The post Bitcoin Dips Below $86,000 Amid Market Turmoil Following Trump’s Tariff Announcement appeared on BitcoinEthereumNews.com.

According to recent reports from COINOTAG on March 28th, former President Trump has imposed a 25% tariff on all non-U.S. manufactured vehicles. This decision has ignited fears of a trade war, particularly as he warned Canada and the EU of even more severe tariffs in case of retaliation. The announcement has overshadowed positive economic indicators, leading to a decline in U.S. stock markets for two consecutive days; the S&P 500 fell by 0.33%, the Dow decreased by 0.37%, and the Nasdaq slid 0.53%. This volatility has spilled over into the crypto market, with Bitcoin dropping below $86,000 but later recovering slightly to around $87,216, reflecting a 0.4% decrease over 24 hours. Ethereum and other major cryptocurrencies similarly experienced minor declines, with Ethereum hovering near $2,000. Market sentiment remains pessimistic, constrained by uncertainty surrounding Trump’s tariffs. In commodities, the U.S. dollar index recovered by 0.25%, while oil prices were pressured despite a significant decline in U.S. inventories, highlighting dampened demand expectations. Conversely, heightened safe-haven sentiment propelled spot gold prices up by 1.23%, exceeding $3060 and reaching an all-time high. Investors are now bracing for the February PCE inflation data set to be released tonight at 20:30, with expectations of around 2.5% year-on-year inflation. In this climate, financial trading platform 4E has recently introduced a USDT stablecoin product, promising an annualized return of 8%, providing a potential hedging instrument for investors. 4E advises stakeholders to remain vigilant regarding market volatility risks and to adopt prudent asset allocation strategies as Trump’s tariffs loom. Source: https://en.coinotag.com/breakingnews/bitcoin-dips-below-86000-amid-market-turmoil-following-trumps-tariff-announcement/

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Filed under: News - @ March 28, 2025 4:19 am