New US trade tariffs have caused fluctuations in global markets and negative sentiment regarding Bitcoin. Analysts and investors are expressing concerns about further declines.
Bearish Sentiment in the Market
According to estimates on Polymarket, there is a 56% chance that Bitcoin will trade below $78,000 by April 11, following a decline that saw the largest cryptocurrency fall below $75,000.
Reasons for Price Decline
Carlos Guzman, an analyst at crypto trading firm GSR, stated: "We’re probably going to go lower from here. There’s no near-term positive catalyst for crypto that would justify a decoupling from the macro situation."
Analysis and Forecasts
The drop in Bitcoin's price coincides with the escalation of the trade war announced by US President Donald Trump. Commerce Secretary Howard Lutnick confirmed that the administration has no intention of delaying the tariffs, which will take effect on April 9. Petr Kozyakov, co-founder and CEO of the crypto payments firm Mercuryo, remarked: "Cryptocurrency markets have entered extreme fear mode. Trump's tariff regime has created a real and immediate danger of a global recession."
In the face of market instability and new trade tariffs, Bitcoin is encountering challenging times. Analysts expect further declines unless positive signals emerge.
