As Bitcoin holds steady above $83,000, crypto traders are bracing themselves for the upcoming tariff announcement by U.S. President Donald Trump. The market is in “wait-and-see” mode, as investors anxiously anticipate what might come next.
Here’s the situation: Bitcoin is up 1.8%, trading at $83,172, while other cryptocurrencies like Ether and Solana have seen modest gains. But the real focus is on President Trump’s upcoming “Liberation Day” tariff announcement, expected on April 2.
The Big Unknown: Trump’s Tariffs and Market Impact
Trump’s announcement of “massive tariffs” on U.S. trade partners could stir up a global trade war, which has traders on edge. Presto Research Analyst Min Jung says the market is in a state of uncertainty, as the details of the tariffs are still under wraps. While some investors are optimistic, seeing the recent dip as a chance to buy, others are holding back until there’s more clarity on the situation.
The anticipation surrounding the tariffs comes after Bitcoin had its worst first quarter since 2018, losing nearly 12%. What was expected to be a continuation of the crypto bull-run under Trump’s pro-crypto policies instead turned into a sharp correction.
Bitcoin’s Rocky Road: From $108,000 to Sub-$80,000
Bitcoin’s price peaked above $108,000 in January, but it quickly fell below $80,000 last month, coinciding with the announcement of heavy tariffs on goods from Canada, Mexico, and China. The latest economic data showing a stronger-than-expected Consumer Price Index added to worries about the Federal Reserve holding off on interest rate cuts.
It wasn’t just Bitcoin that suffered—other crypto assets also saw price drops as the broader economic uncertainty took its toll.
Looking Ahead: Is a Recovery Possible?
Despite the recent downturn, analysts believe a recovery is on the horizon. Enmanuel Cardozo, a market analyst at Brickken, suggests that the second quarter could bring hope, especially if the Federal Reserve cuts rates and Trump’s administration delivers more concrete pro-crypto policies. The increasing flow of institutional money could drive the market back toward the $100,000 mark for Bitcoin, though there’s still a chance for another dip if broader economic factors fail to stabilize.
For now, the crypto market remains on edge, waiting for Trump’s big announcement and hoping that the future will bring clearer policies and renewed optimism.
Stay tuned—because in the world of crypto, every twist and turn could lead to a big breakthrough or a market shake-up.
