The relationship between Bitcoin and U.S. tariff policy is mainly reflected in the following aspects:

1. Market sentiment and price fluctuations:

Changes in U.S. tariff policy have a significant impact on Bitcoin market sentiment. For example, after the Trump administration announced certain import tariff reductions, the price of Bitcoin broke through the $84,500 mark on April 14. However, when market expectations are not met, the price of Bitcoin may also experience a pullback.

2. Tariff revenue used to purchase Bitcoin:

The Trump administration indicated that it might use tariff revenue to buy Bitcoin, which has sparked widespread attention and discussion in the market. If this plan is implemented, it could have a major impact on the Bitcoin market and potentially drive Bitcoin prices further up.

3. Macroeconomic conditions:

Changes in tariff policy can affect macroeconomic conditions, such as inflation rates and interest rates, which in turn affect Bitcoin's price. Many investors view Bitcoin as a hedging tool against inflation, so during times of economic uncertainty, demand for Bitcoin may increase.

4. Market expectations and policy uncertainty:

Frequent adjustments to tariff policy and increasing uncertainty have heightened market volatility. For example, a series of tariff policy proposals and adjustments from the Trump administration have made investors uneasy, leading to significant market fluctuations. This uncertainty can also impact the Bitcoin market, making its price more sensitive and volatile.

5. Global trade tensions:

The trade tensions between the U.S. and China also have an indirect effect on the Bitcoin market. For instance, the U.S. imposing high tariffs on Chinese goods has led to turmoil in global capital markets, causing investors to reduce holdings of high-risk assets, which has also affected Bitcoin.

In summary, changes in U.S. tariff policy have multiple effects on the Bitcoin market, including market sentiment, price fluctuations, macroeconomic conditions, policy uncertainty, and global trade tensions. These factors work together to make Bitcoin prices exhibit significant volatility and sensitivity during changes in tariff policy.