As the Deadline for US President Donald Trump's Tariff Nears, Cryptocurrencies Appear to Have Fallen Out of Favour

This also includes 25 per cent tariffs on Canada and Mexico, which were put on hold by Trump for a period of a month, again.

The deadline for US President Donald Trump's flat reciprocal tariff is nearing, in what can be called or deemed as one of the most important developments in the global economy. Wednesday, April 2, is when Trump's flat reciprocal tariffs, along with tranches of other targeted tariffs, are slated to hit.

This also includes 25 per cent tariffs on Canada and Mexico, which were put on hold by Trump for a period of a month, again.

In this mayhem and the whirlwind of headlines, cryptocurrencies, which are one of the biggest benefactors of Trump's victory in November 2024, appear to have fallen out of favour in the larger realm of intrigue and interest.

While some cryptocurrencies are trading with some level of resilience, they are still far behind the glory days from just over a couple of months ago.

When we take a look at some of the biggest names in the world of virtual currency, we see that Bitcoin, the largest of them of all, has gained a USD 3,448.60 or 4.29 per cent of its total value, in the past month of trade.

Meanwhile, just in the most recent times, that is, past five days or week, Bitcoin has lost 3.56 per cent or USD 3,098.29 of its total value.

As a result of this, the current value of Bitcoin hovers around USD 83,825.10.

What this picture may not show, the historic highs that the biggest name in the crypto-world had attained towards the end of 2024. In mid-December, Bitcoin was valued around a mammoth USD 1,06,000. Thanks to the ever-evolving volatility, that is no longer the case.

This development comes just weeks after US President announced his plans for a strategic crypto reserve in early March. This included a list of currencies, including Bitcoin, Ethereum, Solana and Ripple.

But the case, however, was not the same of Ethereum, as this crypto, had lost its value in the past month.

This is because Etheruem declined by 11.90 per cent or USD 253.94, taking the overall value to USD 1,880.61.

As per CoinMarketCap, the price of Solana dipped significantly in the past month of trade. Solana shrunk USD 124.36, thanks to a dip of 15.11 per cent in total value.

When it comes to Ripple, this cryptocurrency has had a better progress compared to Solana and Ethereum.

This is because Ripple gained 6.89 per cent or USD 0.14, dropping to USD 2.18.