Over the weekend, US President Donald Trump introduced a raft of new tariffs in response to a Supreme Courtroom determination that dominated many of his earlier tariff hikes unconstitutional.
Following information of the tariff hikes, crypto markets tumbled in an all-too-familiar sample that has plagued the business since April 2025, when Trump launched the first spate of aggressive tariffs.
Analysts have lengthy famous the downward stress these tariffs have placed on crypto markets. However the US’ forty seventh president additionally has the distinct capacity to pump markets.
Bullish feedback from the White Home have additionally moved the needle, which means each Trump’s actions and statements are influential. Right here’s a take a look at the occasions Trump has moved crypto markets.
Jan. 20, 2025: WLFI goes purchasing earlier than inauguration
The Trump household’s crypto venture, World Liberty Monetary (WLFI), purchased a number of totally different tokens simply hours earlier than he took his oath on Jan. 20, 2025. The tokens included wrapped Bitcoin (WBTC), Ether (ETH), Tron (TRX), Aave (AAVE), Ethena (ENA) and Chainlink (LINK).
The aggressive shopping for was a robust pro-crypto sign in the lead-up to his official blockchain agenda.
Bitcoin’s price elevated 4.5% after 24 hours. The seven-day chart confirmed a lower of 1.47%.
Jan. 23, 2025: Trump pronounces crypto job power
Trump signed government order 14178 simply three days after he took workplace. The order banned the chance of a US central financial institution digital foreign money and based the Presidential Working Group on Digital Asset Markets to “strengthen U.S. management in digital finance.”
This marked the starting of the Trump administration’s pro-crypto agenda. As neatly summarized by pro-crypto Senator Cynthia Lummis that very same day, “Large issues are coming.”
Bitcoin’s price elevated 1.34% on the day. On the week, it noticed a small acquire of 0.79%.
March 2-7, 2025: “Crypto Reserve” introduced
Trump introduced a proposal for a US “Crypto Reserve,” which listed a number of main tokens as strategic digital property.
Simply 4 days later, he signed an order to determine the Strategic Bitcoin Reserve and US Digital Asset Stockpile. The previous would comprise Bitcoin (BTC) seized by federal authorities in the course of legislation enforcement operations. The latter included a basket of totally different property, notably XRP (XRP), Solana (SOL) and Cardano (ADA).
Some Bitcoin advocates have been dissatisfied, as they anticipated the federal authorities to incorporate a plan to buy Bitcoin.
Instantly following the government order, the White Home held its first “Crypto Summit,” which introduced business leaders and officers collectively to debate digital asset coverage. Trump mentioned, “This can be a super alternative for financial progress and innovation in our monetary sector and can actually go a great distance.”
Bitcoin’s price remained comparatively unaffected for twenty-four hours after, reducing 0.75%. On the week, it misplaced 2.56%.
March 17, 2025: WLFI token sale completion
World Liberty Monetary’s public token sale concluded with an estimated $550 million in WLFI tokens offered, marking one of the largest fundraising occasions tied to the Trump-linked venture so far.
Critics and observers started to lift issues over Trump’s capacity to influence coverage — which instantly impacts him and his household’s private wealth. The Trump household has reportedly earned over $1 billion from WLFI since the venture’s inception.
Bitcoin’s price decreased briefly by 1.59% on the day. Its weekly chart noticed an enchancment of a 3.5% acquire.
March 20, 2025: Blockworks Digital Asset Summit deal with
Trump delivered a pre-recorded keynote deal with at the Blockworks Digital Asset Summit in New York Metropolis, selling US management in crypto and clearer legislative frameworks.
Trump criticized the Biden administration’s insurance policies on crypto, stating that he would instantly finish the “lawless” enforcement actions in opposition to crypto firms that began underneath “Operation Chokepoint 2.0.”
The occasion was not Trump’s first crypto convention look. Nevertheless it did mark his first as a sitting president and mirrored his readiness to have interaction with the crypto business at its personal occasions and platforms. “It’s not gonna be simple, however we’re manner forward,” he mentioned.
Bitcoin’s price was comparatively unchanged on the 24-hour chart, down solely by 0.1%. On the week, it rose +3.46%.
April 5, 2025: Trump pronounces “Liberation Day tariffs”
In the White Home Rose Backyard, Trump introduced a sweeping, across-the-board tariff hike on any nation that does enterprise with the United States. The tariffs began at a ten% minimal, with extra worth added relying on country-specific commerce deficits or surpluses.
The system utilized by the administration was extensively reported to include errors. It was criticized for holding “mathiness” — i.e., deceptive math to acquire or additional an financial aim.
Markets, together with crypto, have been initially pessimistic about the prospect of a renewed world commerce warfare and better costs for imported items in the US. Nonetheless, “purchase the dip” buying and selling conduct and merchants pricing in a brand new macro danger evaluation led to a fast restoration.
The rapid impact spooked markets, reducing Bitcoin’s price 5.7%. On the week, it recovered to a 2.14% acquire.
June 27, 2025: UAE fund invests $100 million in WLFI
The UAE-based Aqua 1 Basis invested $100 million in WLFI tokens, changing into a prime publicly disclosed institutional backer. The acquisition was supposed to hurry up the institution of a “blockchain-powered monetary ecosystem.”
Bitcoin’s price remained comparatively unaffected, up 0.23% on the day and 0.9% on the week after.
July 17, 2025: WLFI tradability authorised
WLFI holders overwhelmingly voted to make WLFI tokens tradable, transitioning the monetary ecosystem from closed participation to permitting secondary markets to type. The proposal handed overwhelmingly.
Sentiment on WLFI token updates didn’t leak into the markets extra broadly. On July 18, Bitcoin was down 0.86%, whereas every week later it noticed a small loss of 2%.
Sept. 1, 2025: WLFI tradable launch
The WLFI token started buying and selling on main crypto exchanges like Binance. Early traders have been solely allowed to promote 20% of their holdings, and based on Barron’s, founders like Trump and son Donald Trump Jr. weren’t allowed to promote their holdings in any respect.
Nonetheless, the token sale allowed for a big secondary market to type and confirmed how far the Trump title alone might promote a token. Preliminary purchases of WLFI have been restricted: Patrons couldn’t promote or switch them. The large curiosity in token gross sales, even earlier than they have been tradable, confirmed that Trump was capable of successfully put his model on crypto.
Whereas dipping in the few hours after WLFI buying and selling was authorised, Bitcoin noticed a 1.8% acquire on the day, and one week later, it was up 1.96%.
Nov. 5, 2025: “Bitcoin Superpower” speech in Miami
Trump spoke at the American Enterprise Discussion board in Miami, the identical metropolis the place he attended the world-famous Bitcoin convention as a candidate in 2024.
At the convention, Trump contrasted the US crypto coverage with geopolitical rivals, stating, “We’re making the United States, the Bitcoin superpower, the crypto capital of the world and the undisputed chief in synthetic intelligence.”
Whereas much less pronounced than his first crypto-related look in Miami, it however had a constructive, if temporary, affect on Bitcoin’s price. However the CLARITY Act was already stalling in the US Senate, and the price would quickly fall off.
Bitcoin’s price was nonplussed by Trump’s deal with. BTC was down 1.8% a day later and 1.5% after every week.
Jan. 23, 2026: US “leads world” in crypto at Davos
Trump spoke at the World Financial Discussion board in Davos amid a tense geopolitical sport of brinksmanship over Greenland.
In a rambling speech earlier than assembled world leaders, Trump, along with claiming that the US wanted Greenland for safety causes, famous the US management in crypto coverage over perceived rivals.
“We’ve got to make it in order that China doesn’t get the maintain of it, and as soon as they’ve that maintain, we’re not going to have the ability to get it again.”
Crypto markets gave a sigh of reduction afterward, however this was extra doubtless because of the undeniable fact that the US had supposedly struck a cope with Denmark and wouldn’t invade Greenland.
Bitcoin’s price briefly stabilized when Trump claimed that there could be a cope with Denmark over Greenland. Additional worries about commerce and heightened world tensions noticed Bitcoin down 6% every week later.
Feb. 18, 2026: World Liberty Discussion board at Mar-a-Lago
Wall Avenue executives convened at Mar-a-Lago, the Trump household’s resort lodge in Florida. The convention, which was organized by World Liberty Monetary, featured Goldman Sachs CEO David Solomon in addition to pardoned felon and Binance co-founder Changpeng “CZ” Zhao.
The assembly mirrored a broader, pro-crypto shift amongst banks in the US.
At the occasion, Franklin Templeton CEO Jenny Johnson envisioned a world through which blockchain works with conventional finance. “To me, I’m all the time attempting to know how that is evolving and notably at the crossroads of TradFi and DeFi,” she mentioned.
Trump’s son Eric Trump additionally famous the shift in tone on crypto and friendliness to the Trumps extra usually, “There’s individuals on this room that have been most likely on the reverse facet of us, that have been canceling financial institution accounts for us, that have been kicking us out of their massive banks for no motive apart from the undeniable fact that my father was sporting a hat that mentioned, ‘Make America Nice Once more.’”
Bitcoin skilled a quick increase after the discussion board and was up 1.3% a day later. On the week, it was comparatively unchanged, down 0.87%.
Feb. 22, 2026: Trump threatens additional tariffs
In the case of Studying Assets v. Trump, the US Supreme Courtroom dominated that the president had acted outdoors his authority in levying some of the tariffs which have come to outline his administration.
Successfully, it invalidated the tariffs Trump carried out utilizing the 1977 Worldwide Emergency Financial Powers Act (IEEPA).
Trump famous his disappointment in the Supreme Courtroom, notably in the justices whom Trump had nominated in his first time period. He then levied a ten% world tariff, this time utilizing the Commerce Act of 1974 as a justification.
Tariffs as soon as once more put downward stress on markets.
Bitcoin seems to be remaining in a holding sample, down 0.77% a day after the Supreme Courtroom determination and down 1.3% at publishing time.
Which strikes Bitcoin extra: Coverage or oratory?
Bitcoin has, at quite a few factors in its historical past, skilled price will increase and reduces based mostly on the feedback of influential individuals.
One distinguished instance is Tesla CEO Elon Musk, who spiked Bitcoin’s price practically 20% in 2021 simply by including the phrase “#bitcoin” to his X bio. His announcement that Tesla would settle for Bitcoin funds moved the price from round $39,000 to $44,000.
In phrases of uncooked share, Trump hasn’t moved the needle practically as a lot, however the panorama has additionally modified.
The crypto business is making important headway in the US. Congress is engaged on a crypto regulatory framework, and acceptance of crypto is rising at the highest ranges.
Of extra concern to crypto traders and institutional monetary actors is the lack of progress on the CLARITY Act. Tariffs additionally create financial uncertainty and improve costs on shopper items.
As crypto turns into extra built-in with conventional monetary markets, these prevailing macro-economic components have extra influence on Bitcoin’s price than any bullish oratory can.
