Bitcoin and other cryptocurrencies suffered significant losses Apr. 3, after US President Donald Trump announced new tariffs. Bitcoin fell 5% to US$81,849.63, while ether and solana dropped 7% and 13%, respectively.

The broader stock market also declined, with the S&P 500 set for its worst day since September 2022.

Shares of crypto-related companies like Coinbase and MicroStrategy fell over 7%.

Trump’s tariffs, starting at 10% with higher rates for some countries, raised fears of a global trade war.

“Bitcoin is currently trading more like a high-beta macro asset, heavily influenced by global liquidity signals and rate expectations,” said Ben Kurland, CEO at crypto research platform DYOR.

Bitcoin has been fluctuating between US$80,000 and US$90,000, closely mirroring equities.

David Hernandez, crypto investment specialist at 21Shares, noted Bitcoin’s ability to hold key technical levels, signaling strong demand. He added that the tariffs exceeded expectations but might provide clarity for institutional investors.