U.S. President Donald Trump's latest tariff salvo is spurring concerns over how global trade tensions could rattle crypto markets, as the measures took effect on more than 90 countries past midnight Thursday.

Minutes before the tariffs were set to go live, Trump took to Truth Social to tout the policy, claiming the duties would redirect “billions of dollars” into the U.S. economy from countries that he said have “taken advantage of the United States for many years, laughing all the way.”

The sweeping duties, framed as "reciprocal" tariffs, are aimed at countries the U.S. accuses of maintaining unfair trade advantages. While the crypto sector isn't directly targeted, analysts say the move could ripple through markets by influencing monetary policy, investor behavior, and infrastructure costs.

Min Jung, senior analyst at quantitative trading firm Presto, said most investors no longer expect a significant disruption from tariff headlines alone.

"It seems the market has become more immune to tariff-related headlines compared to when the first round of tariffs was introduced," Jung told Decrypt. "Unless there is a significant new escalation, most expect the crypto market to remain resilient."

Investors are closely watching the "broader impact of the tariffs," with particular attention to how these "might influence key economic data" the Federal Reserve tracks as they assess rate cuts.

While global markets initially leaned risk-off and pushed Bitcoin and Ethereum to sink over the past week, the implementation of the tariffs has reduced some of that uncertainty.

"This has become the new normal, and we expect volatility to gradually decrease as markets adjust," Jay Jo, senior analyst at Tiger Research, told Decrypt. Over time, "tariff tensions will disrupt trade flows and economic stability," Jo said, adding that prolonged trade friction could push more people toward using crypto as “alternative payment methods and stores of value.”

Mining matters

The new measures have already caused "short-term volatility" but could "boost interest in Bitcoin as a non-sovereign asset," Vincent Liu, chief investment officer at Kronos Research, told Decrypt.

Still, the tariffs may place "continued strain on blockchain ecosystems," with the broader impact hinging on how traditional markets and the U.S. dollar respond in the days ahead, Liu said.

The mining sector faced similar stress earlier this year when Trump first threatened sweeping tariff hikes. U.S.-based firms hurried to import ASIC machines before potential price hikes, chartering cargo flights and paying premiums to meet deadlines.

Some of those pressures are already being felt in crypto's physical infrastructure.

"At this stage, no monumental shift in the overall crypto market is expected as a direct result of the tariff-related developments," Jung said. "That said, in the Bitcoin mining ecosystem, rising hardware costs and logistical hurdles could accelerate shifts in mining locations, supply chains, and capital expenditure strategies."

Liu echoed this concern, warning that if tariff tensions persist, it could deepen the strain on miners, slowing development and concentrating power among “players with stronger supply chains.”

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