On April 2, President Donald Trump announced that he would implement mutual customs duties against more than 100 trade partners such as China, India and the European Union. This step has led to a large wave of sales both in the US stock markets and in the crypto currency market. However, Bitcoin (BTC) has managed to stay above $ 82,000, which shows that the market is still strong. So, what are the two important macroeconomic developments that are expected to affect the price of BTC in the coming days?
Trump’s mutual customs duties: Bitcoin price remained at 82 thousand dollars
On April 2, President Trump announced that mutual customs duties will be applied against China, India, the European Union and more than 100 other trade partners. This move shook both US stock markets and crypto money markets. The US stock exchange was worth $ 1.3 trillion, while crypto currencies have over 500 million liquidations. The price of Bitcoin has fell from 88,500 to 82,100, although it suffered a 7.21 %loss of value, it was over $ 82,000. This shows that Bitcoin is still performing strongly.
Tomorrow, the FED president is expected to talk
Although Trump has remained behind the mutual customs duties and the Day of Independence, investors need to be careful. Because, two important macroeconomic development that may affect the price of Bitcoin and crypto money markets will be experienced this week. These developments will be the speech of the FED President Jerome Powell on April 4 and the Nonfarm Payrolls (NFP) data.
Although ADP labor data is higher than expected, March NFP data is expected to be around 80 thousand. This is well below 151 thousand, which is the previous data. This may put more pressure on the US Federal Reserve (FED) and take this situation in his speech on April 4, Jerome Powell, President of the FED President.
According to CME Fed Watch Tool data, the probability of remaining a constant interest rate between 4.25 %and 4.50 %is 78.5 %. However, the data in the table reveals that the FED is 61.3 %by reducing the Fed to 4.00 %by reducing interest rates to 25 basis points in June 2025.
What is expected for crypto currencies?
Arthur Hayes, the founder of Bitmex and forgiven by Trump, said that if Bitcoin can maintain $ 76,500, the danger was going on as the US tax day approached on April 15th. Rektproof, a popular crypto trader, says that the price of Bitcoin may decrease to 76,000 levels if the price of Bitcoin drops below $ 81,000, and that it may create a purchase opportunity.
On the other hand, rectproof says that Bitcoin can climb to 82,000 to 91,000 levels if he does not have a decline, and that this may be an opportunity to open a short position in the markets. However, considering the general market conditions and the upcoming macroeconomic developments, the direction of Bitcoin remains uncertain.
As a result, the future of Bitcoin and crypto money markets seems to be shaped depending on factors such as data to be announced in the next few days and the attitude of the FED. Investors should follow these developments carefully and take the risks into consideration.
