Trump tariff casts shadow on crypto; Bitcoin tests resistance at $85,000

Bitcoin Price Today, April 4, 2025: The crypto market is at a critical juncture, reacting to macroeconomic headwinds and shifting institutional sentiment. Bitcoin (BTC), the world’s most popular and largest cryptocurrency by market capitalisation, traded lower by nearly 0.61 per cent, at around $82,999.65 at 11:05 AM on Friday, April 4, 2025.

 

Bitcoin has traded in the range of $83,745.45 to $81,282.10 in the last 24 hours, according to data from Binance.

 

The flagship cryptocurrency's drop from its Thursday high of $88,500, analysts said, reflects heightened investor caution following President Trump’s tariff announcement. For now, crypto markets remain under pressure, mirroring broader economic uncertainty. Notably, global financial markets were shaken by concerns over the potential economic repercussions of Trump's broad global tariffs, which could adversely impact economies worldwide, including that of the United States.

 

That said, institutional outflows from Bitcoin ETFs, particularly from ARK 21Shares and Fidelity, Piyush Walke, derivatives research analyst at Delta Exchange, said, suggest a cooling of risk appetite. A decisive macro catalyst is needed for a sustained recovery.

 

The Implied Volatility (IV), Walke said, suggests more uncertainty as the market expects larger price movements (more volatility) in the crypto asset class. "With key macro events ahead, price swings could intensify, presenting opportunities for volatility-driven strategies," Walke said.

 

Meanwhile, Alankar Saxena, Co-founder and CTO of Mudrex, believes that progress on the STABLE Act (Stablecoin transparency and accountability for a better ledger economy), and the Senate Banking Committee voting to advance Paul Atkins’ nomination create a friendlier environment for crypto.

 

Bitcoin, Saxena said, faces its next resistance at $85,000, with support at $80,500.

 

The sell-off was seen among other popular cryptocurrencies as well. Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, traded lower by 3 per cent at $1,826.39. Among others, Solana (SOL) traded lower by 3 per cent, followed by Binance Coin (BNB), which saw a decline of 2 per cent. Ripple (XRP), on the other hand, was trading higher by around 1 per cent.