Bitcoin Falls as U.S. Mutual Tariffs Take Effect

White House Press Secretary "Imposing 104% Tariffs on China"
BTC Continues Mid-Day Downs At The Beginning Of Tariff War
ETH Down 6.5%...The Decline in Altcoins Intensified on Apr. 9
Experts Expect BTC Rally..."Weaker Yuan Will Drive BTC Rise"

Bitcoin(BTC) fell as U.S. President Trump announced on Apr. 9 that mutual tariffs by countries took effect.

The cryptocurrency market plunged on the morning of Apr. 9 due to President Trump's remarks that predicted a total of 104% tariffs on China.

On the afternoon of the 8th, President Trump left a comment on his SNS "Truth Social," saying, "The dialogue is open and we are also waiting for dialogue with China." Bitcoin touched about $81,000, including a rise in the U.S. stock market, in President Trump's comment.

However, hours later, White House press secretary Caroline Levitt announced that "we will impose 104% tariffs on all of China," adding that "this will take effect at 0:01 on the 9th."

As the high tariffs announced by President Trump took effect in earnest, the cryptocurrency market continued to be weak.

Bitcoin continued to decline during the day on the 9th, remaining weak from $77,000. Ethereum (ETH) was down about 6.5%, the biggest drop among major altcoins.

◇Bitcoin = Bitcoin price is $77,675 at 4:30 p.m. on Apr. 9, 2025. The Bitcoin share(dominance) was 63.49%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 71.08% and 28.92%, according to the on-chain analytics platform Sigbtc.

Despite the decline of Bitcoin due to the tariff war, there were many public opinions predicting the rebound of Bitcoin. Analysts say that China's yuan will fall due to the tariff war, which will benefit Bitcoin.

"The People's Bank of China (PBOC) will give us good materials," BitMex CEO Arthur Hayes said on his X account on the 8th. "It is a good narrative for Chinese capital that depreciates the Chinese yuan to flow into Bitcoin." "This happened in 2013 and 2015 and could happen in 2025," he said.

"Disregard the current fears," Haze, who attaches a graph of the devaluation of the Chinese yuan, wrote.

Bybit CEO Ben Zhou expressed the same opinion. CEO Ben Zhou explained, "China will watch the yuan weaken to respond to the trade war," adding, "This means that a lot of Chinese capital can flow into Bitcoin."

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Apr. 9 was ARDON(ARDR), up about 66% on the day alone.

ARDON is an open-source multi-chain BaaS (Blockchain as a Service) platform created by the Zelurida Foundation by improving the existing NXT and is also called NXT 2.0.

The monetary unit is an ARDR token and the main chain token of the Arthur network, used for the creation of new blocks and the payment of governance and transaction fees for network consensus.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered an 'extreme fear' phase with 18 points. This phase is accompanied by high volume and strong volatility. It can be considered as a buying segment for institutions as it is highly likely to enter the market at a low point.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 43.0, which was 'neutral'. The RSI sets the relative strength between the upward and downward pressures of a particular asset price and is an indicator of the over-buying and over-selling measures of a particular asset.

권승원 기자 ksw@blockstreet.co.kr