While Bitcoin has seen a slight recovery over the past 24 hours, the analyst said the risk of a downside is not completely over.
Accordingly, Nansen analyst Aurelie Barthere said that the European Union's recent retaliatory tariffs against the US have deepened macroeconomic uncertainty and could lower the price of Bitcoin.
The EU will impose tariffs on 26 billion euros ($28 billion) worth of US goods from April, the European Commission said, in response to US President Donald Trump's decision to impose 25 percent tariffs on steel and aluminium imports.
Stating that this mutual retaliation is negative for Bitcoin and risky assets, the analyst said that this situation will limit the recovery in the Bitcoin price, increase volatility and may drop it below the critical $ 75,000 support level.
RedStone co-founder Marcin Kazmierczak also said that reciprocal retaliatory tariffs are not positive and increase the risk of decline.
“Counter tariffs are not a positive signal because they indicate that there is a potential for retaliation from the other side.
There is potential for a recovery as stablecoins and RWAs remain at all-time highs, but these retaliations could hit Bitcoin and send the price back to $75,000.
“For now, I don't think this news will have much impact, but we will wait for the US's reaction.”
Bitget Research chief analyst Ryan Lee stated that import duties are not the only factor affecting the Bitcoin price, and listed other factors as follows:
“Bitcoin and cryptocurrency prices are correlated with broader economic conditions but are also affected by factors beyond trade policies. Worldwide institutional adoption, regulatory updates, and high utility make it more resilient than traditional financial instruments.”
*This is not investment advice.
