Bitcoin Price Analysis – Can Trump’s Tariff Announcement Rekindle a Recovery? Analysts Target $150K

Highlights:

• Bitcoin price has soared almost 1% to $85,038 ahead of Trump’s tariff announcement.
• Crypto analysts suggest that Trump’s tariffs could move BTC to the $150,000 mark.
• Coinglass data shows a weakening trend. Can BTC bulls rebound above $90,000?

The Bitcoin price has reclaimed the $85,000 mark, surging almost 1%, ahead of Trump’s ‘Liberation Day.’ Donald Trump’s impending tariff policies have a market effect across cryptocurrency markets. Experts who research the effect of tariffs on Bitcoin in the short term say that these tariffs will push Bitcoin to make unprecedented price spikes, up to $150,000. 

Trump to deliver 'Liberation Day' announcement from Rose Garden flanked by Cabinet members https://t.co/H7NiMroI7Z

— Fox News (@FoxNews) April 2, 2025

This trade tariff transforms the global trade relationship into a pervasive strategic plan, producing temporary market financial instability. From a high of $109,000 in the year, the Bitcoin price, which is usually risky, fell steeply to its current level of around $85,000. 

Moreover, Coinglass data shows mixed reactions as the open interest plummets by 0.48% despite a surge in volume by 9.76%. This shows a weakening of the current trend, as fewer traders hold open positions in the BTC market. Can Bitcoin price reclaim the $90,000 mark ahead of Trump’s tariff announcement? Let’s delve into the technical outlook and decipher more.

Bitcoin Price Outlook

Despite the bulls’ strength, the Bitcoin price is still struggling below the key moving averages. At press time, the pioneering crypto was up almost 1% to trade at $85,038. Despite the recent strength of the bulls, the bears still take dominance, painting the bigger picture bearish.

Market volumes have, however, shown a slight increase, surging 2%, signaling a recent rise in market activity. As Bitcoin price trades near its critical resistance level, the potential for volatility remains high, especially with the upcoming reopening of traditional financial markets.

A quick look at the Bitcoin daily chart timeframe shows that the market remains within a falling wedge pattern, reinforcing a bearish trend. The BTC price is currently hovering around $85,038, slightly below the 50-day and 200-day MAs. This outlook suggests that the sellers still have the upper hand, with weak bullish momentum. 

If the sellers continue dominating the market, the king coin could keep dropping. In such a case, they could retest the key support level at $82,279. A break below this level will call for a deeper correction to the $80,231 and $78,182 mark. These support levels could attract buyers and investors looking to enter the market at lower levels.

Can BTC Reclaim the $90,000 Mark Ahead of Trump’s Tariffs?

Conversely, if Bitcoin’s price gains strength and breaks above the 50-day and 200-day MAs, it could spark a bullish rally toward the upper boundary of the falling wedge. A decisive breakout above the $94,572, $97,645, and $99,000 resistance levels could indicate a shift in trend. This would lead to further upside potential, invalidating the bearish trend. Adding to the outlook, the rising trading volume suggests renewed market activity among market participants.

The RSI is notably northbound, hurtling toward the 50-mean level. Its position at 48.71 indicates renewed bullish sentiment, which will be validated once the RSI crosses the mean level. If the buying pressure intensifies, it could push the RSI to 64, confirming a bullish breakout. Meanwhile, traders should closely monitor the next few daily candlestick formations to confirm price direction before taking significant positions.