Keynote
US President Donald Trump has teased mutual tariffs in countries such as India, Brazil and Vietnam. In the last time Trump imposed tariffs on China, Bitcoin fell to just $95,1000.
The global crypto market should once again veil the possibility of turbulence as US President Donald Trump rekinds trade war tensions and bullies new retrograde tariffs.
On Thursday, Trump shared his intention to impose tariffs reflecting the fees other countries charge for American goods, potentially escalating global economic uncertainty. Coupled with inflation concerns, the move could lead to increased market volatility, indicating signs of debilitating, as Bitcoin, which is often seen as a hedge against Fiat’s instability.
“Three great weeks, perhaps the best ever, but today is a big one. Trump said through a true society.
Trump’s tariff strategy
Trump’s proposed tariffs are intended to address what he calls “unfair trade practices.” It targets countries such as India, Brazil and Vietnam. Mutual tariffs are expected to have particular impact on developing countries where the gap between US tariffs and foreign import obligations is significant.
The plan is consistent with Trump’s protectionist economic policy, but critics argue that tariffs could put a burden on American consumers by increasing the costs of imported goods. Furthermore, continuing trade negotiations with Indian Prime Minister Narendra Modi suggest the possibility of easing tariffs on Indian exports, but uncertainty is particularly looming in the widespread trade relations between China and Mexico.
Bitcoin faces uncertainty
Bitcoin (BTC), often considered a hedge against economic turmoil, fell on a massive crash following a previous tariff announcement by Trump in early February. Market leaders fell from $102,000 to $91,000 in a few hours, but reached a maximum of $98,000 the next day.
At the time of writing, BTC is trading at $95,717, a 2.20% decline over the past 24 hours. Cryptocurrency temporarily touched on a high of $98,083, but sales pressure reduced prices, with a daily low of $95,336.
Meanwhile, as clearly from the daily chart provided by TradingView below, Bitcoin’s relative strength index (RSI) stands at 42.43 below the neutral 50 mark, suggesting strong bearish control. The slope of the line indicates a potential movement towards a weaker momentum in the near future and sold.
Source: TradingView
Meanwhile, the MACD indicator remains bearish on daily charts. Bitcoin Price Action is trading below the $98,406 20-day EMA, strengthening its short-term bearish outlook. However, analyst Ali Martinez stressed in an X post that market leaders could monumentally soar if Bitcoin falls below the $93,400 111-day moving average.
Historically, when #bitcoin $btc falls below the 111-D MA, the major price movement continues! That level is currently $93,400! pic.twitter.com/ost8ccfdln
– Ali (@Ali_Charts) February 13, 2025
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
A crypto journalist with over five years of experience in the industry, Perth has worked with leading media outlets in the Crypto and Finance world, gathering experience and expertise in this field after surviving the bear and bull market for many years. Perth is also the author of four self-published books.
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Marco T. Lanz of X
