Bitcoin bull market in peril as US recession and tariff worries loom
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US tariffs amplify Bitcoin's volatility, but there could be a silver lining for BTC price.
In the first three months of his presidency, Donald Trump has ignited trade tensions by announcing tariffs on Canada, Mexico, and China and the result has been unexpected turmoil in US and global markets.
The fallout from the tariffs has been relatively swift, and the impact has been felt across the crypto market. As of March 8, the US president had backed away from some plans to impose tariffs on certain Mexican and Canadian goods—another twist in the rollercoaster of US trade policy that continues to shake markets.
Singapore crypto trading firm QCP Capital said in a note. “This week’s crypto markets have been nothing short of a roller coaster. With macro conditions in flux, crypto remains tightly linked to equities, with price action reflecting broader economic shifts.”
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