Author: Ben Strack, Blockworks; Translated by: Tao Zhu, Golden Finance

After levied a 25% tariff on steel and aluminum imports on Monday, Donald Trump is expected to impose corresponding tariffs on other trading partners tariffs.

Bitcoin fell to around $95,000 after news of steel/aluminum tariffs came out before rebounding above $98,000 in early Tuesday.

Matt Mena, a cryptocurrency research strategist at 21Shares, said in an email: “This rapid recovery highlights the growing maturity and stability of digital assets, even when facing external economic shocks.”

He noted that during the previous weekend that Canada and Mexico announced tariffs, cryptocurrency prices fell about 5-10% from yesterday's levels - indicating "market confidence has increased."

In fact, Matt Britzman, a senior equity analyst at Hargreaves Lansdown, said in an ET report Tuesday morning that the U.S. markets “performed strongly” later yesterday. Nevertheless, he noted that tariffs allowed investors to “be prepared to deal with the impact, and futures fell this morning.”

Britzman added that history shows that the fear of trade wars caused by the tariff threat often comes and goes quickly.

"But this time, smart investors are not that sure; currency, bond and commodity traders are hedging their bets, and as tensions heat up, U.S. Treasury yields and gold prices Climb up,” he explained.

LMAX Group currency strategist Joel Kruger believes that the story is more about the market re-familiarity with Trump’s strategy than any substantial risks associated with extreme tariff measures.

He told me: "While the new announcement could bring short-term volatility, we do not think this risk will cause any significant shock from now on, and crypto assets are expected to continue to be sought to buy on dips Good support from medium and long-term participants. ”