Tariffs and Non-Farm Data Clash: What's Next for Bitcoin?
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TradingKey - Trump's tariffs caused Bitcoin to swing wildly. Now, all eyes are on tomorrow's non-farm data.
On April 3, Bitcoin (BTC) experienced a rollercoaster ride. It jumped 5% from around $84,400 to $88,500. Then it plummeted 7% to a low of $82,200. Currently, it has rebounded to $83,300.
The price chart shows the volatility,Source: CoinMarketCap.
Trump's tariffs follow a dual-track system. It includes a "base tariff" and a "country-specific rate." Initially, the 10% base tariff was lower than expected, lifting market spirits and boosting Bitcoin. Soon after, the tariffs for each country were much higher than anticipated, leading to panic selling.
Now, Trump’s tariff situation seems stable. It likely won't worsen, which is a relief. Additionally, tomorrow (April 4), the U.S. will release March's non-farm data. This could provide a rebound opportunity for Bitcoin.
After Trump's announcement, the focus has shifted to the Federal Reserve. Market expectations for interest rate cuts have risen from three to four this year.
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