Market Analysis: Due to tariff concerns, Bitcoin struggles to rebound significantly

According to a report by Golden Finance, due to concerns about the impact of reciprocal tariffs coming into effect in the United States on Wednesday on the global economy, Bitcoin has recently declined and is currently striving for a meaningful recovery. Trump's imposition of tariffs on most US trade partners has suppressed appetite for risk assets including cryptocurrencies.

However, analysts at Saxo Bank suggest that cryptocurrency miners may benefit as tariffs could lead to a drop in prices for Bitcoin mining equipment outside the United States. Tariffs could potentially increase the price of mining equipment in America, thereby reducing demand. This might force manufacturers to lower prices in other regions to attract buyers.