Cryptocurrency Markets Under Pressure on Friday After President Trump's Tariff Announcement

Notable Statistics: Notable Developments: Top Losers: Trader Notes: With Bitcoin prices dropping, crypto trader Altcoin Sherpa predicts that one “god candle” is needed

(March 25): Cryptocurrency markets came under pressure on Friday after President Trump's tariff announcement. Bitcoin prices dropped below key support levels, while altcoins also faced losses.

An announcement from President Trump on tariffs for China led to a sell-off in markets, with cryptocurrencies also facing the heat. Bitcoin prices dropped below the $102,000 level, while altcoins also saw losses.

Among the top losers were XRP, Litecoin and Chainlink, which faced declines of over 5%. However, some altcoins managed to show resilience, with Binance Coin and FTX Token both posting gains.

Crypto trader Altcoin Sherpa highlighted the need for a "god candle" to help Bitcoin reverse its decline, while Ansem cautioned traders after BTC faced rejection from range highs.

"1 God Candle is all we need for $BTC," wrote Altcoin Sherpa in a tweet, sharing a price chart.

Meanwhile, Ansem noted that Bitcoin faced rejection from range highs, adding that traders should be cautious and noted that a deeper pullback could be incoming.

"Took a while, but finally got that rejection from the range highs," Ansem wrote in a tweet.

"Be cautious here, seems like a deeper pullback is incoming. Also seems like the last chance to get any kind of decent entry short."

According to More Crypto Online, Bitcoin remains in a wave 4 support zone, with the $101,729 level acting as a key support—losing this level could signal a deeper pullback.

"BTC remains within the wave 4 support zone, with the key support being the wave 3 low at $101,729," the report noted.

"Losing this level could signal a deeper pullback, possibly towards the 0.382 Fib retracement level at $94,000."

Data from Glassnode shows that Bitcoin has formed a strong supply cluster around $98,000 after 45 days of high-volume trading in the $94,000–$101,000 range, which could be reinforcing this zone as a critical support in corrections and resistance in rallies.

Rekt Capital pointed out that Bitcoin might be retesting a post-breakout structure, with a daily close above the diagonal confirming strength, while failure could send prices back to the $101,000 range low.

"Could Bitcoin be pulling back for a post-breakout retest of the light blue triangular structure?" Rekt Capital wrote in a tweet.

"Needs a Daily Close above the light blue diagonal to confirm a successful retest."

"A failure would see price drop back into the Range Low of $101k."