News View Non-AMP

Crypto Market Crash Today Amid Trump’s Tariff Threats; U.S. PCE Data in Focus

Published by
Nidhi Kolhapur

Markets took a hit Thursday after President Donald Trump threatened tougher tariffs on Canada and the EU, warning that their potential collaboration could hurt the U.S. economy. Cryptos like Dogecoin (DOGE), Ether (ETH), and XRP (XRP) dropped more than 5% in early Asian hours as traders locked in profits from earlier rallies. 

On Wednesday, Trump signed an order imposing a 25% tariff on auto imports and warned of more actions if the EU and Canada retaliate. This intensifies trade tensions, especially with reciprocal tariffs set to start on April 2.

Attention Shifts To US PCE Data

Major crypto coins saw an average drop of 4.5%, with DOGE leading the decline at 7%. The only exception was Toncoin (TON), which rose 5% in the last 24 hours. Bitcoin was trading at $85,925, down 1.8% in the last 24 hours, while Ethereum slid 5.1% to $1,923. The overall cryptocurrency market capitalization fell 2.35% to $2.79 trillion. Meanwhile, gold hit new highs, soaring above $3,109 in the Asian morning hours, continuing its strong rally since March.

All eyes are now on the U.S. personal consumption expenditure (PCE) report set to drop later today, which could move the market further.

Option Expiry Looming

Over $12.2 billion in Bitcoin options are about to expire, and market sentiment could be affected by the upcoming release of the U.S. personal consumption expenditure (PCE) data. With ongoing trade tensions and shifts in global monetary policies, Bitcoin could face reduced demand as a safe-haven asset, adding concerns to an already volatile market.

Bitcoin Could Face Reduced Demand

Traders from QCP Capital mentioned that Bitcoin’s price is moving sideways, and there is little optimism in the market right now, as shown by decreasing trading interest. They believe that any short-term price increase will be limited, especially with the upcoming release of the PCE Index data. Markets are waiting to see how President Trump will respond in the ongoing trade conflict, which is adding uncertainty.

As the U.S. economy faces more uncertainty from trade tensions and rising inflation, investors may shy away from Bitcoin and seek more stable assets to protect against inflation. This shift could impact Bitcoin’s price and its status as a safe-haven investment.

FAQs

How will the U.S. PCE data affect Bitcoin?

The PCE report could impact Bitcoin’s demand as a safe-haven asset, with inflation concerns influencing investor sentiment and price movement.

Why is Bitcoin facing reduced demand?

Bitcoin’s sideways price action, declining trading interest, and inflation fears are limiting optimism, making investors seek stable alternatives.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Are Stablecoins A Threat To Pi Network?

Stablecoins are becoming more popular in the crypto market. Thanks to their steady prices, backing…

July 1, 2025

Ripple Price Prediction As XRP EVM Ledger Goes Live

Ripple’s XRP is making headlines this week with a big development; the much-anticipated EVM sidechain…

July 1, 2025

Circle Files for National Trust Bank License in the U.S.

Circle Internet Group Inc. (NYSE: CRCL), a top-tier stablecoin issuer, has applied for a national…

July 1, 2025

Solana Did 100x After Binance Listing—KNCH Just Hit BitMart, LBank & XT (Better Tech, Lower Entry)

Kaanch (KNCH) is anticipated to create a great impression in the market through its future…

June 30, 2025

Arbitrum Price Analysis: Can Robinhood’s Involvement Boost Bullish Sentiment for $ARB Price Soon?

Arbitrum (ARB) price was the best performing top-100 altcoins by market cap in the past…

June 30, 2025

John Deaton Says Wall Street Greed Could Push XRP, ETH & SOL Into Treasuries

Years ago, when John E Deaton, a well-known crypto advocate and legal voice in the…

June 30, 2025