Both cryptocurrency and traditional markets will be pressured by global trade war concerns until at least the beginning of April, but the potential resolution may bring the next big market catalyst.
Bitcoin’s (BTC) price fell over 17% since US President Donald Trump first announced import tariffs on Chinese goods on Jan. 20, the first day after his presidential inauguration.
Despite a multitude of positive crypto-specific developments, global tariff fears will continue pressuring the markets until at least April 2, according to Nicolai Sondergaard, research analyst at Nansen.
BTC/USD, 1-day chart. Source: Cointelegraph/TradingView
The research analyst said during Cointelegraph’s Chainreaction daily X show on March 21:
“I’m looking forward to seeing what happens with the tariffs from April 2nd onwards, maybe we’ll see some of them dropped but it depends if