Tariffs and Non-Farm Data Clash: What's Next for Bitcoin?

TradingKey
Updated
Mitrade
coverImg
Source: DepositPhotos

TradingKey - Trump's tariffs caused Bitcoin to swing wildly. Now, all eyes are on tomorrow's non-farm data.


On April 3, Bitcoin (BTC) experienced a rollercoaster ride. It jumped 5% from around $84,400 to $88,500. Then it plummeted 7% to a low of $82,200. Currently, it has rebounded to $83,300.


The price chart shows the volatility

The price chart shows the volatility,Source: CoinMarketCap.


Trump's tariffs follow a dual-track system. It includes a "base tariff" and a "country-specific rate." Initially, the 10% base tariff was lower than expected, lifting market spirits and boosting Bitcoin. Soon after, the tariffs for each country were much higher than anticipated, leading to panic selling.


Now, Trump’s tariff situation seems stable. It likely won't worsen, which is a relief. Additionally, tomorrow (April 4), the U.S. will release March's non-farm data. This could provide a rebound opportunity for Bitcoin. 


After Trump's announcement, the focus has shifted to the Federal Reserve. Market expectations for interest rate cuts have risen from three to four this year.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
What to expect from Bitcoin and XRP following Trump tariffs: Experts weigh inBitcoin (BTC) stretched its decline on Thursday, briefly dropping below $83,000 as President Trump's newly announced reciprocal tariffs extended the crypto market downturn by over 4%.
Author  FXStreet
25 mins ago
Bitcoin (BTC) stretched its decline on Thursday, briefly dropping below $83,000 as President Trump's newly announced reciprocal tariffs extended the crypto market downturn by over 4%.
placeholder
Bitcoin Price Forecast: Tariff volatility sweeps over $200 billion from crypto marketsBitcoin (BTC) price hovers around $83,000 at the time of writing on Thursday after it failed to close above a critical resistance level the previous day.
Author  FXStreet
16 hours ago
Bitcoin (BTC) price hovers around $83,000 at the time of writing on Thursday after it failed to close above a critical resistance level the previous day.
placeholder
Bitcoin Price Swings Wildly—Yet Bears Keep the Upper Hand!Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone. Bitcoin started a decent recovery wave above the $84,500 zone.
Author  NewsBTC
21 hours ago
Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone. Bitcoin started a decent recovery wave above the $84,500 zone.
placeholder
XRP Price Prediction For April: Analyst Explains What To ExpectIn a newly released chart, crypto analyst Egrag (@egragcrypto) reveals a XRP price prediction for April. While emphasizing that current market sentiment remains in what he calls a “boredom
Author  NewsBTC
21 hours ago
In a newly released chart, crypto analyst Egrag (@egragcrypto) reveals a XRP price prediction for April. While emphasizing that current market sentiment remains in what he calls a “boredom
placeholder
XRP plunges as Trump's tariff announcement outweighs RLUSD launch on Ripple PaymentsXRP declined 5% on Wednesday following President Donald Trump's announcement of reciprocal tariffs on all international trading partners.
Author  FXStreet
Yesterday 02: 40
XRP declined 5% on Wednesday following President Donald Trump's announcement of reciprocal tariffs on all international trading partners.
Real-time Quote