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Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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Bitcoin trade sideways as President Donald Trump’s April 2 tariff announcement made waves across global markets. Labeling the day “Liberation Day” for U.S. industry, Trump revealed broad import duties targeting major trade partners including China, the EU, Japan, and India.
The executive order outlined a 10% baseline tariff on all imports, with tougher, country-specific levies—including 34% on Chinese goods and 25% on foreign-made vehicles. The immediate market reaction was mixed.
Inflation Fears, Rate Cut Bets, and Bitcoin’s Role as “Digital Gold”
Trump defended the sweeping tariffs as a matter of national security, citing America’s reliance on foreign semiconductors and antibiotics, and the loss of 90,000 factories since NAFTA. He also celebrated $500 billion in new corporate investment pledges, saying the tariffs would restore domestic industrial power.
But economists were quick to warn of global retaliation, slower trade flows, and potential liquidity tightening—all of which complicate the macro outlook.
Bitcoin’s initial spike seemed to mirror these fears: inflation, supply chain strain, and possible central bank action. The digital asset briefly filled its role as a hedge, rising alongside gold, which hit $3,190 per ounce, while Treasury yields dipped.
But the sharp pullback suggests that investors remain skeptical about Bitcoin’s safe-haven status in this complex environment.
Adding another layer, markets now price in a 70% chance of a Fed rate cut by June, according to CME FedWatch. While lower rates tend to support Bitcoin and other non-yielding assets, escalating trade tensions could weigh on risk sentiment overall.
Bitcoin Technical Outlook: Rangebound and Losing Momentum
From a technical standpoint, Bitcoin is trading within a symmetrical triangle, signaling indecision. Price remains capped below resistance at $86,900, with rising support forming near $81,300.
The failure to reclaim the 50-period EMA at $84,280 underscores weakening momentum, while the RSI at 46 reflects a lack of strong buying interest.
Key Levels to Watch:
| Level | Meaning |
|---|---|
| $86,900 – $88,800 | Resistance zone (breakout trigger) |
| $81,300 – $79,000 | Key support zone |
| $91,000 | Bullish breakout confirmation |
| $76,600 | Breakdown risk if support fails |
Until BTC breaks decisively in either direction, expect continued volatility. A move below $81,000 could open the door to deeper losses, while a close above $88,800 may revive bullish sentiment and put $91,000 in play.
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