Crypto Market Outlook: Bitcoin Remains Steady Amid Trump's Tariff Uncertainty

By James Van Straten (All times ET unless otherwise stated) The highly anticipated 'Liberation Day' announced by President Trump has arrived, and the markets are anxiously waiting for updates on U.S. tariffs, with even the administration seeming less than optimistic. Reports suggest that Commerce Secretary Howard Lutnik may be held accountable for advocating aggressive tariffs if the U.S. enters a recession, as indicated by The Independent, a U.K. online publication. The Atlanta Fed's GDPNow model forecasts a first-quarter contraction of -3.7% for U.S. real GDP, signaling a likely recession. This is a significant downward revision from previous estimates of +3.9% two months ago, +2.3% last month, and -1.8% just two weeks ago. Although Trump has not disclosed which country the tariffs will target, an announcement is scheduled for after the stock market closes at 4 p.m. Meanwhile, Bitcoin (BTC) remains stable, trading relatively unchanged and staying above $85,000. U.S. equities closed higher on Tuesday, but futures are pointing slightly lower heading into Wednesday. Currently, bitcoin is 25% below its all-time high of $109,000 on Jan. 20, placing it mid-range among the 'Magnificent 7' tech stocks in terms of performance. Here's how they compare to their respective all-time highs: Apple is down 17%, Microsoft 22%, Amazon 24%, Meta 25%, Google 26%, NVIDIA 32%, and Tesla 50%. Bitcoin's resilience is notable compared to past cycles. In 2022, BTC fell 75% from its peak to a low of $15,500, more than twice the Nasdaq-100 ETF (QQQ)'s 34% decline. This year, bitcoin has dropped 30% versus 16% for QQQ, indicating a relative drawdown of 1.87 times. This relative performance suggests that bitcoin has become more resilient over time, despite ongoing volatility. The tariff announcement and market reaction will be crucial to watch. Stay informed. Key Events to Watch: Token Events Conferences Token Talk By Shaurya Malwa Derivatives Positioning Market Movements Bitcoin Statistics: Technical Analysis Crypto Equities ETF Flows Spot BTC ETFs: Spot ETH ETFs Source: Farside Investors Overnight Flows Chart of the Day While You Were Sleeping In the Ether