The concerns about the global trade war are still pressing on time-honored and cryptocurrencies, because investors prepare a potential tariff announcement from US President Donald Trump on April 2 – a movement that can give the tone of the trajectory of Bitcoin prices throughout the month.
Trump announced import duties for Chinese goods on January 20 for the first time, on the day of his inauguration as the president.
Global tariff fears led to increased inflation problems, limiting the appetite on risk assets among investors. Bitcoin (BTC) dropped by 18%, and the S&P 500 (SPX) index fell by more than 7% within two months after the first tariff announcement, according to Data TradingView, TradingView The data show.
“Going forward, on April 2, he pays more attention as a potential ignition point for fresh tariff ads in the USA,” said Cointelegraph Stella Złatareva, editor for the investment platform Digital Asset Investment Platform.
S&P 500, BTC/USD, 1-day chart. Source: TradingView
The sentiment of investors took another hit on March 29 after Trump pressed his older advisers to adopt a more aggressive position on import tariffs that can be seen as a potential escalation of the trade war, Washington Post ReportedCiting four unnamed sources familiar with this matter.
It is expected that the advertisement on April 2 describes mutual trade tariffs addressed to the best American trading partners. The funds are aimed at reducing the estimated deficit of trade in goods worth $ 1.2 trillion and increasing domestic production.
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ETF Bitcoin, whales are still gathering
Despite the growing of uncertainty, enormous Bitcoin owners – known as “whales”, from 1000 BTC to 10,000 BTC – were still gathering.
Addresses in this category remained stable from the beginning of 2025, from 1956 addresses on January 1 to over 1990 addresses on March 27 – still below the summit of the previous cycle of 2370 registered in February 2024, Glass knot The data show.
Number of whale address. Source: Glass knot
“According to Iliiy Kalchev, a shipping analyst of Nexo, who told CointeLgraph, and the risk appetite remains muted among the threat of tariff on the part of President Trump and the constant macro uncertainty”, which said Cointelegraph:
“Despite this, BTC accumulation by whales and the 10-day series of ETF inflow indicate the constant institutional demand. But hawk surprises-from inflation or trade-can maintain cryptographic range until April.”
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Bitcoin stock market trade funds in the US detained a 10-day accumulation series on March 28, when ETF Fidelity registered outflows worth over $ 93 million, while other ETF issuers did not record any inflows or outflows, Paternal Investors show.
Bitcoin ETF flows. Source: Paternal Investors
Despite miniature -term fears related to variability, analysts remained optimists as to the bitcoin price trajectory at the end of 2025, with price predictions from USD 160,000 to over USD 180,000.
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