Worries regarding a worldwide trade conflict persist in affecting both conventional and cryptocurrency markets as investors prepare for a potential tariff declaration from US President Donald Trump on April 2 \u2014 a decision that might influence Bitcoin\u2019s price direction for the month.<\/p>\n
Trump initially declared import tariffs on Chinese merchandise on Jan. 20, coinciding with his swearing-in as president<\/a>.<\/p>\n Fears of global tariffs<\/a> have resulted in increased inflation apprehensions, restricting the willingness to engage in risk assets among investors. Bitcoin (BTC<\/a>) has dropped 18%, while the S&P 500 (SPX) index has decreased by over 7% in the two months following the original tariff announcement, as per TradingView data, TradingView<\/a> reports.<\/p>\n \u201cLooking ahead, April 2 is attracting increased focus as a possible ignition point for new US tariff announcements,\u201d Stella Zlatareva, dispatch editor at the digital asset investment platform Nexo, commented to Cointelegraph.<\/p>\n S&P 500, BTC\/USD, daily chart. Source: <\/em>TradingView<\/em><\/a>\u00a0<\/em><\/p>\n<\/figcaption><\/figure>\n Investor sentiment experienced another setback on March 29 after Trump urged his senior advisors to adopt a more militant approach regarding import tariffs, which could be interpreted as a potential escalation in the trade conflict, as reported by the Washington Post citing four unnamed sources familiar with the issue<\/a>.<\/p>\n The announcement on April 2 is anticipated to outline mutual trade tariffs aimed at key US trading partners. The policies aim to mitigate the country\u2019s projected $1.2 trillion goods trade deficit while enhancing domestic production.<\/p>\n Related: <\/strong><\/em>Bitcoin ‘more likely’ to reach $110K prior to $76.5K \u2014 Arthur Hayes<\/strong><\/em><\/a><\/p>\n In spite of increasing uncertainty, significant Bitcoin holders \u2014 referred to as \u201cwhales,\u201d possessing between 1,000 BTC and 10,000 BTC \u2014 have kept accumulating. <\/p>\n The number of addresses in this category has remained constant since the onset of 2025, escalating from 1,956 addresses on Jan. 1 to over 1,990 addresses on March 27 \u2014 still below the previous cycle\u2019s height of 2,370 addresses noted in February 2024, Glassnode<\/a> statistics indicate.<\/p>\n Whale address count. Source: <\/em>Glassnode<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n \u201cRisk tolerance remains subdued amid tariff threats from President Trump and persistent macroeconomic ambiguity,\u201d according to Iliya Kalchev, a dispatch analyst at Nexo, who informed Cointelegraph:<\/p>\n \u201cNevertheless, BTC accumulation by whales along with a 10-day streak of ETF inflows suggests stable institutional demand. However, aggressive surprises \u2014 stemming from inflation or trade \u2014 may maintain a range-bound market for crypto into April.\u201d<\/p><\/blockquote>\n Related: <\/strong><\/em>$1T stablecoin supply could fuel the next crypto rally \u2014 CoinFund\u2019s Pakman<\/strong><\/em><\/a><\/p>\n The US spot Bitcoin exchange-traded funds saw their 10-day accumulation streak cease on March 28 when Fidelity\u2019s ETF reported outflows exceeding $93 million, while other ETF issuers noted no inflows or outflows, Farside<\/a> Investors data reveals.<\/p>\n Bitcoin ETF Flows. Source: <\/em>Farside<\/em><\/a> Investors<\/em><\/p>\n<\/figcaption><\/figure>\n Despite immediate volatility apprehensions, analysts have remained hopeful about Bitcoin\u2019s price trajectory for late 2025, with price forecasts varying from $160,000<\/a> to over $180,000<\/a>.<\/p>\nBitcoin ETFs, large holders continue accumulating<\/h2>\n