Ex-Goldman Sachs analyst: Trump tariffs could boost Bitcoin

Crypto markets remain under pressure amid expectations of new tariff announcements. The US President Donald Trump's administration is expected to roll out a set of duties on April 2—a date referred to as 'Liberation Day'.

Bitcoin has plunged over 20% from its historic highs since January, tumbling to the $77,000 level in March. Investors are growing wary of cryptocurrencies' correlation with risk assets like stocks and bonds, which are being weighed down by macroeconomic uncertainty and recession fears, CoinDesk reports.

According to ADM Investor Services analyst Marc Ostwald, gold's rally reflects both diminishing risk appetite and central banks’ moves. Meanwhile, Bitcoin has temporarily lost its safe-haven status. Still, analysts, including experts at Grayscale, believe the potential tariff impact has already been priced in by markets.

As former Goldman Sachs analyst Zack Pendl noted, the measures targeting 15 countries could drive short-term market gains and refocus investor attention on fundamentals. Bitcoin may strengthen its positions as a dollar alternative while maintaining its positive long-term trajectory, the expert added.