Bitcoin Parks Near $87K, Shrugs Off Trump’s US Tariff Speed Bump

• Bitcoin gained 2.84% on Wednesday to reach $88,296 before pulling back.
• Donald Trump imposed a 25% tariff on car imports to the US.
• Lower-cap cryptos surged following Trump’s newly imposed tariff.

The cryptocurrency market showed pockets of volatility over the last 24 hours, even as Bitcoin (BTC) remained stuck in a relatively tight trading range. The largest crypto by market cap gained just 2.84% on Wednesday, briefly touching $88,296 before settling back to close the US trading session around $86,913.

Market Backdrop: Trump Announces New US Auto Tariffs

Bitcoin’s minor daily fluctuation occurred around the time Donald Trump announced his administration had imposed new 25% auto tariffs on car and car part imports into the US, scheduled to take effect starting April 2nd. 

Charges on imported vehicles are set to begin April 3rd, with parts tariffs following later.

While Trump stated the goal is to boost the US auto industry, some analysts expressed concerns about potential negative impacts, including production slowdowns, consumer price increases, and strained international relations. Notably, BTC price showed very little of any direct reaction to …

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