empty
01.04.2025 10:44 AM
Traders pause ahead of key event

Bitcoin's price has stabilized around the $83,000 mark as investors brace for a major announcement from US President Donald Trump on tariffs, expected to be made tomorrow. Other leading cryptocurrencies posted modest gains over the past 24 hours. XRP rose by 0.41% to $2.11, while Solana added 0.2% to reach $126.4. BNB, Dogecoin, Cardano, and Ethereum also saw slight upward movement.

This image is no longer relevant

It is clear that the market is currently in a holding pattern, as the full scope of Trump's trade war plans has yet to be revealed. The president is expected to introduce several major tariffs on April 2, a date some have labeled "Liberation Day." His announcement of reciprocal tariffs for US trade partners could trigger a global trade war, with negative implications for risk assets.

Some investors, however, believe the impact may be less severe than initially feared, viewing the recent decline as a preemptive reaction to anticipated trade measures. If no new or unexpected developments are revealed, the cryptocurrency market may find room to recover. Moreover, the long-term outlook remains positive, supported by rising institutional interest and the expanding utility of blockchain technologies. Continued innovation in the space continues to attract attention and capital, laying the groundwork for future growth.

At the same time, traders are urged to remain cautious and account for risks associated with volatility and regulatory uncertainty, although the potential for buying opportunities during downturns remains. Many traders still prefer to stay on the sidelines until greater clarity emerges.

It is worth noting that the crypto bull run, which began after Trump's re-election in November last year, lost momentum following the president's announcement of broad tariffs on foreign goods. That move triggered a broader market correction, which dragged down both equities and digital assets. The first quarter resulted in a significant pullback, and any recovery from this point will likely be gradual.

After peaking above $108,000 in January, Bitcoin dropped below $80,000 last month, coinciding with the imposition of hefty tariffs on goods from Canada, Mexico, and China. Compounding the pressure, the latest Consumer Price Index (CPI) data came in hotter than expected, raising concerns that the Federal Reserve may delay interest rate cuts for a prolonged period.

This image is no longer relevant

From a technical perspective, BTC buyers are currently aiming to reclaim the $83,600 level. A breakout above this mark would open the path toward $84,300 and then to $85,200. The most distant bullish target lies near $86,900, a breakout above which would confirm a return to a bullish market trend. On the downside, buyer interest is expected to be around $82,600. A decline below that support could push BTC down to $81,800, with a final bearish target near $81,000.

This image is no longer relevant

Ethereum is attempting to hold above the $1,864 mark. A confirmed move higher would pave the way toward $1,893. The furthest upside target remains the $1,928 zone, which would also signal a return to a bullish cycle if breached. In case of a pullback, buyers are expected near $1,831. If that level fails, ETH could quickly fall to $1,806, with extended downside potential toward $1,773.

MobileTrader

MobileTrader: trading platform near at hand!

Download and start right now!

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Bitcoin spikes from $96 600 to $104 500 in 24 hours

Bitcoin has surged to $104,500, after trading at $96,600 just yesterday morning. This confident move above the $100,000 mark clearly signals a return of strong bullish momentum in the cryptocurrency

Jakub Novak 14:49 2025-05-09 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 9

Bitcoin has climbed above $100,000, while Ethereum is trying to consolidate above $2,000. After yesterday's sharp rally, which continued during today's Asian session, Bitcoin is now trading at $103,000, having

Miroslaw Bawulski 09:46 2025-05-09 UTC+2

Technical Analysis of Intraday Price Movement Ethereum Cryptocurrency, Friday May 09, 2025.

If we look at the 4-hour chart of the Ethereum cryptocurrency, it appears that the price movement is moving above the WMA (30 Shift 2) which also has a slope

Arief Makmur 06:27 2025-05-09 UTC+2

Technical Analysis of Intraday Price Movement Bitcoin Cryptocurrency, Friday May 09, 2025.

On the 4-hour chart of the Bitcoin cryptocurrency, the Stochastic Oscillator indicator can be seen to be in Overbought conditions and is now preparing to Cross SELL and break below

Arief Makmur 06:27 2025-05-09 UTC+2

Bitcoin: Who's Driving the Price Up — Powell, the U.S. Treasury, or Short Squeezes?

While stock indices remain stagnant, gold consolidates near its highs, and Bitcoin is once again capturing attention. The crypto market's flagship has approached the psychologically important $100,000 level

Ekaterina Kiseleva 00:28 2025-05-09 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 8

Bitcoin reached just below $100,000, while Ethereum hit $1,900. Such a major growth in the cryptocurrency market once again confirms its bullish outlook, which has been discussed quite

Miroslaw Bawulski 09:22 2025-05-08 UTC+2

Bitcoin on the Brink: Breakout or Reversal?

Bitcoin's price is hovering near a psychologically significant threshold, with market participants bracing for another upward surge or a sudden reversal that could erase short-term bullish expectations. More chart

Ekaterina Kiseleva 01:16 2025-05-08 UTC+2

Crypto market opens with buoyant growth

US stock index futures surged sharply at the opening of today's trading session on news that representatives from the US and China have resumed consultations on trade matters. Media reports

Jurij Tolin 14:14 2025-05-07 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 7

Bitcoin and Ethereum Show Further Growth Amid Positive Crypto Legislation News Bitcoin is currently trading at $96,700, having rebounded from a low of $93,400, while Ethereum has recovered

Miroslaw Bawulski 10:32 2025-05-07 UTC+2

Bitcoin Gathers Strength: The Market Prepares for the Next Wave

Bitcoin is trading in the $93,000–$94,000 range, about 0.5% below its recent local high of $97,900, recorded on May 2. Volatility has decreased, and the market seems

Ekaterina Kiseleva 01:23 2025-05-07 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.