Bitcoin Wobbles Around $68K as Trump's Tariff Bomb Rattles Crypto Markets

Your Sunday Crypto Portfolio Just Got Trumped

Bitcoin slumped to $67,526 on Sunday, extending its weekly decline to 2.1% as President Trump's latest trade salvo sent shockwaves through risk assets. The culprit? A global tariff hike to 15% that came despite—or perhaps because of—a Supreme Court ruling that had seemingly tied the administration's hands.

This isn't just another market dip. It's a reality check for anyone who thought crypto had decoupled from traditional macro forces. When trade tensions spike, digital assets still behave like the risk-on investments they've always been, not the "digital gold" safe havens some hoped for.

The Tariff Defiance That Spooked Markets

Here's what makes this move particularly unsettling: Trump raised the worldwide tariff rate from 10% to 15% just after the Supreme Court invalidated his earlier emergency trade measures. Instead of backing down, the administration doubled down, applying the same 15% levy to China and U.S. allies alike.

The 150-day window attached to these tariffs creates a ticking clock scenario. Markets hate uncertainty, and they especially hate uncertainty with a deadline. European lawmakers are already signaling hesitation over the Turnberry Agreement, wanting "clearer commitments" from Washington before moving forward.

Crypto's Red Sunday Massacre

Bitcoin wasn't alone in its misery. The selloff swept across major cryptocurrencies like a digital wildfire:

Ethereum dropped 1.8% to $1,951, down 2.5% for the week. XRP took a harder hit, falling 4.4% daily and 8.4% weekly to $1.39. Solana declined 3.8% to $83.25, while Dogecoin shed nearly 5% on the day and over 11% for the week.

Even the typically more stable BNB couldn't escape, easing 2.3%. Cardano dropped 4.3%. The breadth of the decline suggests this wasn't about any single cryptocurrency's fundamentals—it was about risk appetite evaporating across the board.

The Macro Puppet Strings

What's particularly striking is how tightly crypto remains tied to macro headlines. Despite years of institutional adoption and regulatory clarity in some jurisdictions, digital assets still dance to the tune of trade policy and geopolitical tensions.

For crypto traders, this creates a challenging environment. Traditional technical analysis and on-chain metrics matter less when a presidential tariff announcement can trigger 5-11% swings across the entire sector.

Winners and Losers in the Tariff Game

While crypto investors lick their wounds, some sectors benefit from trade tensions. Traditional safe havens like Treasury bonds and the dollar typically strengthen when risk assets sell off. Domestic manufacturers in protected industries might celebrate, even as exporters and importers face higher costs.

The irony isn't lost on crypto enthusiasts who once viewed Bitcoin as a hedge against exactly this kind of government intervention in markets.