows. At the same time, global regulatory differences (such as China's export controls) may exacerbate market uncertainty. Investors need to pay attention to policy developments and changes in market liquidity, avoid excessive leverage, and monitor regulatory trends from agencies like the SEC.

Overall, the impact of the U.S. tariff increase on cryptocurrencies is not one-sided; there are both short-term shocks and long-term opportunities. The market needs to digest policy uncertainty, while the decentralized nature and inflation resistance potential of cryptocurrencies may gradually emerge amid economic turmoil. #美国加征关税