From Cointelegraph

April 2, 2025 9:45 pm:

Crypto markets dipped following Trump’s declaration of a national emergency and tariffs on all countries. All countries face a 10% tariff starting April 5, with China at 34%, EU at 20%, and Japan at 24%. Bitcoin rallied to $88,500 but dropped to $82,876, while Ether fell to $1,797. Market cap dropped 5.3% to $2.7 trillion.

The Crypto Fear & Greed Index showed extreme fear at 25. Bitcoin has since recovered to $83,205, and Ether to $1,810. Stock markets also suffered, with the S&P 500 losing over $2 trillion in market cap. Analysts warn of more panic selling if countries retaliate against the tariffs.

Analysts attribute the brief market surge to “uncertainty relief,” followed by a sell-off once full tariff details were announced. Trading volume surged 46% on BTC Markets, with larger players taking profits and smaller investors hesitating. Analysts predict more panic selling if China or EU retaliate.

US Treasury Secretary urged against retaliatory steps, arguing the tariffs provide certainty for markets. Analysts see volatility during Trump’s speech but believe clarity on tariffs could benefit markets in the long term. Institutional investors may find opportunities in the coming days with reduced speculation and compressed valuations. Global responses will be crucial for market direction.

Read more at Coin Telegraph: ‘National emergency’ as Trump’s tariffs dent crypto prices