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With Trump's April 2 tariff deadline approaching, traders are cautious

"post: After a brief respite, traders are returning to the market with a focus on new U.S. inflation data and the potential impact of President Trump's tariffs.

As Trump's April 2 deadline for imposing tariffs on $100 billion in Chinese goods approaches, traders are showing caution. The administration has yet to grant an extension for the tariffs, which were initially announced in August 2024.

While the tariffs are a concern, they might have a smaller effect on inflation than the Federal Reserve's actions, according to analysts. The administration is also planning to impose tariffs on products from Vietnam and Malaysia to counter the administration's "unfair trade practices."

Top traders are closely watching the administration's actions as the new week begins.

March 25: S&P Global Manufacturing PMI data, CB Consumer Confidence data

March 26: February New Home Sales data, Atlanta Fed GDPNow data

March 27: US Q4 2024 GDP data

March 28: February PCE Inflation data

After a weekend that saw Bitcoin drop below $80,000, the cryptocurrency managed to rebound, currently trading above $85,000. Despite the recent price swings, Bitcoin is still up 68.3% year-to-date.

The cryptocurrency market is showing signs of recovery after a period of decline. In the last 24 hours, most major altcoins have shown gains, with Solana leading the rally with a 6.2% surge. Cardano and Polygon followed with increases of 2% and 2.8%, respectively.

Dogecoin also saw a rise of 3.5%, while TRUMP soared by 9.4%. The meme coin's rally comes after a recent report that the administration is planning to grant an extension for Trump's tariffs.

However, the administration might be shifting its focus from tariffs to other economic indicators. Economists are expecting the Federal Reserve’s core PCE price index, the central bank’s preferred inflation gauge, to rise slightly from 2.6% to 2.7%.

The report will be released on Friday, March 28, and it could have implications for risk assets such as Bitcoin. The Federal Reserve will also release its final one-year inflation forecast, which could provide further insight into the central bank's monetary policy direction.

Bitcoin Price Analysis: Decoding the Recent Trends

The recent price action of Bitcoin has been influenced by several factors, including the looming threat of President Trump's tariffs and the ongoing struggle to process the final batch of BTC futures on Chainlink.

As Trump's April 2 deadline to impose tariffs on $100 billion in Chinese goods approaches, traders are becoming increasingly cautious. The administration has yet to grant an extension for the tariffs, which were initially announced in August 2024 with the aim of countering China's trade practices and shifting the manufacturing of critical minerals like lithium-ion batteries back to the U.S.

However, analysts believe that the tariffs might have a smaller effect on inflation than the Federal Reserve's actions. The administration is also planning to impose tariffs on products from Vietnam and Malaysia, further highlighting its focus on shifting the balance of trade.

Top traders are keeping a close eye on the administration's actions as the new week begins. The economic calendar will be sparse, with March PCE data being the main highlight.

The crypto market is showing signs of recovery after a period of decline. Most major altcoins have shown gains in the last 24 hours, with Solana leading the rally with a 6.2% surge. Cardano and Polygon followed with increases of 2% and 2.8%, respectively.

Dogecoin also saw a rise of 3.5%, while TRUMP soared by 9.4%. The meme coin's rally comes after a recent report that the administration might be planning to grant an extension for Trump's tariffs.

However, the administration might be shifting its focus from tariffs to other economic indicators. Economists are expecting the Federal Reserve’s core PCE price index, the central bank’s preferred inflation gauge, to rise slightly from 2.6% to 2.7%.

The report will be released on Friday, March 28, and it could have implications for risk assets such as Bitcoin. The Federal Reserve will also release its final one-year inflation forecast, which could provide further insight into the central bank's monetary policy direction.

The past 24 hours have seen a strong rally in the crypto market, with most major altcoins showing gains. Solana led the rally with a 6.2% surge, followed by Cardano and Polygon with increases of 2% and 2.8%, respectively.

Dogecoin also saw a rise of 3.5%, while TRUMP soared by 9