Tariffs, Tears, and Tumbling Prices: Can Bitcoin Survive the Trump Takedown?

by

“Tariffs, Tears, and Tumbling Prices: Can Bitcoin Survive the Trump Takedown?”

Tariffs, Tears, and Tumbling Prices: Can Bitcoin Survive the Trump Takedown?

Oh dear, it seems the world has gone utterly mad, and Bitcoin is caught in the midst of it all! The Nasdaq Composite is on track for its biggest one-day percentage drop since March 2020, and our beloved Bitcoin is slipping under the $82,000 support. It’s a veritable free-for-all, darling!

Will Bitcoin recover from this shock? Will it bounce back like a resilient debutante at a high-society ball? Or will it succumb to the pressures of the market and plummet to new depths? The suspense is simply killing me, darling!

Table of Contents

Trump tariffs take a toll on Bitcoin and crypto

Good heavens, the U.S. crypto stocks have suffered a steep correction, and it’s all because of President Trump’s tariff announcements. The man is a regular one-man wrecking crew, isn’t he? And now, crypto traders are in a right old pickle.

🚨 NASDAQ COMPOSITE DROPS 5.8%, ON TRACK FOR ITS BIGGEST ONE-DAY PERCENTAGE DROP SINCE MARCH 2020

— *Walter Bloomberg (@DeItaone)*

Crypto traders are quaking in their boots, the Fear & Greed Index reads 25, and that’s “Extreme Fear” if I ever saw it. They’ve been fearful for weeks, months even, but this level of fear is simply unprecedented.

Trump’s announcement sent Bitcoin tumbling to a low of $81,211, but it rebounded above the $82,000 support. Oh dear, it’s a bit of a rollercoaster ride, isn’t it? But fear not, dear Bitcoin enthusiasts, for it’s been through worse and emerged unscathed.

Bitcoin traders react to tariff announcements

Santiment data shows that those Bitcoin whales are buying the dip, darling! They’re adding to their holdings, and that’s typically a bullish sign. But, oh dear, BTC‘s price action is as predictable as a British weather forecast.

Bitcoin traders’ reaction to tariff announcements was rather muted, but derivatives traders are betting on a gain in BTC. Oh, the suspense is simply killing me!

Bitcoin price forecast

Bitcoin is consolidating under sticky resistance at the $85,000 level. If there’s a sustained upward momentum, it could test resistance at $85,519, darling! That’s nearly a 4% gain from the current level.

The next key resistance for Bitcoin is $90,000, and the 50% Fibonacci retracement of the decline from the all-time high to the March low, at $93,172. Oh, the technical indicators are flashing red, darling!

But fear not, for Bitcoin could test support at the upper boundary of an FVG on the daily timeframe, at $82,273. A daily candlestick close under this level could mark the end of the consolidation period and a beginning of a downward trend in Bitcoin. Oh dear, the possibilities are endless!

Derivatives traders expectation from Bitcoin

Derivatives data from Coinglass shows that traders are betting on an increase in Bitcoin prices. Oh, the optimism is palpable, darling! While previous tariff announcements have resulted in a negative impact on U.S. equities and Bitcoin price, this time traders expect a change.

Bitcoin holds its ground and defends key support, while traders open long positions betting on a gain in BTC. Oh dear, the long/short ratio on Binance and OKX exceeds 1, and options volume climbed 71% overnight!

Experts predict where Bitcoin is headed in the Trump era

Maksym Sakharov, Co-Founder and Board Member of WeFi, discussed Bitcoin’s recent drop under the $82,000 support and the market-wide correction with Crypto.news in an interview. Sakharov said…

“…So far, market proponents say that Trump’s tariffs are primarily a negotiation strategy, and their effect on businesses and consumers will remain manageable. Adding to the uncertainty are the inflationary pressures that could challenge the US Federal Reserve’s rate-cutting outlook. Besides that, an impending fiscal debate in Washington over the federal budget is also causing jitters in the market. Resolving the debt ceiling remains a pressing issue, as the Treasury currently relies upon extraordinary measures to meet US financial obligations. The exact timeline for when these measures will be exhausted is unclear, but analysts anticipate they may run out after the first quarter.”

Sergei Gorev, Head of Risk, YouHodler, acknowledges that Trump’s Liberation Day has created a bearish scenario for American stock markets, and it’s tough for crypto traders too. Gorev told Crypto.news…

“…It will be tough for the cryptocurrency market to show its positive attitude if the decline in American indices continues. The leading indicator of the increasing pessimism of investors is the regular updating of the price minimum of the ratio of ETH to BTC. And the continued growth of the dominance of BTC capitalization relative to all other crypto products. This fact also highlights investors’ uncertainty about the future of the crypto space. Until the S&P 500 index returns above its 200-day moving average again, it may be risky to invest in cryptocurrencies.”

Read More

2025-04-04 13:40