$BTC The impact of the U.S. tariff increase on the cryptocurrency market shows characteristics of short-term disadvantages and long-term differentiation. In the short term, the tariff policy exacerbates market risk-averse sentiment, leading to a sell-off of cryptocurrencies such as Bitcoin, with increased price volatility; for example, after the announcement of the tariff order in February 2025, BTC briefly fell over 7%. In the long term, due to expectations of inflation and a weakening of the dollar's credit, the 'digital gold' attribute of Bitcoin may be reinforced, attracting risk-averse capital inflows. Additionally, tariffs raise the cost of mining equipment, squeezing miners' profits, which may accelerate the centralization of mining. Demand for stablecoins may increase, but regulatory uncertainty is rising.