In the past 24 hours, the digital currency market has experienced severe fluctuations leading to over $500 million worth of trading positions being liquidated. This liquidation followed the announcement of new tariffs by Donald Trump, the President of the United States, causing significant concerns in global markets, including digital currencies. The price of Bitcoin (BTC), which had previously reached $88,500, dropped rapidly to around $82,200 after the tariff announcement. Other major digital currencies also saw sharp declines. Around $300 million of these liquidations occurred in just recent hours. Initially, short positions were liquidated, followed by long positions. Trump’s new trade tariffs had a profound impact on financial markets, with the U.S. stock market facing a $1.3 trillion decline. However, some analysts believe that Bitcoin maintaining a price above $82,000 could indicate market strength. Nonetheless, there are still more risks looming over Bitcoin, with two key economic events this week that could alter the market direction. Jerome Powell’s speech on April 4th could determine interest rates. On the other hand, the release of the Non-Farm Payrolls (NFP) report is expected to show a figure of 80,000, significantly lower than the previous 151,000, potentially pressuring the Federal Reserve to change its policies. Analysts predict that if Bitcoin can hold above $76,500 until April 15th, it may surpass the danger zone. Conversely, failing to maintain this level could lead to a drop to $76,000, considered an ideal buying opportunity. Visit the live digital currency prices page to monitor all token and cryptocurrency prices in real-time.
