Trade tensions between the US and China are negatively impacting both traditional and cryptocurrency markets ahead of new tariff announcements.
Escalation of Trade Tensions
Another escalation in trade relations with China occurs as President Donald Trump plans to introduce new import tariffs on April 2. Since Trump's initial tariff announcement, Bitcoin has fallen by 18% and the S&P 500 index has dropped by more than 7%.
Bitcoin Holders' Stance
Despite the uncertainty, major Bitcoin holders — known as 'whales' — continue to accumulate. The number of addresses holding between 1,000 and 10,000 BTC remains steady since the beginning of the year, according to Glassnode.
Future Predictions
Analysts remain cautiously optimistic about Bitcoin's price trajectory for late 2025, with predictions ranging from $160,000 to above $180,000, despite short-term volatility.
Trade tensions continue to affect markets, evoking caution among investors and leaving the crypto market waiting for developments.
