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April is here, and the crypto market is starting to show signs of a potential rally. Historically, the month has seen crypto prices rise by 12% to 30%, and with President Donald Trump’s “Liberation Day” just one day away, the excitement has doubled.
Already, Bitcoin, the biggest cryptocurrency, has surged past $83,000, recovering from a short decline over the past five days.
Now the big question is, Will Trump’s tariff decisions have a big impact on the market? And could Bitcoin reach $100,000 soon, or will we need to wait a bit longer for that?
Trump’s Liberation Day: A Turning Point for Crypto?
The announcement of Trump’s “Liberation Day” initially caused a dip in the crypto market, with big players like Bitcoin (BTC) falling 5% and Ether (ETH) dropping 10%. The tariffs were seen as part of a strategy for trade deals and border security, but their impact on crypto is still unclear.
Some analysts think the uncertainty could lead to a short rally if Trump changes or removes some tariffs. Perhaps, global economic factors like liquidity issues and rate cuts from central banks could limit any big gains.
On the other hand, if the tariffs lead to a recession or increase economic tensions, the Federal Reserve might lower interest rates or introduce stimulus measures. This, in turn, could spark increased demand for riskier assets, including cryptocurrencies, potentially starting a longer-lasting bullish trend.
Bitcoin Eying $100K Mark
Bitcoin’s recent movement suggests a recovery is already in progress. After dipping below $80,000, Bitcoin has surged back above $83,000, now eyeing the $85,000 resistance level.
Market analyst Enmanuel Cardozo believes the second quarter could see further gains, particularly if the Federal Reserve follows through on expected rate cuts and Trump’s policies favor the crypto market.
According to Cardozo, if Bitcoin can break through the $88,668 resistance, it may surge toward the $100,000 mark. However, he warns that a dip is still possible if broader macroeconomic factors cause a slowdown.
Despite the optimism, Presto Research Analyst Min Jung remains cautious, pointing out that the market is in a “wait-and-see” phase as details about Trump’s tariffs remain unclear.
Other Cryptos Join the Rally
While Bitcoin is leading the charge, other major cryptocurrencies are also showing signs of recovery. XRP has edged up 2%, reaching $2.10, while Solana has gained 0.6% to hit $126.
Other notable cryptocurrencies like BNB, Dogecoin, and Cardano have also seen slight price increases, suggesting that the entire market is catching the bullish wave.