Bitcoin price today climbs to $83000 but remains unstable amid tariffs and recession fears.
Bitcoin climbed on Thursday, recovering from recent losses, boosted marginally by softer-than-expected US inflation statistics.
However, advances in Bitcoin and the broader crypto industry were restricted as risk appetite was weighed down by ongoing concerns about an increasing trade war under US President Donald Trump, as well as recession fears.
The world’s largest cryptocurrency fell below $80,000 earlier this month due to widespread risk aversion, and Trump’s proposals for a Bitcoin reserve were also mainly disappointing. However, dip-buying and some optimism for more friendlier regulation aided Bitcoin’s slight recovery.
Bitcoin had risen 1.8% to $83,511.6 by 01:27 ET (05:27 GMT). The cryptocurrency got some optimistic cues from an overnight recovery on Wall Street, as the U.S consumer price index inflation read softer than expected.
Bitcoin remains under pressure due to trade and recession concerns.
Bitcoin’s recovery from its lows this year has been hampered by continuing concerns about a probable US recession, as well as fears of a quickly growing US-led trade war.
Trump’s 25% steel and aluminium tariffs went into force on Wednesday, with the US President pledging to implement retaliatory duties by April 2. According to reports, Trump was going to impose even larger trade tariffs against Europe. Markets anticipated that Trump’s tariffs would disrupt global commerce and drive up US inflation, putting pressure on the economy and causing a recession this year. Trump and his cabinet have mainly disregarded such fears, although they have predicted some near-term instability as his ideas are implemented.
Trump has also reversed some of his tariff intentions, granting Canada and Mexico an extension import tariffs. This uncertainty has also kept markets on edge.
Risky assets, such as cryptocurrency, which are mostly speculative, tend to underperform during periods of high volatility and risk aversion.
This has resulted in Bitcoin substantially underperforming US stock markets thus far in 2025, with the world’s largest cryptocurrency losing over 10% year-to-date, compared to a 4.6% drop in the S&P 500 index.
Crypto price today: altcoins move higher with PPI data and Fed in spotlight.
Broader crypto values matched Bitcoin’s modest advances, but remained close to recent lows, providing little comfort to markets.
Ether, the world’s second most valuable cryptocurrency, lost 0.6% to $1,866.80, trailing its peers after plunging to a more than three-year low earlier in March.
Solana, Cardano, and XRP increased somewhat, as did Polygon. Dogecoin rose 3.3%, while $TRUMP increased by 4.2%.
The focus was now on producer price index data, which was due later on Thursday, for additional clues on US inflation. The figure comes less than a week before the Federal Reserve’s meeting, where interest rates are largely expected to remain unchanged despite widespread economic uncertainties.
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