Bitcoin price has fallen to $81,500 as global markets brace for potential volatility with the onset of Trump’s “Liberation Day” tariffs on April 2.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
3 mins read
Bitcoin BTC $91 289 24h volatility: 5.1% Market cap: $1.81 T Vol. 24h: $42.52 B price came crashing down to $81,500 levels earlier today as global markets brace for an uncertain week as Trump’s reciprocal tariffs kick in on Liberation Day, April 2. As a result, BTC is on the path to registering its weakest Q1 performance in seven years, since 2018. On the other hand, Gold price is touching historic all-time highs, shooting past $3,150 per ounce.
This week, US President Donald Trump will roll out “reciprocal tariffs”, with him referring to April 2 as the “Liberation Day” for the first time in a long time. The new measures will impose tariffs exceeding 20% on imports from more than 25 countries. By the end of April, these tariffs are expected to affect over $1.5 trillion in imported goods.
Since the beginning of the year, the Trump trade war has escalated ever since he took charge at the White House in January. This has led to major turbulence in the global markets over the past three months, with BTC and altcoins correcting over 20% since mid-January.
Additionally, over the last two months, gold funds are experiencing unprecedented demand, with gold ETFs attracting $12 billion in net inflows. While the S&P 500 has declined 5% year-to-date, gold prices have surged nearly 17%, reinforcing its status as a preferred safe-haven asset amid market uncertainty.
On the other hand, Bitcoin ETFs have witnessed strong outflows during this period. However, as the Bitcoin price approached $89,000 in mid-March, inflows resumed, thereby providing a ray of hope for investors.
Market analysts continue to have mixed views about where BTC is heading next. Some believe that a drop under $80,000 could send the Bitcoin price even lower, to $70,000.
Popular crypto analyst Ali Martinez shared some interesting statistics noting that more than 30,000 Bitcoins have been withdrawn from the exchanges over the past week. This shows that long-term holders have been moving their coins aggressively over the past week.
Crypto analyst Captain Faibik suggests that Bitcoin’s ongoing consolidation within a four-month falling wedge pattern is nearing its end. Thus, he believes that Bitcoin price is actually setting the stage for the next bullish rally.
Faibik anticipates an upside breakout from the wedge at the start of April, with BTC potentially reaching a new all-time high of $109,000 by the end of the month.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.