Bitcoin saw modest gains on Tuesday as the U.S. President Donald Trump marked his first 100 days in office with a rally in Michigan and renewed rhetoric around trade policy. The cryptocurrency rose to approximately $95,400, posting a 0.5% daily increase, according to data from CoinGecko.
The president’s remarks, delivered during a 90-minute speech in Macomb County, highlighted achievements from his administration’s first 100 days while reaffirming a tough stance on tariffs and signaling progress on upcoming trade deals. His speech, celebratory in tone, also served as a platform to criticize his predecessor and spotlight what he called underappreciated accomplishments by his administration.
The broader crypto market responded positively, with Ethereum and Solana seeing larger gains—up 3% and 2%, respectively—as investor sentiment improved. Analysts suggest the market’s reaction may reflect optimism surrounding trade developments, which could reduce geopolitical risk and encourage capital flows into digital assets.
Trump Defends Tariffs, Criticizes Fed
Speaking to the supporters in Macomb County, Trump highlighted the recent deportation of alleged Venezuelan gang members to El Salvador under the Alien Enemies Act — a policy now under legal review after the Supreme Court temporarily halted further removals. Despite judicial resistance, Trump framed the deportations as a key win in his administration’s immigration crackdown.
On the economic front, Trump offered an unapologetic defense of his aggressive tariff strategy, which includes tariffs as high as 145% on Chinese imports. While economists have warned such measures could exacerbate inflation and risk a recession, Trump positioned tariffs as a tool to reclaim U.S. jobs and penalize trading partners he claims have exploited American industry.
“We’ve been abused by friend and foe, and in many cases, friend has abused us more so than foe on trade,” Trump told the crowd.
“I want to just let you know you’re going to be very proud of this country very soon, and with my China tariffs, we’re ending the greatest job theft in the history of the world.”
The president also reignited tensions with the Federal Reserve, criticizing Chair Jerome Powell for maintaining current interest rates instead of lowering them to stimulate the economy. Trump has repeatedly accused Powell of undermining economic momentum and unsettling markets.
“You’re not supposed to criticize the Fed. You’re supposed to let him do his own thing. But I know much more than he does about interest rates,” Trump said.
U.S. Signals Trade Deal Progress With India
The United States has reached a preliminary trade agreement with one of the countries affected by President Trump’s “reciprocal” tariff strategy, according to U.S. Commerce Secretary Howard Lutnick. Speaking on CNBC’s The Exchange on Tuesday, Lutnick confirmed the deal but withheld the country’s name, citing the need for final approval from its prime minister and legislature.
Shortly afterward, President Trump echoed the sentiment in brief remarks to reporters outside the White House. He pointed to India as a key trade partner and expressed confidence that a deal is close, telling reporters that negotiations are “going great” and suggesting a framework may already be in place.
The developments come amid rising concern from economists who warn that Trump’s aggressive tariff policy could stoke inflation and hinder economic growth. Although the effects of these measures have yet to fully materialize in macroeconomic data, markets are watching closely ahead of Wednesday’s update to the Federal Reserve’s preferred inflation gauge.
As the administration pushes forward with its high-stakes trade agenda, investors remain on alert—balancing the potential upside of new trade agreements against the broader risks of inflation and economic slowdown driven by protectionism.
Quick Facts
- Bitcoin rose to $95,400 on Tuesday, gaining 0.5% as Trump celebrated 100 days in office.
- The president’s Michigan rally emphasized tariffs and hinted at trade progress, especially with India.
- Ethereum and Solana climbed 3% and 2%, respectively, amid improving sentiment.
- Analysts attribute crypto gains to optimism around trade deals and easing geopolitical tension.
