Cryptocurrencies: bitcoin falls with Trump’s tariffs, despite Lutnick’s remarks

Bitcoin was trading lower in the late afternoon on Thursday, 6, after showing some volatility during the session, with investors pondering new information on US President Donald Trump's tariff policies, while awaiting news on plans for a strategic bitcoin reserve, after US Commerce Secretary Howard Lutnick signaled an announcement tomorrow. David Sacks, Trump's crypto czar, confirmed that a meeting will be held at the White House tomorrow with the main names in the sector.

At around 4:30 p.m., bitcoin was down 1.88% at $88,177.75, while ethereum was down 1.09% at $2,191.91, according to Binance. According to Ripio analyst Ana de Mattos, "there is a high volume of buyers" of bitcoin today, which could lead the asset to seek out the $93,000 and $98,300 resistances. The short- and medium-term supports are at $83,900 and $75,900, respectively.

Traders echoed statements made by Strategy's CEO, Michael Saylor. A "strategic bitcoin reserve positions the US as a leader in the race to dominate cyberspace," he wrote on X. Also on the social network, Sacks stated that the US government has already sold around 195,000 bitcoins, generating revenues of 366 million dollars. "If the government had kept the bitcoins, they would be worth more than $17 billion today. That's the cost to American taxpayers of not having a long-term strategy," he published.

For Pepperstone, the restrained appetite for risk in assets such as cryptocurrencies should limit any move with a positive bias for digital assets today. The fallout from Trump's tariff policy continues to generate uncertainty in the market and keep investors away from riskier positions.

Today, Trump confirmed the postponement of tariffs on imports from Mexico for a month. However, the confirmation that the US will begin imposing reciprocal tariffs on April 2 continues to cause concern.