title: Trump’s Liberation Day and Reciprocal Tariffs End, Bitcoin Price Holds $82K

After President Trump completed announcing reciprocal tariffs, the US stock market and cryptocurrencies crashed. However, Bitcoin price managed to hold $82K

President Donald Trump has announced reciprocal tariffs on more than 100 trading partners including China, India, European Union and so on. After this event, the US stock market saw a $1.3 trillion liquidation and cryptocurrencies saw more than $500 million in liquidations.

After President Trump completed announcing reciprocal tariffs, the US stock market and cryptocurrencies crashed. However, Bitcoin price managed to hold $82K despite the US event-driven sell-off.

With this strength from BTC, here are two macroeconomic events to watch out for this week that could further impact BTC price.

Trump’s Liberation Day and Reciprocal Tariffs End, Bitcoin Price Holds $82K

On Friday, April 2, President Donald Trump announced sweeping tariffs on more than 100 trading partners including China, India, European Union and so on.

This move has rattled the U.S. & Crypto markets alike. While the U.S. stock market saw $1.3 trillion in liquidations, cryptocurrencies saw more than $500 million in liquidations with Bitcoin price crashing 7.21% from $88.5K to $82.1.

Despite this news-based sell-off, BTC’s value holding above $82K, which signals strength. However, this could come undone as two key macroeconomic events are yet to unfold this week that could rock Bitcoin and broader crypto markets.

Key Macroeconomic Events To Watch This Week

Although Trump’s Liberation Day and sweeping tariffs are behind us, investors must be cautious due to the upcoming macroeconomic events.

Two key events that could influence Bitcoin price and crypto market moves include – Nonfarm Payrolls (NFP) and Fed Chair Powell’s Speech on April 4.

Although the ADP jobs data came in higher than expected, the forecast for March NFP data is 80K, much lower than the previous data of 151K. This would put further pressure on the Fed, which could perhaps be addressed by Fed Chairman Jerome Powell on April 4.

The CME Fed Watch Tool shows a 78.5% probability that the target interest rate will remain the same at 4.25% to 4.50%. However, the probability table shows a 61.3% chance that the Fed could cut rates by 25 basis points in June 2025.

What’s Next for Bitcoin (BTC)?

Recently, BitMEX founder and pardoned by Trump, Arthur Hayes, added that, “if BTC can hold $76.5k now and on US tax day April 15, we’re out of danger.”

If BTC price manages to close above $82K, it could continue to rise and reach the next resistance level at $91K. If BTC price breaks through this level, it could continue rallying towards new all-time highs.

However, if BTC price drops below $81K, it could find support at $76K. If BTC price breaks through this level, it could continue falling towards the next support level at $68K.

Overall, the outlook for BTC price in 2024 is mixed. The macroeconomic events unfolding this week could easily influence moves.

Frequently Asked Questions (FAQs)

1. What is the current Bitcoin price after Trump’s Liberation Day?

The Bitcoin price today is $81,938. It has crashed by 7.21% in the past 24 hours. BTC value is trading above the key Fib level of $82K, which could be crucial for the bulls.

2. What are the two key macroeconomic events to watch this week?

The two key events to watch out for this week are Nonfarm Payrolls (NFP) and Fed Chair Powell’s Speech on April 4.

3. What is the forecast for March NFP data?

The ADP jobs data came in higher than expected but the forecast for March NFP data is 80K, much lower than the previous data of 151K. This would put further pressure on the Fed, which could perhaps be addressed by Fed Chairman Jerome Powell on April 4.