The cryptocurrency market may see a local bottom in the next two months amid global uncertainty as it continues to import import negotiations, limiting the investor’s sentiment in both traditional and digital markets.
US president Donald Trump is set to detail on April 2 of his Reciprocal Importing TariffsProposals aimed at reducing the country’s estimated shortage of $ 1.2 trillion in goods and strengthening domestic labor.
While global markets struck from the first tariff announcement, there was a 70% opportunity for cryptocurrency values to find their under June, according to Aurelie Barthere, chief analyst of research on the Nansen Crypto Intelligence Platform.
Cointelegraph research analysts said:
“Nansen’s data estimates a 70% possibility that crypto prices will be lowered between today and June, including BTC and ETH currently trading 15% and 22% below their annual years, respectively. Provided this data, the upcoming discussions will serve as important market indicators.”
“When the hardest part of the negotiations is behind us, we see a cleaner opportunity for cryptoes and the risk ownership to finally mark a bottom,” he added.
Related: Bitcoin could hit $ 250k in 2025 if Fed switched to QE: Arthur Hayes
Both traditional and cryptocurrency markets continue to lack the reversal momentum ahead of the US tariff announcement.
BTC/USD, 1-day chart. Source: Nansen
“For major US equity indexes and for BTC, their respective price charts failed to revive above their 200-day transition averages, while average moves are falling,” Nansen wrote in an April 1 research Report.
“Fragile Market Psychology features the need for” good news, “mainly in the US growth and tariffs,” the report added.
Related: Michael Saylor’s approach buys a $ 1.9B purchase
Bitcoin has to hold $ 82k in the middle of the crypto market “Wait and See” Mode: Analyst
Investors are currently in “Wait and See Mode” and are hesitant to take large positions because markets are lacking in direction.
However, the Crypto Fear & Greed index remained above the “intense fear” mark for a third consecutive session, suggesting an improvement of marginal despite the ongoing caution, Stella Zlatareva, Dispatch Editor at the Digital Asset Investment Platform Nexo, told CointeleGraph.
“It reinforces the view that markets are in a wait-and-see mode,” Zlatareva told Cointelegraph, and adding:
“Bitcoin continues to be combined with $ 82,000 -$ 85,000 scope after experiencing a period of recalibration in Q1. The asset navigates this zone with the main support of $ 82,000 and reversible potential towards $ 86,500 and $ 90,000 if the broader sentiment has strengthened.”
The other merchants are waiting for a bitcoin Breakout above $ 84,500 As a signal for more reversed momentum in the midst of continuous tariff uncertainty.
https://www.youtube.com/watch?v=gnunx0QWH3Q
Magazine: The bitcoin ath earlier than expected? XRP can drop 40%, and more: Hodler’s Digest, March 23 – 29
