Market analysis: Bitcoin is struggling to recover significantly due to tariff concerns

Bitcoin, which has seen a recent decline amid concerns about the impact on the global economy of reciprocal US tariffs that went into effect on Wednesday, is now struggling for a meaningful recovery. Trump's imposition of tariffs on most US trading partners has dampened appetite for risky assets, including cryptocurrencies. However, analysts at Saxo Bank said cryptocurrency miners could benefit as the tariffs could lead to lower prices for bitcoin mining equipment outside the US. The tariffs could push up the price of mining equipment in the US, thus hitting demand. This could force manufacturers to lower prices in other regions to attract buyers.