Trump's Tariff Threats and Asian Crypto Developments Impact Bitcoin and Altcoin Markets

On March 28th, global markets reacted to Donald Trump's threat of increased tariffs against the EU and Canada, causing a brief sell-off in risk assets, including Bitcoin (BTC), XRP, and Solana (SOL). Trump's post on Truth Social cited potential economic harm to the U.S. as the reason for the tariffs, which could disrupt economic stability and pressure the Federal Reserve to tighten monetary policy. XRP and SOL fell 2%, while Ether (ETH) and BNB remained stable. Dogecoin (DOGE) retracted gains. Sui Network's SUI surged 7%. Meanwhile, HashKey Capital suggests that Asian crypto developments, driven by pro-crypto regulations, could catalyze Bitcoin prices amid U.S. headwinds. BTSE's Jeff Mei noted that crypto's recent recovery despite stock market drops signals a potential upward trajectory as U.S. inflation fears subside and rate cuts approach. Traders are closely watching the upcoming release of Personal Consumption Expenditure (PCE) data, which influences Federal Reserve interest rate decisions.