In April 2025, the U.S. tariff policy underwent dramatic changes, attracting widespread attention from the global economy and financial markets. Reports indicated that President Trump originally planned to impose high tariffs on multiple countries, including China, but ultimately decided to postpone equivalent tariffs on other countries for 90 days, maintaining only a 10% "baseline tariff," while the tariffs on Chinese goods were further raised from 104% to 125%, and even cumulatively to 145%. Meanwhile, certain electronic products such as smartphones and computers were exempted from high tariffs, bringing complex impacts to the market. Correspondingly, the cryptocurrency market experienced fluctuations—prices of cryptocurrencies like Bitcoin fell after the tariff news was announced but later rebounded due to changes in market sentiment. In this context, investors couldn't help but ask: Does the U.S. postponement of tariff increases mean that now is the right time to continue purchasing cryptocurrencies?
OKX Exchange Domestic Entry Navigation: https://href.host/okx
Background and Impact of Tariff Policy Adjustments#
The repeated adjustments of U.S. tariff policy appear to be a continuation of trade protectionism, but are closely related to domestic economic pressures. At the beginning of 2025, the U.S. stock market plummeted due to tariff fears, with the S&P 500 index recording its largest single-day drop since 2020, and a sell-off in the junk bond market indicating investors' concerns about economic slowdown. Additionally, the U.S. government's pressure to issue debt intensified, and the downturn in the bond market forced the White House to compromise on policy. Postponing tariffs on other countries may be aimed at stabilizing financial markets and buying more time to address domestic economic challenges. However, maintaining or even increasing high tariffs on Chinese goods indicates that the trade game between the U.S. and China is far from over.
This policy adjustment has multifaceted impacts on the global economy. First, the exemption of tariffs on electronic products, such as smartphones and computers, directly reduces the upward pressure on the prices of some consumer goods, which is beneficial for ordinary consumers. Second, the postponement of tariffs on other countries has eased tensions between the U.S. and other trading partners, providing a degree of stability to the global supply chain. However, high tariffs on Chinese goods may lead to further price increases for products imported from China, thereby pushing up inflation rates in the U.S. This means continued cost increases for American consumers and businesses that rely on imported goods.
In the financial markets, the unpredictability of tariff policies has increased market uncertainty. The Nasdaq index surged 12% after the announcement of the tariff postponement, marking the second-largest single-day gain in history, but this rise was more driven by short-term sentiment rather than improvements in long-term economic fundamentals. The cryptocurrency market was similarly affected. Bitcoin fell in early April due to tariff news but later rebounded due to safe-haven demand and market expectations for policy easing. The volatility of cryptocurrencies once again highlighted their close ties to the macroeconomic environment.
Current Status and Trends of the Cryptocurrency Market#
The cryptocurrency market in 2025 has significantly differed from the past few years. Prices of mainstream cryptocurrencies like Bitcoin and Ethereum have experienced multiple adjustments but remain at relatively high levels overall. Trump himself launched a personal cryptocurrency project in early 2025, which quickly soared to a market value of billions of dollars, further stimulating market interest in cryptocurrencies. However, regulatory risks still loom over the market like the sword of Damocles. The U.S. Securities and Exchange Commission (SEC) remains cautious about cryptocurrencies, and some Democratic lawmakers have even called for increased scrutiny of Trump-related projects.
From a technical perspective, advancements in blockchain technology have provided broader application scenarios for cryptocurrencies. For example, decentralized finance (DeFi) and non-fungible token (NFT) markets continued to grow in 2025, attracting significant capital inflows. Additionally, the promotion of central bank digital currencies (CBDCs) has made the competitive landscape for cryptocurrencies more complex. On one hand, CBDCs may weaken the market share of some cryptocurrencies; on the other hand, the proliferation of blockchain technology also supports the long-term development of cryptocurrencies.
In terms of market sentiment, the investor base for cryptocurrencies is changing. Institutional investor participation continues to rise, with traditional financial institutions like Goldman Sachs and Morgan Stanley launching cryptocurrency-related products. Meanwhile, retail investor enthusiasm remains high, especially driven by social media, with meme coins like Dogecoin still able to create short-term fads. However, high volatility means that cryptocurrency investment is still viewed as a high-risk activity.
The Relationship Between Tariff Policy and Cryptocurrency Investment#
The impact of the U.S. postponement of tariff increases on the cryptocurrency market is not direct, but can be analyzed through several aspects:
-
Changes in Safe-Haven Demand: Uncertainty in tariff policy typically drives up demand for safe-haven assets like gold and Bitcoin. The postponement of tariffs may reduce market panic, thereby decreasing short-term speculative purchases of cryptocurrencies. However, if the U.S.-China trade war escalates again, safe-haven demand may rise, pushing cryptocurrency prices up.
-
Inflation Expectations: High tariffs on China may lead to rising prices for U.S. imported goods, thereby increasing inflation rates. Under inflation expectations, investors may prefer to purchase Bitcoin and other assets viewed as "digital gold" to hedge against currency depreciation risks.
-
Dollar Trends: Adjustments in tariff policy may affect the exchange rate of the dollar. If the dollar strengthens due to restored market confidence, cryptocurrency prices may face downward pressure; conversely, if the dollar weakens due to economic uncertainty, cryptocurrencies may benefit.
-
Market Liquidity: Stock market fluctuations triggered by tariffs may lead investors to reallocate assets. If the stock market continues to rise, some funds may flow out of the cryptocurrency market; but if market turbulence intensifies, cryptocurrencies may become a choice for risk diversification.
Should You Continue to Purchase Cryptocurrencies?#
Regarding whether to continue purchasing cryptocurrencies, investors need to consider their risk tolerance, market trends, and macroeconomic environment comprehensively. Here are some suggestions:
-
Short-Term Investors: For investors seeking short-term gains, the current market uncertainty is high. The volatility of cryptocurrency prices due to fluctuating tariff policies suggests closely monitoring market dynamics and setting clear stop-loss points. Technical analysis tools like RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) can help determine buying and selling opportunities.
-
Long-Term Investors: For those optimistic about the long-term development of blockchain technology and cryptocurrencies, now may be a good opportunity to position themselves. Mainstream cryptocurrencies like Bitcoin have shown strong resilience over the past decade, and the entry of institutional investors provides more stability. Diversifying investments across different types of cryptocurrencies (such as Bitcoin, Ethereum, stablecoins, etc.) can reduce risk.
-
Risk Management: Whether for short-term or long-term investments, risk management is key. It is advisable to limit cryptocurrency investments to 5%-10% of the overall asset portfolio to avoid excessive exposure to high-volatility assets. Additionally, regularly reassessing the investment portfolio and adjusting positions based on market changes is recommended.
-
Regulatory and Policy Risks: U.S. regulatory policies on cryptocurrencies may tighten further in the future, and investors need to pay attention to the latest developments from the SEC. At the same time, regulatory attitudes from other countries (such as the EU and China's cryptocurrency policies) may also impact the market.
Conclusion#
The U.S. postponement of tariff increases has provided a brief respite for the global economy, but the long-term impact of the U.S.-China trade game cannot be ignored. The cryptocurrency market, in this context, presents both opportunities and challenges. For investors, whether to continue purchasing cryptocurrencies depends on individual investment goals and risk preferences. In the short term, market volatility may provide opportunities for traders, but caution is advised; in the long term, the potential of blockchain technology remains promising, but regulatory and macroeconomic risks must be heeded. Before making investment decisions, thorough research on market trends and reasonable asset allocation is essential for every investor.