Bitcoin USD: With Trump's April 2 tariff deadline just a few days away, traders have started adopting a cautionary stance as they await clarity on trade regulations. Major cryptocurrencies continue to witness a volatile trajectory. For instance, after falling below the $80k level, Bitcoin bounced back to the psychological $85k price mark last week. However, the price range remained highly volatile.
So far this month, Bitcoin's price has largely remained range-bound. Post the Federal Reserve's interest rate meeting, the crypto coin made some marginal gains as lower-than-expected pace of growth data made investors jittery. As for now, the tariff deadline on US imports continues to paint a blurry picture for investors.
Bitcoin Price Today
On March 24, Bitcoin was trading at $86,639.38 price level, surging by more than 3% in the last 24 hours. The overall market capitalisation stood at around $1.72 trillion as per CoinMarketCap data. The overall sentiment remained largely bullish, thanks to strong institutional demand.
Meanwhile, the crypto coin remains the dominant cryptocurrency as Bitcoin currently holds $94 billion in assets. As per data by CoinMarketCap, Bitcoin-related exchange-traded funds attracted $83 million in inflows, indicating strong institutional demand.
This also signals heightened investor confidence amidst uncertainty in the geopolitical space. Ethereum also witnessed a similar trajectory and was trading at $2,018.30 price level, marking a surge of over 0.78% in the last 24 hours, The overall market capitalisation also increased to $243.3 Billion.
Trump's April 2 tariff deadline
Trump is set to impose 'reciprocal' tariffs on US imports starting April 2. This has kept investors on edge due to a lack of clarity on the tariff base and how they will be implemented, maintaining a cautious market mood. The uncertainty has also made it difficult for investors to calculate the overall impact of these tariffs.
On top of this, the Fed's recent interest rate meeting signaled a cautious tone as sticky inflation and lower-than-anticipated forecast of the US GDP data have made investors concerned about the growth outlook.
