Updated: European Union's Latest Retaliatory Tariffs Deepen Macroeconomic Uncertainty, Prompting Bitcoin (BTC) Price Predictions

The European Union's latest retaliatory tariffs have deepened macroeconomic uncertainty, prompting crypto analysts to forecast increased volatility for Bitcoin prices, which may drop below the critical $75,000 support level.

The European Union's latest retaliatory tariffs will deepen macroeconomic uncertainty, prompting crypto analysts to forecast increased volatility for Bitcoin prices, which may drop below the critical $75,000 support level.

The EU will impose counter-tariffs on 26 billion euros ($28 billion) worth of US goods starting in April, the European Commission announced on March 12. This is in response to recent moves by US President Donald Trump to introduce a 25% tariff on steel and aluminum imports.

This move is the latest retaliatory tariff announcement in response to US import tariffs, which may trigger renewed trade war concerns and market volatility in the near term.

“Counter tariffs aren't a positive signal as it suggests a potential bounce back from the other side again,” said Marcin Kazmierczak, co-founder and chief operating officer of blockchain oracle solution firm, RedStone.

This may see Bitcoin (BTC) revisit $75,000, he told Cointelegraph, adding that “given stablecoins and RWAs [real world assets] remain at all-time-highs, it has the potential to rebound.”

“I don't believe that news will have a strong impact for now, but we'll observe the response on the US end.”

Other analysts still eye a temporary Bitcoin retracement below $72,000 as part of a “macro correction” during the current bull market cycle before Bitcoin's next leg up.

Still, import tariffs are not the only factor influencing Bitcoin's price, said Ryan Lee, chief analyst at Bitget Research.

BTC/USD 1-month chart. Source: CointelegraphEurope announced its retaliatory tariffs the same day Trump's increased 25% tariffs on all steel and aluminum imports took effect. Europe's current suspension of tariffs on US goods will end on April 1, and its new tariffs will take full effect by April 13.

Global trade tariff uncertainty may limit markets until April 2

Traditional and cryptocurrency markets may be limited by tariff-related concerns until April 2, according to Aurelie Barther, principal research analyst at Nansen.

“That said, we observed tentative stabilization in the major US equity indexes and BTC yesterday, at the low of their respective RSI, which we are monitoring.”

Trump threatened to “substantially increase” duties on cars entering the US from Canada, set to take effect on April 2, unless Canada decides to drop some of its trade tariffs.