As long as institutional interest remained high, Bitcoin and other major cryptocurrencies saw greater trading on Tuesday. The impending retaliatory tariffs imposed by US President Donald Trump, however, might cause turbulence, thus market sentiment remained cautious.
There is a lot of interest among investors on April 2, which Trump has called “Liberation Day.” He is anticipated to announce sweeping reciprocal tariffs that may have an effect on international commerce. Trump’s declaration over the weekend that these duties will be imposed on all nations, not just those with significant trade deficits, stoked worries about a growing trade war and its possible effects on economic expansion.
Bitcoin was up 1.1% over the previous day at $83,014 as of 11:57 AM IST, while Ethereum was up 2.3% to $1,847. At $2.68 trillion, the total market value of cryptocurrencies increased by 0.94%.
Bitcoin is held steady at $82,000 while investors wait for further information on Trump’s tariffs. Eric Trump’s announcement of a new Bitcoin mining project and Strategy’s purchase of 22,048 BTC have somewhat bolstered market mood. In the short term, Bitcoin must rise over $84,200 and $87,500 in order to maintain its upward trajectory, according to Giottus CEO Vikram Subburaj.
According to Mudrex CEO and co-founder Edul Patel, “BTC faces immediate resistance at $84,300, with support at $80,900.”
The main cryptocurrencies had increases of 0.65% for XRP, 0.3% for Solana, 1.2% for BNB, and 2.7% for Cardano. Hedera, Chainlink, Avalanche, Dogecoin, Shiba Inu, and Stellar all saw increases of up to 6%.
Bitcoin’s dominance increased to 61.34%, while its market valuation increased to $1.649 trillion. According to CoinMarketCap, stablecoin transactions made up 95.72% of all cryptocurrency trade, amounting to $73.1 billion, while trading volume increased by 50.5% to $26.94 billion.
According to Riya Sehgal, a research analyst at Delta Exchange, “ETHETH encounters resistance close to $1,850, while Bitcoin’s support at $81,250 is still crucial. Although a break above these levels would indicate a rebound, volatility is anticipated due to impending macro events such as inflation reports, Powell’s speech, and U.S. employment data.
