Bitcoin and Ether Prices Decline Amid Tariff Pressures from Trump Administration
Crypto Market Overview
As of April 9, 2025, the cryptocurrency market is facing significant downward pressure, primarily attributed to the recent tariff policies initiated by former President Donald Trump. This has resulted in a noticeable decline in the prices of major cryptocurrencies, with Bitcoin and Ether experiencing notable drops.
According to data from CoinMarketCap, the overall cryptocurrency market capitalization has decreased by 4.86% over the last 24 hours, now standing at approximately $2.42 trillion. The tariff policies, which were announced last week, have not only affected equity markets but have also had a knock-on effect on the cryptocurrency sector, driving investors toward safer assets like gold.
Current Prices and Market Trends
At 10:35 AM IST, Bitcoin was recorded at $76,307.79, down by 4.56%. It currently holds a market capitalization of $1.51 trillion, reflecting a decrease of 4.61%. Bitcoin’s trading volume for the past 24 hours reached approximately $52.78 billion.
Ether, the second-largest cryptocurrency, saw a more dramatic decline, plummeting by 9.04% to $1,447.98, resulting in a market cap of $174.74 billion and a trading volume of $25.58 billion.
In contrast, Tether, a stablecoin tied to the US dollar, maintained stability with a price of $0.9991 and a market cap of $143.88 billion. Solana, another cryptocurrency favored by Trump, had a price of $105.16 and a market cap of $54.22 billion.
Impact of Tariffs on Crypto Recovery
The imposition of a 104% tariff on Chinese goods by the Trump administration has raised concerns among analysts regarding prospects for a global trade war, which could have broader implications for cryptocurrency markets. Sean McNulty, head of APAC derivatives at FalconX, expressed a grim outlook, stating that investor confidence in a quick recovery for cryptocurrencies has dwindled.
“People seem to have given up on a major recovery in crypto for the first half of the year,” McNulty noted, indicating a shift in market sentiment as traders increasingly hedge against potential losses.
Riya Sehgal, a research analyst at Delta Exchange, added that Bitcoin’s recent fall below $75,000 underscores the significant influence of global trade tensions on digital asset volatility. With liquidations amounting to over $400 million and short positions comprising 60% of open interest, there is clear evidence of a wary investor approach.
Long-Term Perspectives Amid Short-Term Volatility
Despite current volatility, some experts maintain a cautiously optimistic long-term perspective on cryptocurrencies. Sehgal believes that while short-term fluctuations are likely, the foundational aspects of the crypto market remain robust, hinging on macroeconomic stability and regulatory clarity.
Furthermore, she noted the disbanding of the National Cryptocurrency Enforcement Team by the US Department of Justice, which may signal a move toward a more pro-innovation regulatory environment.
Edul Patel, co-founder and CEO of Mudrex, echoed a positive sentiment. He reported that Bitcoin has shown resilience, rebounding to $76,000 after testing its support zone around $74,500. “The Dollar Index has slipped to 103.0, diverging from Treasury yields—a potential catalyst for BTC’s near-term performance,” he commented.
According to analyses from Glassnode, increased buying activities among Bitcoin whales suggest a foundation for future price stability, with current resistance levels set at $79,700 and support levels above $74,000. Conclusion
As the cryptocurrency market grapples with the implications of recent tariff policies and global economic uncertainties, experts are weighing both the short-term volatility and long-term fundamentals that govern the space. While immediate recovery may appear bleak, underlying market dynamics continue to foster hope for resilience in the future.
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