Concerns over a global trade war continue to pressure traditional and cryptocurrency markets as investors brace for a potential tariff announcement from US President Donald Trump on April 2 \u2014 a move that could set the tone for Bitcoin\u2019s price trajectory throughout the month.<\/p>\n
Trump first announced import tariffs on Chinese goods on Jan. 20, the day of his inauguration as president<\/a>.<\/p>\n Global tariff fears<\/a> have led to heightened inflation concerns, limiting appetite for risk assets among investors. Bitcoin (BTC<\/a>) has fallen 18%, and the S&P 500 (SPX) index has fallen more than 7% in the two months following the initial tariff announcement, according to TradingView data, TradingView<\/a> data shows.<\/p>\n \u201cGoing forward, April 2 is drawing increased attention as a potential flashpoint for fresh US tariff announcements,\u201d Stella Zlatareva, dispatch editor at digital asset investment platform Nexo, told Cointelegraph.<\/p>\n S&P 500, BTC\/USD, 1-day chart. Source: <\/em>TradingView<\/em><\/a>\u00a0<\/em><\/p>\n<\/figcaption><\/figure>\n Investor sentiment took another hit on March 29 after Trump pressed his senior advisers to take a more aggressive stance on import tariffs, which may be seen as a potential escalation of the trade war, the Washington Post reported<\/a>, citing four unnamed sources familiar with the matter.<\/p>\n The April 2 announcement is expected to detail reciprocal trade tariffs targeting top US trading partners. The measures aim to reduce the country\u2019s estimated $1.2 trillion goods trade deficit and boost domestic manufacturing.<\/p>\n Related: <\/strong><\/em>Bitcoin \u2018more likely\u2019 to hit $110K before $76.5K \u2014 Arthur Hayes<\/strong><\/em><\/a><\/p>\n Despite mounting uncertainty, large Bitcoin holders \u2014 known as \u201cwhales,\u201d with between 1,000 BTC and 10,000 BTC \u2014 have continued to accumulate. <\/p>\n Addresses in this category have remained steady since the beginning of 2025, from 1,956 addresses on Jan. 1 to over 1,990 addresses on March 27 \u2014 still below the previous cycle\u2019s peak of 2,370 addresses recorded in February 2024, Glassnode<\/a> data shows.<\/p>\n Whale address count. Source: <\/em>Glassnode<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n \u201cRisk appetite remains muted amid tariff threats from President Trump and ongoing macro uncertainty,\u201d according to Iliya Kalchev, dispatch analyst at Nexo, who told Cointelegraph:<\/p>\n \u201cStill, BTC accumulation by whales and a 10-day ETF inflow streak point to steady institutional demand. But hawkish surprises \u2014 from inflation or trade \u2014 may keep crypto rangebound into April.\u201d<\/p><\/blockquote>\n Related: <\/strong><\/em>$1T stablecoin supply could drive next crypto rally \u2014 CoinFund\u2019s Pakman<\/strong><\/em><\/a><\/p>\n The US spot Bitcoin exchange-traded funds halted their 10-day accumulation streak on March 28 when Fidelity\u2019s ETF recorded over $93 million worth of outflows, while the other ETF issuers registered no inflows or outflows, Farside<\/a> Investors data shows.<\/p>\n Bitcoin ETF Flows. Source: <\/em>Farside<\/em><\/a> Investors<\/em><\/p>\n<\/figcaption><\/figure>\n Despite short-term volatility concerns, analysts remained optimistic about Bitcoin\u2019s price trajectory for late 2025, with price predictions ranging from $160,000<\/a> to above $180,000<\/a>.<\/p>\nBitcoin ETFs, whales continue accumulating<\/h2>\n