Bitcoin (BTC) looks to open bearish as US President Donald Trump's new wave of 25% tariffs on cars imported to the US

Crypto and stock traders' anxiety over US President Donald Trump's fresh wave of 25% tariffs on cars imported to the US

Bitcoin price slipped on Thursday, setting the cryptocurrency up for a bearish open to mark the last trading day of March and potentially the weakest Q performance for the coin since 2018.

Crypto and stock traders’ anxiety over US President Donald Trump’s fresh wave of 25% tariffs on cars imported to the US, the threat of tariffs on the pharmaceutical industry is clearly reflected in BTC’s current downside. Trump’s frequent references to April 2 being “Liberation Day” (the day when an apparent number for “reciprocal tariffs” will be assigned to various countries) has also shaken traders’ confidence.

As of 07:30 AM ET (11:30 GMT), Bitcoin was trading at $81,656, down 0.8% for the past 24 hours. The coin slipped to lows of $81,111 earlier in the Asian session.

Stock futures performance on March 30. Source: X / Spencer Hakimian

Dow futures slipped 206 points, while S&P futures slid 0.56%. Both indexes closed at multi-week highs on Wednesday.

After a tumultuous month, equities markets look set to close down for the month, with the S&P 500 down 6.3% for the month and the Nasdaq and DOW each registering 8.1% and 5.2% respective losses.

Bitcoin price is slipping in tandem with equities markets, locking in a 7th consecutive day of lower lows for the coin. A weak open for US stocks and a rise in Treasury yields bode poorly for risk appetite at the start of April.

The stellar run in BTC futures volumes, which hit record highs of over $100 billion in March, is also expected to moderate, given the massive outsized price swings that have characterized BTC’s price action in recent months.

Last week’s core Personal Consumption Expenditures (PCE) data showed a higher-than-anticipated uptick in inflation, and March consumer confidence data from the Conference Board showed the monthly confidence index, which reflects respondents’ expectation for income, business and job prospects at a 12-year low.

Consumer confidence present situation and future expectations data. Source: The Conference Board

Related: Bitcoin bottom ‘likely’ at $80K, opening door for TON, CRO, MNT and RENDER to rally

Recession odds also continue to rise, with a recent report from Goldman Sachs raising the 12-month recession probability from their previous 20% to 35%. In the report, Goldman Sachs’ analysts said,

US recession odds raised by Goldman Sachs. Source: X / Peter Berezin

Does Bitcoin’s downside have a silver lining?

While many crypto analysts have publicly revised their bullish six-figure-plus BTC price estimates and now forecast a revisit to Bitcoin’s swing lows in the mid $70,000 range, institutional investors continue to buy, and net inflows to the spot ETFs remain positive.

On March 30, Strategy CEO Michael Saylor took to X and posted his famous orange dots Bitcoin chart, saying,

Strategy Bitcoin purchases. Source: X / Michael Saylor

Data from CryptoQuant also shows Bitcoin inflows to accumulation addresses continuing to rise throughout the month.

BTC: Inflows to accumulation addresses. Source: CryptoQuant

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

output: Bitcoin price slipped on Thursday, setting the cryptocurrency up for a bearish open to mark the last trading day of March and possibly the weakest Q1 performance for the coin since 2018.

Crypto and stock traders’ anxiety over US President Donald Trump’s fresh wave of 25% tariffs on cars imported to the US, the threat of tariffs on the pharmaceutical industry is clearly reflected in BTC’s current downside. Trump’s frequent references to April 2 being “Liberation Day” (the day when an apparent number for “reciprocal tariffs” will be assigned to various countries) has also shaken traders’ confidence.

As of 07:30 AM ET (11:30 GMT), stock futures had already slipped into the red, with the DOW futures shedding 206 points and the S&P futures down 0.56%.

Both indexes closed at multi-week highs on Wednesday.

After a tumultuous month, equities markets look set to close down for the month, with the S&P 500 down 6.3% for the month and the Nasdaq and DOW each registering 8.1% and 5.2% respective losses.

Bitcoin price is slipping in tandem with equities markets, locking in a 7th consecutive day of lower