{"id":22095,"date":"2025-03-15T12:13:40","date_gmt":"2025-03-15T10:13:40","guid":{"rendered":"https:\/\/forklog.com\/en\/trump-tariffs-and-bitcoin-at-80000-what-is-going-on-with-the-market\/"},"modified":"2025-03-15T12:13:40","modified_gmt":"2025-03-15T10:13:40","slug":"trump-tariffs-and-bitcoin-at-80000-what-is-going-on-with-the-market","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/trump-tariffs-and-bitcoin-at-80000-what-is-going-on-with-the-market\/","title":{"rendered":"Trump, tariffs and bitcoin at $80,000: what is going on with the market?"},"content":{"rendered":"

On January 20, on the eve of the inauguration of US president-elect Donald Trump, bitcoin set a new<\/a> all-time high, crossing $109,000. Buoyed by campaign rhetoric<\/a>, the crypto community widely expected the \u201cbullish banquet\u201d to continue.<\/p>\n

Yet euphoria soon turned to panic: amid a “critical correction”<\/a>, the fear index reached levels<\/a> last seen in May 2022, when the Terra DeFi ecosystem and its token LUNA collapsed.\u00a0<\/p>\n

Market capitalisation continues to shrink, and analysts describe<\/a> the mood as a mix of \u201cexhaustion, hopelessness and capitulation\u201d. Many now ask: \u201cHas the bull market ended?\u201d and \u201cHow can that be, when bull runs usually last at least another year after the halving?\u201d.\u00a0<\/p>\n

ForkLog has sought to make sense of the turmoil, gathering expert views and forecasts.<\/p>\n

A bear market ahead of schedule?<\/h2>\n

Bitcoin is often likened to digital gold and marketed as a haven asset. That narrative raises scepticism<\/a> among many experts. In their view, physical gold still remains<\/a> the true \u201csafe harbour\u201d for investors, whereas the first cryptocurrency in turbulent periods behaves more like volatile tech stocks.<\/p>\n

On March 14 the gold price set<\/a> a record high, topping $3,000 per troy ounce.<\/p>\n

\n\u201cRight now 1 BTC buys 27.7 ounces of gold. At the peak in 2021 it was 36.3 ounces. That means, in real money, bitcoin\u2019s price has fallen 24%. Thus, the cryptocurrency has been in a stealth bear market for the past three and a half years,\u201d \u2014 wrote<\/a> Euro Pacific Capital president Peter Schiff.<\/cite><\/p><\/blockquote>\n

Bitcoin broke support at $80,000 shortly after Trump imposed<\/a> 25% tariffs on trade with the EU, sharply increasing turbulence and darkening the macro backdrop.<\/p>\n

\"1-BTCUSDT_2025-03-14_13-24-06_b84ca\"
Daily BTC\/USDT chart on Binance. Data: TradingView<\/a> as of 14.03.2025.
<\/figcaption><\/figure>\n

The chart shows price has slipped below the 200-day moving average \u2014 the conventional boundary between bull and bear markets. That level now acts as resistance, having flipped from support. One positive is a divergence<\/span> on the RSI.\u00a0<\/p>\n

At the time of writing (March 14) the digital gold trades around $85,000, up 4% on the day. Even so, the price remains more than 20% below its ATH<\/span>.\u00a0<\/p>\n

Crypto traders expect<\/a> further declines in March, having accumulated $550m of put options with a $70,000 strike.<\/p>\n

\n\u201cThe market is facing significant challenges as the macroeconomic situation deteriorates, and crypto assets are no exception,\u201d said Derive researcher Sean Dawson.<\/cite><\/p><\/blockquote>\n

Another headwind has been a multi-day outflow<\/a> from spot ETFs, widely read as a bearish signal.<\/p>\n

Also notable is Ethereum\u2019s behaviour \u2014 the coin\u2019s rate against bitcoin fell<\/a> to its lowest since May 2020, unsettling even long-term HODLers.<\/p>\n

\"3-ETHBTC_2025-03-14_18-14-16_74baf\"
Weekly ETH\/BTC chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

It may yet be fine<\/h2>\n

On the other hand, the downtrend may fade<\/a> as price approaches the $73,835 level that was broken in November, CoinDesk\u2019s analysts argue.<\/p>\n

\"2-73835\"
Bitcoin price and the support level at $73,835. Data: CoinDesk<\/a>.<\/figcaption><\/figure>\n

They observe that since December holders have been taking profits into cash after triple-digit prints. CryptoQuant researchers likewise note waning buy-side pressure since late last year.<\/p>\n