Investors are closely watching April 2, which Trump has referred to as “Liberation Day.” He is expected to unveil broad-based reciprocal tariffs that could impact global trade. Over the weekend, Trump indicated that these tariffs would apply to all countries, not just those with large trade imbalances, fueling concerns about an escalating trade war and its potential impact on economic growth.
As of 11:57 AM IST, Bitcoin was trading at $83,014, up 1.1% in the last 24 hours, while Ethereum gained 2.3% to $1,847. The overall cryptocurrency market capitalization rose 0.94% to $2.68 trillion.
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“Bitcoin has remained above $82,000 as markets await further clarity on Trump’s tariffs. Strategy’s acquisition of 22,048 BTC and Eric Trump’s announcement of a new Bitcoin mining venture have provided some support to market sentiment. For Bitcoin to sustain an uptrend, it needs to surpass $84,200 and $87,500 in the near term,” said Vikram Subburaj, CEO of Giottus.Edul Patel, Co-founder and CEO of Mudrex, noted, “BTC faces immediate resistance at $84,300, with support at $80,900.”
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Among major altcoins, XRP rose 0.65%, Solana gained 0.3%, BNB rose 1.2%, and Cardano surged 2.7%. Dogecoin, Chainlink, Avalanche, Hedera, Shiba Inu, and Stellar recorded surged up to 6%.
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Bitcoin’s market capitalization climbed to $1.649 trillion, with its dominance rising to 61.34%. Trading volume surged 50.5% to $26.94 billion, while stablecoin transactions accounted for 95.72% of total crypto trading, reaching $73.1 billion, according to CoinMarketCap.
Riya Sehgal, Research Analyst at Delta Exchange, said, “BTC’s support at $81,250 remains critical, while Ethereum faces resistance near $1,850. A break above these levels could signal recovery, but volatility is expected with upcoming macro events, including U.S. employment data, Powell’s speech, and inflation reports.”
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)