Bitcoin Bounces Back Over 8% Amid Market Turmoil and Trump’s Tariff Policy Uncertainty

On March 12, COINOTAG News reported significant fluctuations in the US stock market due to President Trump’s repeated alterations to Canadian tariff policies. This resulted initially in market gains, followed by a sharp downturn triggered by the announcement of a 25% tariff on Canadian steel and aluminum. Although subsequent news indicated a pause in the tariff implementation and intentions for renegotiation, the negative trend persisted. A brief intermission in this saga came when Ukraine declared a 30-day ceasefire, which prompted a surge in large-cap tech stocks, briefly lifting the market before closing lower, with main indices ending in the red.

Cryptocurrency markets, however, displayed resilience as Bitcoin experienced a recovery from a low of $76,606, climbing above $83,000—a rise exceeding 8%. Likewise, Ethereum rebounded from $1,754 to $1,920, showcasing robust performance above 9%. This positivity led to a total cryptocurrency market capitalization of approximately $2.77 trillion, reflecting a 2.5% increase over 24 hours, suggesting improving market sentiment.

In parallel, the US Dollar Index saw a decrease of over 0.6%, with most of the trading day spent in negative territory. Meanwhile, an optimistic outlook for global oil inventories contributed to a slight uptick in international oil prices. Additionally, concerns regarding US tariffs fostered a rise in safe-haven gold, with spot prices garnering over 0.9% growth. The persistent uncertainty regarding Trump’s tariff policy continues to weigh heavily on the market sentiment, influencing investors ahead of the highly awaited CPI report due at 8:30 PM tonight. This report may have substantial implications for market direction.

4E, a trading platform facilitating investments in cryptocurrencies, stock indices, and more, has introduced a new USDT stablecoin product, promising an 8% annualized return, offering a potential hedge against market volatility. Investors are reminded to manage their assets judiciously, considering ongoing market risks.