Tariffs and trade tensions may positively impact bitcoin adoption, as Grayscale reports that these economic conditions can lead to stagflation, benefiting scarce assets like bitcoin and gold. The report suggests that a weakened U.S. dollar may open opportunities for alternative reserve assets, including cryptocurrencies. Historical trends indicate that bitcoin could thrive in an environment of dollar weakness and inflation.

Bitcoin's price has fallen below $80,000, dropping over 3% in just two hours due to macroeconomic uncertainty following U.S. President Trump's tariff announcements. The decline has impacted the broader cryptocurrency market, with the top 30 cryptocurrencies down over 6% in the past day, while Ethereum has experienced a nearly 8% drop.