PANews reported on April 9 that according to The Block, amid the tensions of the global trade war, the world's major powers launched tariff wars against each other, and the volatility of the Bitcoin and cryptocurrency markets has intensified. Last week, US President Trump announced the imposition of broad import tariffs, which triggered panic in the stock market and setbacks in risky assets. Matt Hougan, chief investment officer of Bitwise, said that investors are currently facing difficulties, with large market fluctuations and complicated information, but the White House's plan is becoming clearer. Steve Miran, chairman of the White House Council of Economic Advisers, pointed out that the US dollar's status as a reserve currency has put pressure on the US manufacturing industry and distorted the currency market.

Hougan believes that this suggests that the dollar needs to depreciate, and the Trump administration intends to significantly depreciate the dollar, even at the expense of its status as the world's only reserve currency. He predicts that the short-term weakness of the dollar will drive Bitcoin to strengthen. Since 2020, the two have often moved in opposite directions, and this trend may continue. Hougan said that in the long run, the outlook for Bitcoin is more optimistic. Tariff-induced rebalancing and global de-dollarization may prompt countries to adopt new reserve currencies. Hougan believes that in the process of moving to a "more decentralized reserve system," the world will pay more and more attention to "hard currencies" such as Bitcoin and gold.