Cryptocurrency Market Experiences Significant Pullback as Bitcoin (BTC) Price Recovers from $82K to Peak above $84K

Amid Donald Trump's tariff day, the cryptocurrency market is experiencing a significant pullback this Tuesday, April 2.

Amid Donald Trump's tariff day, the cryptocurrency market is experiencing a significant pullback this Tuesday, April 2. In the last 24 hours, the Bitcoin has seen a major recovery from $82K to peak above $85K today. With smaller gains, DOGE and ADA are up over 0.5%, while XRP, SOL, and BNB are down over 1%.

After peaking at $85 earlier today, Bitcoin failed to hold the level and fell to its current zone. At the time of publication, the price of Bitcoin was quoted at $84.872,82 with a rise of 1% in the last 24 hours, equivalent to approximately R$482,540.38 BRL and €80,686.15 EUR.

The recent development of the largest cryptocurrency on the market was closely watched by expert Ali Martinez, who highlighted Bitcoin’s price action with a key resistance at $88.300. “Bitcoin $BTC faces the 200-day MA at $86.200 and the 50-day MA at $88.300 as key resistance ahead! A break above these levels could shift momentum back to the bulls,” he stated.

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# Bitcoin $BTC faces the 200-day MA at $86,200 and the 50-day MA at $88,300 as key resistance ahead! A break above these levels could shift momentum back to the bulls. pic.output: U.S. President Donald Trump is set to announce on Wednesday the implementation of a 20 percent tariff on imported products.

Additionally, a 25 percent tariff on imported vehicles will go into effect as early as Thursday. These measures target countries that impose tariffs on American goods and could affect a wide range of imported goods. The stated goal is to reduce the U.S. trade deficit and strengthen domestic manufacturing.

It is estimated that more than $1,5 trillion in imports will be impacted by these tariffs, with a potential revenue of up to $6 trillion. Some of this revenue could be returned to American citizens in the form of “rebates,” according to members of the Trump administration. However, these proposals generate uncertainty in global markets, which await details on implementation and possible retaliation from other countries.