Bitcoin (BTC) faces conditions similar to the 2022 bear market bottom as US business sees “very high risk” to come.
In his latest analysis, Charles Edwards, the founder of quantitative Bitcoin and digital asset fund Capriole Investments, queried when the US would start printing money.
”Higher than expected” US tariffs pressure Bitcoin
Bitcoin reacted noticeably worse than US stocks after President Donald Trump announced worldwide reciprocal trade tariffs on April 2.
BTC/USD fell up to 8.5% on the day, while the S&P 500 managed to end the Wall Street trading session 0.7% higher.
Despite this, Edwards notes that US business expectations reflect the type of uncertainty seen only three times since the turn of the millennium.
“Consider this as tariffs come in higher than expected. The Philly Fed Business Outlook survey is showing expectations today comparable to 2000, 2008 and 2022,”