Crypto Market Sheds $130 Billion as Trump’s Tariff Plans Take Effect

April 1, 2025

2 minutes read

Crypto market crash Trump tariffs

The cryptocurrency market saw a massive $130 billion loss last week as investors reacted to President Donald Trump’s upcoming tariffs, set to take effect this week. Dubbed “Liberation Day,” the tariffs will target imports worth over $1.5 trillion, sparking fears of broader economic turbulence.

Bitcoin’s Slide Below $82,000

Bitcoin (BTC) dropped below $82,000, trading at $81,700 as of Monday morning. This marks seven consecutive days of decline, fueled by investor concerns over the ripple effects of Trump’s tariffs on global markets.

Crypto Market Performance Over the Week:

  • Bitcoin (BTC): -5.9% (Current: $81,700)
  • Ethereum (ETH): -10.9%
  • Ripple (XRP): -15%
  • Solana (SOL): -10.1%

Despite the bearish sentiment, institutional interest in Bitcoin remains strong, with continued inflows. Analysts have mixed outlooks, with Stockmoney Lizards predicting a local bottom at $80,000 – $82,000, while Peter Brandt warns of a potential bearish wedge breakdown, which could see BTC plummet to $65,635.

XRP’s 40% Drop from Recent Highs

Ripple (XRP) has taken a steep 40% plunge, dropping from $3.40 to $2.19 despite the SEC dropping its case against Ripple.

Key XRP Levels:

  • Support: $1.77
  • Resistance: $3.21 (breakout needed for a bullish reversal)

Trump’s Tariffs and Their Impact

Key Tariff Developments:

  • April 2 designated as “Liberation Day,” marking the imposition of tariffs exceeding 20% on targeted imports.
  • Auto and pharmaceutical industries among those expected to face 25% tariffs.
  • Potential escalation: The Wall Street Journal reports that Trump’s administration may increase tariffs across the board by up to 20%.

These aggressive trade measures have spooked financial markets, with U.S. stock futures slipping and crypto investors bracing for further volatility.

What’s Next for Crypto?

Bearish Short-Term, Possible Reversal Ahead – While the short-term outlook is negative, some analysts believe institutional support could drive a recovery in the coming weeks.

XRP’s Consolidation Could Lead to a Breakout – If XRP breaches the $3.21 resistance, a bullish rally could follow.

Crypto’s Future Hinges on Economic Impact – Market performance will depend on how Trump’s tariffs affect global trade and financial stability.

As April 2 approaches, all eyes are on the unfolding tariff policies and their impact on cryptocurrency, global trade, and financial markets.

 

Share:
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Related Links

RUSSIA DRONE

Russia Successfully Tests Nuclear-Powered Underwater Drone

Russia announced on Wednesday the successful trial of a nuclear-capable, nuclear-powered underwater drone. The weapon, ...

US AND XI

US and China Reach Trade Truce: Trump Touts Deal with Xi

United States President Donald Trump announced on Thursday that he had secured a major agreement ...

Melissa

Jamaica Struggles to Recover After Hurricane Melissa

Hurricane Melissa has devastated the north coast parish of St. Ann, leaving residents in crisis. ...

Chelsea

Chelsea Boss Enzo Maresca Calls Liam Red Card ‘Very Stupid’

Chelsea’s head coach Enzo Maresca didn’t hold back in criticizing striker Liam Delap’s late sending-off. ...

Features

Countries Aircraft

African Countries with the Largest Military Aircraft Fleets in 2025

Africa’s military aircraft fleets are key for defense, surveillance, and peacekeeping. In 2025, several nations ...

Countries

Top 10 African Countries with Best Salaries in 2025

Africa’s job market is growing fast. In 2025, some countries offer great pay. This list ...

Kanye West

New Documentary Explores Kanye West’s Turbulent Journey

A new documentary, In Whose Name?, directed by Nico Ballesteros, offers an intimate look at ...

japa

Top 9 African Countries Sending Immigrants to the United States

Africa’s influence in the United States continues to expand through immigration. Many individuals from the ...

GOLD_3_6

Top 10 Countries Benefiting from Gold Trading in 2025

Gold trading drives wealth for nations with large reserves. In 2025, countries with significant gold ...

FNB-Stadium

Top 10 Most Expensive Stadiums in Africa for 2025

Africa’s sports infrastructure shines with world-class stadiums built for football, rugby, and major events. These ...

Gold

Top Gold-Producing Countries in Africa for 2025

Africa remains a global leader in gold production, contributing significantly to the world’s supply. In ...

digital-nomad-visa

Top 10 Digital Nomad Visa Countries for 2025

As remote work continues to thrive, digital nomad visas offer professionals the chance to live ...

Latest News

Today in History

In the early 1940s, the FCC assigned television`s Channel 1 to mobile services (like two-way radios in taxis) but did not re-number the other channel assignments.

Exchange Rate Per Dollar

AM Armenian Dram382.6852
GH Ghana Cedi10.8746
GM Gambian Dalasi72.5
GN Guinea Franc8,678.84
NG Nigerian Naira₦1,451.47
CF CFA Franc BEAC565.5826
30 Oct · CurrencyRate · USD
CurrencyRate.Today
Check: 30 Oct 2025 12:05 UTC
Latest change: 30 Oct 2025 12:00 UTC
API: CurrencyRate
Disclaimers. This plugin or website cannot guarantee the accuracy of the exchange rates displayed. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You can install this WP plugin on your website from the WordPress official website: Exchange Rates🚀

YOUR THOUGHTS

Let us know what you think

Contact the People’s Paper with feedback on stories and how we could make wapress.africa even better!

newsletter image

Stay up to date with the latest from West Africa Press

Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on WApress.

Subscribe Newsletter!

Be the first to receive our latest contents and more...

Need help?