The crypto market recovers ahead of Trump’s Liberation Day tariff announcement.
Bitcoin reclaims its $84K price level with a 2.41% rise in the last 24 hours.
Bitcoin finally shows signs of recovery today by reclaiming its $84K price level. It has been going on a downward trend for the past few days as tension around Trump’s Liberation Day tariffs builds. The overall crypto market capitalization jumped 2.50% even though the cryptofear and greed index continues to indicate a fearful market.
Bitcoin recorded a 2.47% daily price rise today. Other noteworthy cryptocurrencies like Ether, XRP, Solana, Dogecoin, and Cardano prices also witnessed considerable price surges today. This reflects the increasing investor confidence in the crypto market, followed by four consecutive days of a downtrend.
As Bitcoin started making some gains today, tomorrow is crucial in deciding its next price movement. Tariff announcements initially caused fear and resulted in a market sell-off. However, today’s gains tell a different story. Whether Trump’s tariff announcements tomorrow will boost or shake the market is hard to predict for sure.
The Crypto Market in “Wait-and-See” Mode Ahead of Trump’s Liberation Day Tariff Announcement
Industry leaders and market experts are saying that the crypto market is in “wait-and-see” mode ahead of Trump’s Liberation Day tariff announcement. There is a mixed sentiment in the crypto community at present. It is difficult to predict whether the crypto market will boom or bust in the next couple of days.
One thing is clear that Trump’s decisions on tariffs will surely impact the market either way. The Guardian report estimated that Trump’s reciprocal tariffs will eventually trigger a global trade war. Trump’s main target countries are the European Union, South Korea, Brazil, India, and China.
If the crypto market reacts positively, we might witness a V-shape recovery in Bitcoin’s price, and it could go as high as its last week’s peak of $88K. On the other hand, if the market reacts adversely, Bitcoin might crash to the $70K price level this time. We must wait a few more hours to see what’s ahead for the crypto market.
