TradingKey - Trump is set to announce tariffs. Will Bitcoin keep falling?
On Tuesday, April 1, Trump's tariffs will take effect, but Bitcoin (BTC) did not drop further. Instead, it rebounded. As of this writing, Bitcoin surged over 2%, briefly topping $84,000.
Bitcoin Price Chart, Source: CoinMarketCap.
On March 31, the White House announced that President Trump will unveil his country-based tariff plan on April 2 in the Rose Garden.
Trump's tariffs have been in the works for a while. Recent declines in U.S. stocks and Bitcoin have already priced in this news. In the past month, the S&P 500 fell 4.07%, the Dow dropped 2.75%, the Nasdaq lost 5.73%, and Bitcoin decreased by 2.6%.
If Trump does not escalate tariffs on April 2, Bitcoin may continue to rebound after Friday's non-farm payroll data. However, the $90,000 mark is a strong resistance level. Conversely, if Trump intensifies trade tariffs, Bitcoin's rebound could be hindered.
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