Bitcoin’s price continues to face downward pressure, hovering around $81,500 as global markets brace for potential disruption from Donald Trump’s upcoming tariff announcement. The cryptocurrency market is showing heightened sensitivity to five critical factors expected to impact prices on April 2, with Trump’s ‘Liberation Day’ tariff reveal taking center stage.
The leading cryptocurrency has declined over 3% this month and 12% for the quarter, marking its worst quarterly performance since Q4 2022. Meanwhile, Ethereum has experienced an even steeper decline, with ETH dropping 46% in its most severe quarterly slide since 2018.
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Market Impact of Trump’s Tariff Plans
President Trump’s planned tariffs, set to be unveiled on April 2, could initially apply to all countries deemed to have unfair trading relationships with the U.S. This broad approach has already triggered significant market uncertainty, with traditional safe-haven assets like gold surging past $3,100 per ounce – a new all-time high.
Global Market Response
The impact is already visible across global markets:
- Japan’s Nikkei 225: -4% (entering correction territory)
- European indexes: FTSE 100, DAX, and CAC 40 all opened lower
- U.S. stock futures: Showing significant weakness
Crypto Market Analysis
Key metrics paint a concerning picture for crypto markets:
- Bitcoin: Trading at $81,535 (-1.27% in 24 hours)
- Ethereum: $1,792 (-1.3% in 24 hours)
- ETH/BTC ratio: Dropped to 0.02195 (lowest since May 2020)
- Total crypto market cap decline: -4.98% (CoinDesk 20 Index)
Looking Ahead: Key Events to Watch
Several critical events could impact crypto markets this week:
- April 2: Trump’s tariff announcement
- April 5: U.S. jobs report (NFP forecast: 128,000)
- Multiple protocol launches including ONINO and XIONMarkets
FAQ Section
How will Trump’s tariffs affect Bitcoin?
The immediate impact could be negative as global market uncertainty typically leads to risk-off sentiment. However, Bitcoin has historically shown potential as a hedge against economic uncertainty.
What support levels should traders watch?
Key support levels include $81,200 (immediate), with larger liquidation clusters at $83,100 and $83,600.
Is this a good time to buy the dip?
While prices are lower, significant macro uncertainty suggests caution. Traders should consider their risk tolerance and investment timeline before making decisions.