Bitcoin price continues to fluctuate under the influence of macroeconomic developments. In particular, the US’s possible customs tariff decisions and upcoming employment data increase uncertainty among investors. A new report published by K33 research, while evaluating the effect of these factors on Bitcoin prices, points out that the market may experience high volatility in the coming period.
Crypto coins are affected by those developments
Bitcoin and the general crypto currency market continue to be affected by a significant scale of macroeconomic factors. In particular, customs tariff decisions and employment data, which are expected to come by the USA, increase uncertainty in the markets. A new report published by K33 research lensed the effects of these developments on Bitcoin prices.
According to The Block, the K33 analyst said that tariffs continue to have a significant impact on the market and that US employment data to be announced this week may lead to additional fluctuations in the markets. Goldman Sachs expects former US President Donald Trump to announce that he will bring an average of 15 %mutual customs tariffs to all trade partners.
K33 Research Director Vetle Lunde and Senior Analyst David Zimmerman said in a report on Tuesday that the expectations of tariffs created a defense reflex between investors at the Chicago Commodity Exchange (CME). As a result, the premium rates decreased to 5 %in futures, while the open position amount decreased to the lowest level of the last 11 months with 133,790 Bitcoin. Offshore continuous futures funding rates also show that the market has a cautious attitude; Because the last 69 -day average, even neutral levels have not reached.
Bitcoin price will be at these levels in April
Analysts predict that explanations about tariffs will have a major impact on the market and that the correlation between Bitcoin and stocks will remain high. As the most likely scenario, the Bitcoin market will continue to fluctuate during April and the price movement may be limited to $ 75,000 to 88,000 dollars.
In addition, analysts who stated that the market would be difficult to find a clear direction after April 2, suggesting that various reactions, negotiations, sudden reverse turns and unpredictable developments during April. Therefore, they emphasize that the market should be followed carefully in this period.
