Market Shaken by Trump’s Tariffs, Bitcoin Drops, and Circle’s IPO Move
Trump’s Tariffs Shake Global Markets
On April 2, former U.S. President Donald Trump imposed tariffs on all U.S. imports, including a 34% tariff on Chinese goods. This aggressive move has triggered widespread inflation fears and market volatility. Both stock and crypto markets responded negatively, with traders pricing in rising economic uncertainty.
Bitcoin Reacts to Trade War Fears
Bitcoin (BTC) initially surged to $88,500 but quickly retreated to $82,400 following the tariff announcement. This price action reflects the market’s mixed reaction to geopolitical and economic tensions. Traders are now watching closely for Bitcoin’s next move amid growing global uncertainty.
Jetking Becomes First Indian Public Company to Add Bitcoin
In a major development for corporate crypto adoption in India, IT training company Jetking has invested ₹6.6 crore in Bitcoin. This makes it the first publicly listed Indian firm to include BTC on its balance sheet, signaling a growing confidence in digital assets among traditional businesses.
Circle Files for IPO
Circle, the issuer of the USDC stablecoin, has officially filed for an Initial Public Offering (IPO). The move reinforces crypto’s deeper integration into traditional finance and could pave the way for other Web3 and fintech firms to follow suit.
Market Insight: Bitcoin Price Action Analysis
BTC Breaks Down From Ascending Channel
Bitcoin has recently broken down from its ascending channel, a sign of fading bullish momentum and growing selling pressure. The asset faced a sharp rejection from the $87,313 – $90,375 resistance zone, highlighting strong supply at higher levels.
Key Levels to Watch
- Immediate Support: ~$83,000
- Next Demand Zone: $76,849 – $74,416 if support breaks
- Bullish Signal: Reclaiming $85,000 could signal a short-term recovery
Liquidations Spike Amid Volatility
The breakdown triggered massive liquidations worth $485.64 million over the last 24 hours. A total of 156,446 traders were liquidated. The largest single liquidation order occurred on Binance’s ETH/USDT pair, valued at $11.97 million.
Upcoming Events to Watch
Jerome Powell’s Speech on April 4
What to Expect
Federal Reserve Chair Jerome Powell is set to speak on April 4. The market expects him to address the economic impact of Trump’s tariffs and the inflation outlook. Any signal of prolonged high interest rates could further pressure Bitcoin. However, hints at future rate cuts may boost BTC’s appeal as an inflation hedge.
