Financial Insights That Matter
TradingKey – “90-day tariff delay” turns out to be fake news, but Bitcoin’s rebound continues as market sentiment turns bullish.
On Monday evening, rumors of a “90-day tariff delay” spread across the market, driving Bitcoin (BTC) to rapidly break through $81,000 and peak at $81,243. Shortly after, U.S. authorities confirmed the news was false, causing Bitcoin to pull back to $77,000. However, it resumed its upward trend this morning, suggesting investors remain optimistic about the market outlook.
Bitcoin Price Chart, Source: CoinMarketCap.
Although the U.S. did not delay tariffs, Bitcoin’s recent decline has already priced in this negative factor. On April 2, U.S. President Trump announced reciprocal tariffs, causing Bitcoin to fail in its upward breakout and continuously drop from its high of $88,500. Yesterday, it fell to a low of around $74,600, marking a cumulative decline of over 15%.
Recently, the broader crypto market has been in a downtrend, driving funds to shift from ETH and altcoins to BTC, pushing Bitcoin’s market dominance higher. It has now risen to 62%, hitting a new high since 2021. In the coming days, Bitcoin may continue its rebound by “sucking liquidity” from other tokens.
BTC, ETH, and Altcoin Market Dominance, Source: CoinMarketCap.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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