The latest European Union tariffs deepened macroeconomic uncertainty, which motivated crypto analysts to estimate increased volatility for bitcoin prices, which could have dropped below the critical $ 75,000 support level.
The EU will impose counter-targets on 26 billion euros ($ 28 billion) worth of US goods beginning in April, the European Commission announced On March 12, addressing the recent move of President Donald Trump’s President Donald Trump to impose 25% tariffs on iron and aluminum imports.
This step is the latest announcement of tariff revenge in response to US import tariffsthat can be transformed Trade war and volatility in the market in the near term.
Source: European Commission
“Counter tariffs are not a positive signal because they suggest a potential bounce back from the other side,” said Marcin Kazmierczak, co-founder and chief operating officer of Blockchain Oracle Solution Firm, Redstone.
It may see Bitcoin (Btc) Visit $ 75,000 again, he told Cointelegraph, adding that “given Stablecoins and Rwas (Real World Assets) remains all the time-high, it has the potential to bounce.”
“I do not believe the news will have a strong impact right now, but we will observe the response to the end of the US,” he added.
Related: Bitcoin Reserve Backlash Signals unrealistic expectations in the industry
Other analysts are still staring at a temporary Bitcoin retracement below $ 72,000 As part of a “macro correction” during the current bull market cycle before Bitcoin’s next leg up.
However, import tariffs are not the only factor that influences the price of bitcoin, Ryan Lee, chief analyst in Bitget Research, told Cointelegraph, adding:
“Prices are linked to greater economic conditions but are also influenced by factors beyond trade policies. Full adoption at institutional institutions, regulatory updates and high utilities are made more resilient than traditional financial instruments.”
BTC/USD, 1-month chart. Source: Cointelegraph
Europe announced its revenge on the same day when Trump’s 25% tariffs rose in all imports of steel and aluminum that occurred. Europe’s current suspension of tariffs on US goods will end on April 1, and its new tariffs will gain full impact on April 13.
Related: Bitcoin can benefit from US Stablecoin Dominance Push
Trade trade uncertainty may limit markets until April 2
Traditional and cryptocurrency markets may be limited by tariff -related concerns until April 2, according to Aurelie Barthere, chief analyst of research in Nansen. “
“The noise of the tariff is likely to continue until after April 2, and the announcements of the reward tariff, and then the negotiations, and put a lid on the appetite.”
“That said, we noticed the temporary stabilization of the major US and BTC equity indexes yesterday, in the lower part of their RSI, which we are monitoring,” he added.
Trump threatened to “increase” duties on cars entering the US from Canada, which is set to take place on April 2, unless Canada has decided to overthrow some of its trade tariffs.
https://www.youtube.com/watch?v=puxcqdo30Jo
Magazine: SCB Tips $ 500K BTC, SEC Densterns Ether ETF Options, and More: Hodler’s Digest, Feb. 23 – March 1
