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Tariff Madness Sparks Massive Bitcoin Volatility, Major Ripple Purchase
By Jordan Lyanchev - Apr 11, 2025, 01:50 PM ET
Last Updated - Apr 11, 2025, 02:45 PM EDT
Most larger-cap alts have posted big losses over the past week.
US President Donald Trump made some big moves on the Trade War scene that he started, which led to substantial volatility in the cryptocurrency markets all week. Let’s unpack.
After last week’s ‘Liberation Day,’ in which the POTUS announced taxes on all countries of at least 10%, while many big partners got higher percentages, bitcoin’s price went on a rollercoaster that only worsened in the past five trading days.
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The weekend was sluggish, during which BTC spent trading sideways at around $82,000 and $84,000. However, the asset started to lose value on Sunday evening and Monday, especially, when it dumped to a five-month low of just over $74,000.
After an unsuccessful recovery attempt, BTC dropped once again to those levels on Wednesday as Trump warned China that he would raise the tariffs against it to 104% if Beijing didn’t retract its own retaliation taxes. Even more madness took place in the following days as the US President paused the tariffs against all other countries, except for China (which were raised to 125%).
Bitcoin reacted to all that news, charting multi-thousand-dollar pumps and dumps frequently. The pause, though, led to a surge from under $77,000 to over $83,000 within hours on Wednesday and Thursday, perhaps also supported by the favorable CPI data for March. BTC was stopped at that point and now sits at around $82,000, which is essentially the same spot as last Friday’s valuation.
In contrast, ETH, which dumped to $1,400 earlier this week and erased all gains from the past seven years, is down by 13% on a weekly scale, even though it has recovered to $1,570 as of press time. XRP, DOGE, TON, ADA, and XLM are also with big losses, while PI, OKB, and HYPE are with the most substantial gains.
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