The long-awaited April 2nd US Independence Day has arrived.
US President Donald Trump is expected to announce bilateral tariffs for global trade.
According to Trump’s plan, the US will impose reciprocal customs duties on every country in the world that imposes customs duties on the US, without exception, and it will be announced today.
White House spokeswoman Karoline Leavitt said in a press conference that the tariffs would go into effect immediately after they were announced, adding, “April 2, 2025 will go down in history as one of the most important days in modern American history.”
Trump’s speech, which has an impact on both global and crypto markets with his statements, will also be closely followed by Bitcoin and crypto investors.
Trump is expected to announce the tariffs at a major event at the White House today, April 2. He is expected to announce new tariffs for 15 countries, including China, Canada and Mexico, which already impose tariffs on the United States.
Trump is expected to make a statement on April 2 at 16:00 local time, 23:00 Turkish time.
What to Expect in the Cryptocurrency Market?
K33 Research analysts Vetle Lunde and David Zimmerman said they expect the tariff announcements to have a major impact on the market, with correlations between stocks and Bitcoin remaining high.
“Our base case scenario for BTC is that tariffs will create volatile conditions throughout April. We think Bitcoin will extend its consolidation in the $75,000 to $88,000 range. We do not expect a sense of certainty and clarity after April 2, as we expect answers, negotiations, sudden turns and surprises throughout April.”
BRN chief analyst Valentin Fournier said that significant and critical risk remains due to the unpredictability of Trump’s speech.
“Given the ongoing uncertainty surrounding Trump’s speech, there could be a potential downside and increased volatility if the market disappoints on expectations. Until tariff uncertainty clears, we recommend low overall exposure to Bitcoin and cryptocurrencies and remaining cautious.”
Zach Pandl, head of research at Grayscale, said the worst of the tariff impact on cryptocurrencies may already be reflected in prices. He added that if Trump’s tariff plans are implemented gradually, financial markets could recover, which could help Bitcoin.
*This is not investment advice.