Bitcoin plummets to $70,000, global tariff tensions trigger investor concerns

Jakarta, Pintu News – President Trump’s announcement of global tariffs has had a significant impact on the cryptocurrency market. Bitcoin BTC0.61%->Current BTC PriceRp 1.587.012.1560.61%Market CapRp 33.034 TriliunTrading VolumeRp 1.590 TriliunCirculating SupplyRp 19.797.675 experienced a sharp drop to near $75,000 on Wednesday before recovering slightly. Meanwhile, Ethereum ETH1.93%->Current ETH PriceRp 30.260.4241.93%Market Cap-Trading Volume-Circulating Supply- fell 10%, leading the decline among other major tokens.

The overall market showed a 6% drop in capitalization, extending the seven-day decline to almost 15%. The 104% increase in tariffs on goods from China and tariffs on imports from more than 60 trading partners have sparked serious concerns among investors.

The situation is exacerbated by increased sales of US government bonds, signaling increased borrowing costs that could worsen the already high federal deficit.

Market Analysis: Predictions and Investment Strategies

According to Ryan Lee, Principal Analyst at Bitget Research, it is possible that Bitcoin (BTC) will drop further to the $70,000-$75,000 range if trade tensions continue to escalate. However, Lee suggests that these conditions also present buying opportunities for the long term.

A dollar-cost averaging strategy is considered a prudent move at the moment, especially considering alternative cryptocurrencies such as Solana SOL0.57%->Current SOL PriceRp 2.509.0300.57%Market Cap-Trading Volume-Circulating Supply- for higher profit potential. Lee remains optimistic towards peak price recovery if macro conditions stabilize or pro-crypto policies emerge in the future.

It is estimated that Bitcoin (BTC) could reach $95,000-$100,000 by the end of 2025, which would lift the market capitalization back past $3 trillion. Although tariff pressures and risk-averse sentiment have hit alternative cryptocurrencies hard, Bitcoin’s (BTC) increasing dominance of close to 60% shows that the ecosystem fundamentals remain solid.

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

Long-term Implications: Global Economy and Crypto Market

Investor concerns that a prolonged trade war could weaken global trade, disrupt supply chains and slow US economic growth. This could put further pressure on the US equity market and Bitcoin (BTC), which tends to follow the ups and downs of the US market.

Currently, the market seems to have priced in inflation, but prolonged uncertainty could change this dynamic. A bond market that continues to sell off shows a significant increase in yields, signaling falling bond prices and rising borrowing costs for the US government.

This situation adds to concerns about the government’s ability to manage an already ballooning deficit, and could be an early indicator of greater economic challenges to come.

Conclusion: Navigating an Uncertain Market

In this uncertain market environment, investors are advised to exercise caution. Monitoring trade policy developments and their impact on the global economy will be crucial. While the market is currently showing volatility, understanding and capitalizing on these dynamics can open up profitable investment opportunities, especially in 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

• Coindesk. Bitcoin Bears Eye $70K, Ether Drops 10% as Trump Tariffs Start Global Menace. Accessed on April 10, 2025
• Featured Image: Generated by AI