The crypto market might be on the verge of hitting a local bottom within the next two months, as ongoing uncertainty around US import tariffs keeps investor sentiment low.
Analysts suggest that once the tariff negotiations clear up, cryptocurrencies could stabilize.
US President Donald Trump is set to announce a new tariff strategy aimed at reducing the trade deficit and boosting local manufacturing.
The anticipation of these tariffs has already impacted global markets, but there is a 70% chance that crypto valuations will find their bottom by June, according to Aurelie Barthere from Nansen. Currently, Bitcoin and Ethereum are trading significantly below their year-to-date highs, down 15% and 22%, respectively.
Nansen’s latest analysis indicates that both traditional and crypto markets lack upward momentum, with major indices and Bitcoin struggling to move above their 200-day moving averages. This cautious sentiment persists as investors await clarity on tariffs and economic growth.
Despite the uncertainty, Bitcoin is holding within a tight range of $82,000 to $85,000, showing some resilience. The Crypto Fear & Greed Index remains above the “extreme fear” mark, hinting at a slight improvement in market mood. According to Stella Zlatareva from Nexo, the market is in a “wait-and-see” phase, but if conditions improve, Bitcoin could target $86,500 or even $90,000.
For now, market participants are keeping a close watch on the upcoming tariff announcement, as it could set the tone for both crypto and traditional asset movements in the near term.
Sony Singapore has made a move towards embracing cryptocurrency by introducing USDC payments on its official online store, utilizing Crypto.com’s payment service.
Binance founder Changpeng Zhao (CZ), a key figure in the cryptocurrency world, recently shared his thoughts on artificial intelligence development through his X account, advising developers to be cautious when launching tokens.
7-Eleven stores in South Korea are set to embrace the country’s central bank digital currency (CBDC) as a payment option until June, participating in the ongoing national trial of digital currency.
Circle’s recent move to file for an IPO has sparked skepticism among industry experts, who are raising questions about the company’s financial health and future prospects.