Bitcoin and altcoins further extended their losses amid a sell-off triggered by US President Donald Trump’s escalating tariff war.
While Bitcoin (BTC) and Ethereum (ETH) are reaching levels not seen for a long time, investors’ losses have also increased.
While the CEO of CryptoQuant stated that the bull market in Bitcoin is over, investors who are in a state of anxious waiting are wondering whether the decline will continue.
At this point, Peter Chung, Head of Research at Presto Research, said that amid the increasing caution regarding the speed and scope of the customs tariff applications announced by Trump on April 2, risk assets, including Bitcoin, are moving with a ‘Sell Now, Think Later’ mentality.
Chung stated that Bitcoin and altcoins can recover, but the timing and the level at which it will hold depends on three main factors, and listed them as follows:
“The timing and how of the recovery will depend on how the rest of the world responds to Trump’s tariffs, whether the Trump administration can come up with a coherent long-term plan for the future, and what people expect the Fed to do to address the current instability.
Growth Fears continue unabated and markets are pricing in more than 100 basis points of rate cuts this year.”
*This is not investment advice.
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