Bitcoin experienced a short-lived decline following a policy announcement from U.S. President Donald Trump, who said he would lift a temporary global tariff rate to 15%. The cryptocurrency later recovered, trimming losses and finishing the short session higher overall.
Market participants watched the around-the-clock bitcoin market for early indications of how the tariff change might influence sentiment when the majority of financial markets resume trading later in the weekend and into Monday. The initial reaction saw the world's largest cryptocurrency move lower immediately after the announcement, mirroring volatility across other risk assets tied to headline-driven policy shifts.
After the initial sell-off, bitcoin pared its losses and moved back toward prior levels. Despite the intraday swing, the main cryptocurrency remained up by 0.7% at the time of reporting.
Tariff announcement
President Trump said he would increase the temporary tariff applied to imports from all countries from 10% to 15%. The planned change follows a U.S. Supreme Court decision that ruled against parts of his emergency tariff program. On his social platform, he stated:
“I… will be… raising the 10% Worldwide Tariff… to the fully allowed… 15% level.”
Market context and trader behavior
Traders frequented the continuous bitcoin market to seek early clues about market behavior before many traditional markets opened. The cryptocurrency's immediate decline after the announcement reflected a broader pattern of volatility that can accompany significant policy headlines. The subsequent rebound saw bitcoin trade back near its earlier price range after mounted intraday pressure.
Information in this report is limited to the market movements and policy statements described above. Where details were not provided in source statements, this article reflects only the information available.