Key Notes Bitcoin Crashes to $80k Levels as Global Markets Brace for Trump's Tariffs

This week, US President Donald Trump will roll out “reciprocal tariffs”, with him referring to April 2 as the “Liberation Day” for the first time in a long time.

Key Notes

Bitcoin BTC $81 935 24h volatility: 1.6% Market cap: $1.63 T Vol. 24h: $17.40 B price came crashing down to $81,500 levels earlier today as global markets brace for an uncertain week.

As Trump’s reciprocal tariffs, kicking in on Liberation Day, April 2 will be heating up. By the time the dust settles, these tariffs are expected to affect over $1.5 trillion in imported goods.

Since the beginning of the year, the Trump trade war has escalated ever since he took charge at the White House in January. This has been leading to a major turbulence in the global markets. Notably, BTC and altcoins have been in an uptrend since mid-January, and they are still down 20% from their 2024 highs.

In another development, gold funds are experiencing unprecedented demand, with gold ETFs (exchange-traded funds) having attracted $12 billion in net inflows over the last two months. To put this in perspective, the S&P 500 has seen a decline of 5% year-to-date, while gold prices have surged nearly 17%, reinforcing its status as a preferred safe-haven asset amid market uncertainty.

Also, heading into this week, good funds have seen unprecedented inflows.Gold ETFs have seen a massive $12 BILLION in net inflows over the last 2 months.While the S&P 500 is down -5% YTD, gold prices are up nearly +17%.This does not happen in a "normal" economy.

On the other hand, Bitcoin ETFs have witnessed strong outflows during this period. However, as the Bitcoin price approached $89,000 in mid-March, inflows resumed, thereby providing a ray of hope for investors.

Some Positive On-Chain Indicators for BTC

Popular crypto analyst Ali Martinez shared some interesting statistics noting that more than 30,000 Bitcoins have been withdrawn from the exchanges over the past week. This shows that long-term holders have been moving their coins aggressively over the past week.

Over 30,000 #Bitcoin $BTC have been withdrawn from exchanges in the past week, shows on-chain data from @santimentfeed!

Crypto analyst Captain Faibik suggests that Bitcoin’s ongoing consolidation within a four-month falling wedge pattern is nearing its end. Thus, he believes that Bitcoin price is actually setting the stage for the next bullish rally.

$BTC Buying now is better than Regretting it later.. ✍️Bitcoin has been Consolidating within Falling Wedge pattern for the past 4 months..Correction phase is nearly complete & Bitcoin is preparing for its Next bullish Rally. 📈At the start of April, I’m expecting an upside

Faibik anticipates an upside breakout from the wedge at the start of April, with BTC potentially reaching a new all-time high of $109,000 by the end of the month.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Bhushan Akolkar on Key Notes