Bitcoin Hits $87K as Trump’s Tariffs & FDUSD Depegging Shake Markets
The financial landscape is experiencing a whirlwind of major developments, from President Trump’s tariff announcement to the FDUSD depegging and Bitcoin’s continued resilience. As global markets react to policy shifts, crypto traders are witnessing unprecedented price action in BTC. Let’s break down the key events shaping the market today.
Trump’s New Tariff Policy: Key Timings & Market Impact
President Trump’s trade policies are once again in the spotlight with a fresh round of reciprocal tariffs aimed at balancing international trade relations. The schedule of critical announcements is as follows:
- 9:00 AM ET → 6:30 PM IST – President Trump meets with his trade council to finalize tariff details.
- 11:30 AM ET → 9:00 PM IST – White House Press Secretary Karoline Leavitt provides a briefing ahead of the announcement.
- 4:00 PM ET → 1:30 AM IST (April 3) – President Trump delivers a Rose Garden address outlining the new tariff strategy.
- 4:30 PM ET → 2:00 AM IST (April 3) – Media engagement and official photo session follow the announcement.
- 6:00 PM ET → 3:30 AM IST (April 3) – Industry leaders are briefed on the implementation process.
- 8:00 PM ET → 5:30 AM IST (April 3) – Global markets react to the newly imposed trade restrictions.
How the Markets Reacted
The tariff announcement triggered volatility across traditional financial markets, but the crypto sector showcased remarkable resilience. Bitcoin, often considered a hedge against economic uncertainty, surged past $87,000, marking a 2.1% intraday gain as investors sought refuge in decentralized assets.
FDUSD Depegging: The Real Reason Behind the Crisis
The depegging of FDUSD has nothing to do with Trump’s tariffs. Instead, it stems from accusations made by Justin Sun against First Digital Trust (FDT), the issuer of FDUSD and the entity managing TUSD’s $501 million reserve. According to Sun, FDT has refused to redeem TUSD, raising concerns about its financial stability.
Sun further claimed that FDT is actually bankrupt and unable to redeem customer funds, fueling panic across the crypto community. Given that Binance holds approximately 94% of FDUSD’s total supply ($2.2 billion) and that BTC/FDUSD remains one of the most traded pairs on Binance, any instability in FDUSD can have ripple effects across the entire exchange ecosystem.
Traders are closely monitoring Binance’s next steps in stabilizing the peg, as any prolonged deviation could erode confidence in stablecoin liquidity across the market.
Elon Musk’s Future & DOGE Speculation
In a surprising statement from the White House, officials hinted that Elon Musk will depart from public service once his work with DOGE is complete. While the specifics of his involvement remain unclear, this announcement has fueled speculation within the Dogecoin community. Will Musk’s continued association with DOGE lead to new developments, or is this the beginning of the end for his influence over the meme coin space?
Bitcoin’s Stability Mirrors S&P 500
Despite the broader market turbulence, Bitcoin has demonstrated remarkable stability. Over the past 30 days, Bitcoin’s average intraday movement was -0.27%, aligning closely with the traditional equity market’s benchmark, the S&P 500. This growing correlation suggests that institutional investors are increasingly treating BTC as a legitimate financial asset rather than a speculative instrument.
Final Thoughts
From Trump’s aggressive tariff policies to the FDUSD crisis and Bitcoin’s sustained upward momentum, the market is at a crossroads. While traditional assets remain volatile, crypto continues to assert itself as a crucial player in the global financial system.As Bitcoin surpasses $87,000, traders are watching for key resistance levels and potential new all-time highs. The coming days will determine whether BTC can sustain its rally or if macroeconomic pressures will push it into correction territory.
