The price of Bitcoin steadied after initial declines following news of potentially high tariffs on Chinese imports, outlined by the White House. The Trump Administration indicated that tariffs could reach as high as 245%. Coinbase's global head of research, David Duong, cautioned that these tariffs contribute to a challenging environment for cryptocurrencies, suggesting a possible upcoming ‘crypto winter.’ He noted that Bitcoin fell below its 200-day moving average, indicating potential downward momentum. Despite this, Bitcoin was trading around $85,000 on April 16, showing little change, while altcoins faced steeper losses, with many dropping by 2% or less. Duong emphasized that investing caution may be necessary in the upcoming weeks, as the cryptocurrency market adjusts to ongoing geopolitical tensions and regulatory developments.

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