In another volatile trading day, the S&P 500 recovered from a drop while Bitcoin rose again. President Trump is set to announce new tariffs on trade partners Thursday.
Trump Announces New Tariffs
White House spokesperson Karoline Leavitt stated that U.S. President Trump will impose new tariffs on a wide range of trading partners starting April 2, taking immediate effect. Trump is expected to announce the details of the new tariffs at 4:00 PM Eastern Time on Thursday. These steps may disrupt the current global trade system, causing concerns among economists predicting slower economic growth.
Bitcoin Rises with Markets
Amid expectations of the tariff announcement, the S&P 500 recovered from a 1% drop, and Bitcoin climbed above $85,000. This movement of the cryptocurrency coincided with positive shifts in stock markets, indicating a connection between these assets during economic uncertainty.
Tether's Bitcoin Market Strategy
Tether confirmed the purchase of 8,888 Bitcoins in the first quarter, increasing its total holdings to 92,646 Bitcoins. This purchase is part of a long-term strategy to diversify reserves and strengthen the company's financial stability. At current prices, Tether's assets yield an unrealized profit of approximately $3.86 billion.
The period of uncertainty in global markets continues, with an intense Thursday expected as new tariffs are announced. Meanwhile, major crypto projects are revising strategies to adapt to changing conditions.
