BTC, ETH, DOGE price news: Bitcoin drops to $67,000 as Trumps tariff tentions return

The cryptocurrency market is facing renewed pressure as Bitcoin's price slips back toward $67,000. This downturn is largely attributed to the recent decision by President Trump to increase the global tariff rate to 15%, a move that has reignited trade uncertainties. Investors are now weighing the implications of this tariff escalation against a changing legal landscape in the United States.

Trump's tariff increase adds pressure to crypto and equity markets

In the latest trading session, Bitcoin was priced at approximately $67,526, reflecting a decline of about 1.4% over the past day and a 2.1% drop for the week. This price action follows Trump's announcement to raise tariffs from 10% to 15%, despite a recent Supreme Court ruling that had invalidated certain emergency trade measures. The court's ruling had initially suggested a limitation on the government's ability to impose widespread tariffs ahead of Trump's planned visit to Beijing on March 31.

Major cryptocurrencies experience significant price declines

The impact of these tariff changes has been felt broadly across the cryptocurrency sector. Ether experienced a decrease of 1.8%, falling to $1,951, and has declined by 2.5% over the past week. XRP saw a sharper drop, plummeting 4.4% in a single day and 8.4% over the week, now trading at $1.39. Other cryptocurrencies like Solana and Dogecoin also faced losses, with Solana dropping 3.8% to $83.25 and Dogecoin shedding nearly 5% in one day, marking an 11% decline for the week.

Ongoing global trade issues create uncertainty for investors

The trade tensions are not limited to the U.S. and China. European lawmakers are expressing reluctance to advance the Turnberry Agreement, seeking clearer commitments from Washington regarding trade policies before proceeding. This uncertainty adds another layer of risk for investors, who are already wary of the current economic climate.

Crypto prices influenced by broader economic and trade developments

Currently, the crypto market remains closely tied to macroeconomic factors. As long as the tariff policy lacks stability and clarity, digital assets are expected to continue moving in tandem with general risk sentiment rather than responding to developments unique to the cryptocurrency space. Traders and investors should stay alert to how ongoing global trade issues might further impact the digital currency market.

For those looking to navigate these turbulent waters, understanding the relationship between macroeconomic trends and cryptocurrency prices will be crucial in making informed trading decisions.