Bitcoin (BTC) faces market crisis, is further decline inevitable?

Jakarta, Pintu News – Global markets and cryptocurrency markets experienced significant declines today, triggered by the reciprocal tariffs imposed by US President Donald Trump that will come into effect on April 9. Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply-, as the leading cryptocurrency, has seen a decline of more than 7% in the past 24 hours, and analysts predict further short-term challenges for the digital asset.

Impact of US Tariffs on Crypto Market

The 10% base tariff imposed by Trump on all countries came into effect on April 5, while higher reciprocal tariffs for certain countries are scheduled to begin on April 9. These policies have sparked fears of a global recession and widespread job losses. Digital asset markets are feeling the impact of these tariffs, with Bitcoin (BTC) dropping more than 7% in the past 24 hours – from around $82,300 on April 6 to around $74,500 today.

Other cryptocurrencies such as Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply-, Solana SOL->Current SOL PriceRp 0Market Cap-Trading Volume-Circulating Supply-, and Ripple XRP->Current XRP PriceRp 0Market Cap-Trading Volume-Circulating Supply- have also seen larger declines, falling 17.2%, 16%, and 15.8% respectively in the last 24 hours. Similarly, the total crypto market capitalization has lost nearly $130 billion over the same period.

Also Read: Bitcoin (BTC) is recovering, but big hurdles still loom in April 2025

‘Death Cross’ Signal on Bitcoin (BTC)

Ali Martinez, an experienced crypto analyst, highlighted that there could be more challenges faced by this leading digital asset, as a ‘death cross’ signal has appeared on the daily chart, indicating a potential further price drawdown. A ‘death cross’ is a bearish technical signal that appears when the 50-day moving average (MA) drops below the 200-day moving average (MA), often indicating a downward trend or increased selling pressure in the market.

Peter Brandt, a veteran trader, shared a chart showing Bitcoin (BTC) trading in a symmetrical triangle pattern, with a retest of the wedge located at $81,024. This trader hinted that Bitcoin (BTC) may follow a drop to the 50% retracement level of $54,000.

Opportunities to Stack Bitcoin (BTC)?

Although growing concerns regarding a further price drop in Bitcoin (BTC) have put investors and traders on edge, some risk-seeking investors see this as an opportunity to accumulate more Bitcoin (BTC) at a lower price. This situation shows that even though the market is experiencing volatility, there are still opportunities to profit from price fluctuations.

Conclusion

With new tariffs in place and technical signals pointing to a potential further decline, the crypto market is currently in a state of uncertainty. However, for some investors, this volatility could be interpreted as an opportunity to invest at lower prices, especially in assets like Bitcoin (BTC) that have shown resilience and recovery over the long term.

Also Read: First XRP ETF in the US Launched, Provides New Investment Opportunities!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Flashes Death Cross Amid Tariff-Induced Market Turmoil, Is Further Decline Inevitable. Accessed on April 8, 2025
• Featured Image: Generated by AI