Bitcoin, Ether Extend Losses as Investors Brace for Prolonged Tariff Impact

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Bitcoin and Ether extended losses sharply during early Asian hours on Wednesday as fears of a prolonged US-China trade war deepened, with investors bracing for President Donald Trump’s sweeping new tariffs to take effect.

Crypto markets, like equities, reacted to mounting uncertainty, as hopes for near-term tariff concessions faded fast.

Bitcoin fell 5.6% to $75,523 by 01:34 ET while Ether slid 10.7% to $1,417. The broader cryptocurrency market also came under pressure, with total market capitalization falling 7.2% to $2.4 trillion in the last 24 hours, despite scattered gains in some altcoins.

Investor confidence weakened further after the White House confirmed on April 8 that the US plans to raise tariffs on Chinese goods to 104%, following Beijing’s pledge to retaliate against the move.