- Bitcoin’s technical indicators show signs of a bearish momentum shift.
- Global tariff war fuels volatility, impacting crypto and traditional markets.
The crypto market faces significant uncertainty as China and the European Union announce retaliatory tariffs on US goods. These developments come amid escalating trade tensions between global powers and could profoundly impact the market.
Bitcoin, in particular, may experience further downward pressure as the tariffs begin to take effect. Analysts are divided on whether this marks the bottom for the market or if additional declines are forthcoming.
Retaliatory Tariffs and Their Market Impact
On April 10, China imposed a hefty 84% tariff on all US imports, escalating from a previous 34% recently stated by CNN. This follows the US’s 104% tariff on Chinese goods, which has already created turmoil in global financial markets.
The announcement caused US equity futures to drop sharply, with a more than 2% decline. Similarly, European stocks saw a 4% dip, signaling the broader market’s response. Additionally, yields on US 10-year treasuries spiked to nearly 4.5%, reflecting investor concerns.
The European Union has also entered the fray, implementing tariffs of 10% and 25% on US imports starting April 15. While these tariffs target a smaller portion of US-EU trade, the political and economic tension between these powers is undeniable. The international trade war has sent shockwaves through global markets, raising concerns about further economic fallout.
Bitcoin’s Path Ahead Amid Growing Uncertainty
Bitcoin’s market behavior is mirroring the broader trends seen in traditional financial markets. Cryptocurrency has followed an upward trajectory since 2021, but the latest news indicates potential downside risks.
Source: TradingView
The price movements closely resemble those seen in 2017, with a similar growth pattern followed by a sharp correction. The Relative Strength Index (RSI) for Bitcoin in 2025 remains relatively low, suggesting there may still be room for further price gains.
However, recent reports point to a shift in Bitcoin’s technical indicators. According to CoinCryptoNews, Bitcoin has entered a bearish phase, with its 50-day simple moving average (SMA) falling below the 200-day SMA.
This “death cross” pattern typically signals a weakening in long-term momentum. Analysts suggest this development points to continued pressure on Bitcoin, as broader market conditions also face heightened selling pressure.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
