Bitcoin, Dogecoin, and XRP prices react as tariff pressure mounts

After a brief cooldown, Donald Trump announced that he would impose a 25% tariff on cars, offsetting gains in Bitcoin, Dogecoin, and XRP.

Digital asset markets under pressure from Presidential comments Donald Trump threatened to impose new tariffs on core trading partners around the world. Other top altcoins are now in the spotlight as markets are uneasy about the macroeconomic impact of Bitcoin, given the potential impact of the latest update.

Bitcoin remains strong as markets fall

Bitcoin's price growth has stalled after the United States announced that it will impose high tariffs on non-US-produced cars. Building trade tensions have hampered its attempts to break the $90,000 price mark.

As reported by Coinspeaker, the cryptocurrency market is facing $2.23 billion in liquidations, with Bitcoin falling 6.5% after President Trump's earlier announcement of tariff hikes. A similar trend is gradually emerging.

Market data shows that the coin is trading at $87,315,20, with a slight drop of 0.93% in the past 24 hours. President Trump’s announcement that he will impose a 25% tariff on all foreign-made cars and auto parts on April 2 has sparked widespread uncertainty in the market.

Following the announcement, the stock market saw an absurd correction. For example, the S&P 500 (INDEXSP: .INX) fell 1.1%, while the Nasdaq Composite (INDEXNASDAQ: .IXIC) fell 2%. The Dow Jones Industrial Average (INDEXDJX: .DJI) was not immune, falling 0.31% to 42,454.79 points.

Meanwhile, gold prices rose sharply as investors turned to safer assets. This reflects the increased risk aversion in financial markets. Gold rose 1.2% to $3,053.91

President Trump’s latest tariff threat has increased uncertainty in global markets. If the European Union and Canada retaliate, economic pressures may intensify.

This tariff war is bound to further strengthen the strength of the US dollar. A stronger dollar tends to put pressure on digital asset prices as investors turn to these stable assets to avoid losing money.

Amid growing concerns, traders are still keeping an eye on the release of personal consumption expenditures (PCE) data, a key measure of inflation, on March 28. The Fed’s interest rate stance could change depending on the outcome of the report, which could affect risk assets such as cryptocurrencies.

Altcoins face mixed reactions

Notably, alternative cryptocurrencies have shown different trends to the latest developments.

Dogecoin rose 1.8%, continuing its recent bullish momentum following the tariff hike. However, real-time CoinMarketCap data shows the coin has fallen 3% to $0.1954.

Meanwhile, XRP fell 4% to $2.36, making it one of the biggest losers among major cryptocurrencies.

Other major currencies also joined the selling trend. Ethereum Solana fell 1.6% to $2.025, fell 3% to $137.51, and Cardano fell 1.9% to $0.7373.

Despite the current market volatility, some analysts see positive signs in Asian markets. Institutional investors in the region continue to push for policies that support cryptocurrencies. New funds and financial products are emerging in major markets such as Hong Kong and Singapore.