Crypto market may establish a local dip in the next two months amid global uncertainty due to ongoing import tax negotiations, limiting investor sentiment in both traditional and digital markets.
US President Donald Trump will detail retaliatory import tariffs on April 2, measures aimed at reducing the country's $1.2 trillion trade deficit and promoting domestic production.
Although global markets were immediately affected by the first tax announcement, according to lead research analyst Aurelie Barthere at the cryptocurrency information platform Nansen, there is a 70% chance that cryptocurrency values will find their dip in June.
The research analyst stated:
"Nansen's data estimates a 70% probability that cryptocurrency prices will touch their dip from now until June, with BTC and ETH currently trading 15% and 22% lower respectively compared to their highest levels this year. Based on this data, the upcoming discussions will play a crucial role as market indicators. After the most challenging part of the negotiations has passed, we see clearer opportunities for cryptocurrencies and risky assets to establish their dip".
Both traditional and crypto markets continue to lack growth momentum before the US tax announcement.
"For the main US stock indices and BTC, the corresponding price charts cannot significantly recover above the 200-day moving average (MA), while short-term MA price indicators are declining. The fragile market sentiment highlights the need for good news, primarily related to US economic growth and tariffs", Nansen wrote in a research report on April 1.
Investors are currently in a "wait and see" mode and hesitant to make large transactions due to the market's lack of direction.
However, the Cryptocurrency Fear & Greed Index has maintained above the "extreme fear" level for three consecutive sessions, indicating a slight improvement while maintaining a cautious sentiment, according to Stella Zlatareva, editor of the digital asset investment platform Nexo.
"This reinforces the view that the market is in a wait and see mode. Bitcoin continues to consolidate in the range of $82,000 - $85,000 after experiencing a directional adjustment phase in Q1. This asset is adjusting in an area with important support at $82,000 and has the potential to rise to $86,500 or $90,000 if overall sentiment stabilizes".
Other traders are waiting for BTC price to breakout above $84,500 as a signal for stronger growth momentum amid ongoing tax uncertainty.
Disclaimer: The article is for informational purposes only, not investment advice. Investors should thoroughly research before making decisions. We are not responsible for your investment choices.
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Minh Anh
