Cryptocurrency prices declined on Friday as global markets reacted to renewed trade tensions between the US and China. While US President Donald Trump temporarily suspended some tariffs, the move was overshadowed by a steep 145% tariff imposed on Chinese imports, prompting swift retaliation from Beijing.

The escalation spooked investors, pushing them toward safe-haven assets. The Swiss franc climbed to a decade high against the dollar, while gold touched a fresh peak.

As of 11:58 AM IST,Bitcoinwas trading at $80,955, down 1.5% over the past 24 hours.Ethereumslid 3.8% to $1,552. The globalcryptocurrency marketcapitalization fell 1.09% to $2.58 trillion.

“Currentcrypto marketand Bitcoin volatility is a product of the complex ballet of macroeconomic and crypto-native influences. Trump’s tariff reprieve and receding inflation are short-term reliefs, butinvestor sentimentremains cautious,” said Avinash Shekhar, Co-founder & CEO, Pi42, citing over $772 million outflows from spot Bitcoin ETFs.CoinSwitch Markets Desk noted, “The market turbulence was primarily driven by the US administration’s decision to impose a 145% tariff on Chinese imports. This triggered concerns over global growth and heightened market volatility.”

Edul Patel, Co-founder and CEO of Mudrex, said, “Bitcoin’s resistance is seen at $83,700, while support is at $75,000.”

Among altcoins, XRP, Tron, Toncoin, Stellar, Polkadot, and Pi Coin fell up to 4%, while Solana, Dogecoin, Cardano, Chainlink, and Shiba Inu traded slightly higher.

Bitcoin’s market capitalization dropped to $1.608 trillion, with its dominance rising to 62.39%. Daily trading volume plunged 41.6% to $44.88 billion, while stablecoin activity made up 95.93% of total crypto trading, reaching $98.28 billion, according to CoinMarketCap.

“If macro conditions improve, Bitcoin could aim for the $85,000–$87,000 range, where its 200-day SMA and EMA converge. Reclaiming this zone is crucial to confirm bullish momentum, with $88,000 as the next target,” said Vikram Subburaj, CEO, Giottus.

Also Read: What lies ahead for Altcoins: Looking at the future of diversified portfolios

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