Bitcoin price today: steady at $84k on Trump tariff shock

Published 02/04/2025, 07:10
Updated 02/04/2025, 22:18
© Reuters

Investing.com-- Bitcoin fell slightly Wednesday after U.S. President Donald Trump announced harsher-than-expected tariffs, with China among the worst hit. 

Bitcoin fell 0.3% to $84,965.1 by 5:09 p.m. ET.

Trump tariff shock hits risk sentiment 

President Donald Trump said Wednesday the United States will impose reciprocal tariffs of at least 10% on all imported goods, with higher reciprocal rates for some nations that will be equivalent to "half" of the rate they levy on U.S. exports.

China, who charges a 67% of tariff on U.S. imports, will be among the among the worst hit, with new levy of 34%. That would be in addition to the 20% tariff on goods from China, taking the total rate to 54%.  

Trading partners are expected to announce countermeasures, setting the stage for a potential trade war. 

USDC issuer Circle files for US IPO, seeks $5 bln valuation 

Circle, the issuer of the stablecoin USDC, filed for an initial public offering to list on the New York Stock Exchange on Tuesday.

The company is reportedly seeking a $5 billion valuation, with JPMorgan and Citigroup (NYSE:C) serving as lead underwriters. 

The move represents Circle’s second attempt to enter public markets, after a planned merger with a special purpose acquisition company collapsed in 2022 amid regulatory challenges and a crypto market rout. 

A successful listing will make Circle one of the biggest publicly traded crypto firms in the U.S., behind Coinbase (NASDAQ:COIN) and major Bitcoin holder Strategy (NASDAQ:MSTR). 

But the company’s planned IPO comes amid volatile times for equity markets, with Wall Street nursing steep losses in the first quarter on concerns over Trump. 

Crypto price today: altcoins muted amid Trump caution

Broader crypto prices moved in a flat-to-low range, seeing little buying action ahead of Trump’s widely anticipated tariff announcement. 

World no.2 crypto Ether inched higher 0.2% to $1,870.98, while XRP fell 2.3% to $2.09.

Solana fell 0.6%, Cardano fell 1.7%, while Polygon fell 0.9%.

Among meme tokens, Dogecoin fell 2% higher, while $TRUMP fell 1.7%. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.