#BTC #ETH #TRUMP After the initial shock from the latest U.S. tariffs, the cryptocurrency market is showing signs of recovery.

Following U.S. President Donald Trump's announcement of new tariffs on steel and aluminum, the digital asset market faced a temporary downturn but is now rebounding. According to a statement on February 9, the administration imposed a 25% tariff on imported steel and aluminum, with plans to introduce reciprocal tariffs on nations that levy import duties on U.S. goods.

Trump defended the move, stating, *“If they charge us 130% and we charge them nothing, that’s unacceptable.”*

In response to the announcement, the crypto market saw a sharp decline, with Bitcoin briefly dropping to $94,000 before recovering above $97,000. Ether followed a similar trajectory, falling to $2,537 before rebounding to $2,645. The total market capitalization of digital assets, as reported by CoinMarketCap, declined from $3.15 trillion to $3.10 trillion before climbing back to $3.13 trillion.

Market sentiment remains cautious, as reflected in the Cryptocurrency Fear and Greed Index, which has stayed in the *fear* zone. The index dropped from 46 to 43 on February 10, indicating persistent uncertainty among investors.

Trump has also hinted at further tariffs targeting the European Union, particularly in sectors such as superconductors, oil, natural gas, steel, and copper. Earlier, on February 1, the administration imposed a 25% tariff on imports from Canada and Mexico and a 10% tariff on Chinese goods. This move triggered volatility in both traditional and digital markets.

Ben Zhou, co-founder and CEO of BT, estimates that the total settlement volume linked to market fluctuations could be between $8 billion and $10 billion. However, following Trump’s temporary suspension of tariffs on Mexico and Canada for 30 days on February 3, the cryptocurrency market showed signs of stabilization. While the suspension provided temporary relief, Trump has left open the possibility of reinstating tariffs after the period ends.