The post White House to Scale Back Tariffs, Bitcoin Gains on Eased Economic Jitters appeared on BitcoinEthereumNews.com.

Bitcoin regained momentum Sunday and nudged up by as much as 2.7% following reports that the White House has signaled a more targeted approach to its April 2 tariffs, confirming it would likely omit sector-specific duties while still implementing “reciprocal tariffs” on major trading partners. The crypto market saw higher gains amid reports on Sunday afternoon from Bloomberg and the Wall Street Journal that Trump’s administration is narrowing its tariff strategy. Bitcoin traded above $86,700 by Sunday midnight, roughly twelve hours after the aforementioned reports emerged, showing resilience after volatile swings over the past week, which saw lows of $81,200.The alpha crypto is up 3.3% on the day, while the rest of the market has tracked up by 0.7% in total market cap, data from CoinGecko shows. This shift from a broader tariff implementation to a more targeted approach has eased concerns about immediate economic disruption.  Previous market fears had centered on Trump’s declaration of April 2 as “Liberation Day,” when he planned to impose sweeping tariffs across multiple sectors. Citing Treasury Secretary Scott Bessent’s pronouncements last week, the WSJ reported that the administration is looking to have tariffs applied to “about 15% of nations with persistent trade imbalances with the U.S.” It follows the Federal Reserve’s projections last week that it would hold interest rates steady. Meanwhile, two weeks before, the Consumer Price Index saw cooling numbers, marking 2.8% from February, which some investors are interpreting as signs of easing financial conditions.  While tariffs do not directly impact Bitcoin and broader crypto prices short-term, Zach Pandl, head of research Grayscale, previously told Decrypt Trump’s trade policies are part of a larger trend, with Bitcoin being “swept up in broader macro uncertainty.” This suggests that “higher policy uncertainty has caused investors to reduce portfolio risk across the board,” Pandl explained.…

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Filed under: News - @ March 24, 2025 7:26 pm