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

Dangote Refinery Petrol Price Drop Sparks Hope for Cheaper Fuel Nationwide

Nigerians may soon enjoy relief at fuel stations as the Dangote refinery petrol price drop ...

Former Boko Haram Members De-radicalised

Yobe State to Reintegrate 390 Ex-Boko Haram Members After De-Radicalisation Programme

The Yobe State Government has announced its readiness to reintegrate 390 former Boko Haram members ...

Muhammed Salah signs new contract

Mohamed Salah Extends Stay at Anfield

Mohamed Salah has signed a new long-term contract with Liverpool FC, extending his stay at ...

Bauchi State

Man Arrested for Sexual Assault of Minor Daughter in Bauchi

Police detain father accused of impregnating 17-year-old biological daughter. The Bauchi State Police Command has ...

Features

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

​Bitcoin, the pioneering cryptocurrency, has captivated the financial world with its innovative technology and notable ...

Guinea Sets September 2025 Date for Constitutional Referendum as Military Inches Toward Democratic Transition

Guinea Sets September 2025 Date for Constitutional Referendum as Military Inches Toward Democratic Transition

Guinea’s military-led government has officially announced that a national referendum on a new constitution will ...

Ivory Coast economic growth

Côte d’Ivoire’s Economic Boom Faces Political Test in 2025 Election

Ivory Coast’s Economic Success: A Model for West Africa Côte d’Ivoire has emerged as one ...

Phillis Wheatley

Phillis Wheatley: The Trailblazing African American Poet Who Defied Oppression

Phillis Wheatley: A Pioneer in Black Literature and Poetry Phillis Wheatley was a groundbreaking poet ...

Women Participation in Politics

International Women’s Day 2025: Advancing Rights, Equality, and Leadership for African Women

The 2025 International Women’s Day (IWD) theme, “For ALL Women and Girls: Rights. Equality. Empowerment,” ...

Bromate

Bromate Use in Bread: The Hidden Health Risks

Potassium bromate, a banned additive in bread production, poses serious health risks, including cancer. Learn ...
Wema Bank

Wema Bank targets fraudulent activities as it suspends seven fintech partners

Tackling Fraud in Nigeria’s Fintech Sector: Wema Bank’s Bold Steps Nigeria’s financial technology (fintech) sector ...

The Rise of West African Startups: A Tech Revolution

The rise of West African startups is transforming the region’s tech ecosystem, with fintech and ...

Latest News

Today in History

April 23rd is the day in 1910 that Theodore Roosevelt made his The Man in the Arena speech.

Exchange Rate Per Dollar

AM Armenian Dram388.9141
GH Ghana Cedi15.3978
GM Gambian Dalasi71
GN Guinea Franc8,657.9
NG Nigerian Naira₦1,607.42
CF CFA Franc BEAC575.1424
23 Apr · CurrencyRate · USD
CurrencyRate.Today
Check: 23 Apr 2025 13:05 UTC
Latest change: 23 Apr 2025 13:00 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?