Yigit Taha OZTURK 
Bitcoin (BTC) is facing downward pressure as US trade tariffs create a fresh hurdle for bulls, dragging prices towards $80,000. BTC/USD has already dropped more than $10,000 from its recent highs, leaving investors on edge.
Bitcoin Drops Sharply: Could $78,000 Be Tested?
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $82,037 before rebounding slightly toward $85,000. However, market weakness persists, raising concerns that $78,000 levels could be retested.
This sharp decline was triggered by the activation of US trade tariffs against Mexico and Canada, adding further uncertainty. Additionally, the lack of clarity on the US strategic crypto reserve plan is fueling further hesitation in the market.
Trump’s Trade Policies Weigh on Bitcoin!
In its latest market analysis, QCP Capital noted that renewed tariffs on Canada, Mexico, and China have amplified investor concerns over growing trade tensions.
Even the SEC’s recent move to pause and dismiss enforcement cases against crypto firms failed to ease selling pressure, indicating a broader risk-off sentiment. The firm further stated:
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“This downturn could intensify pressure on Trump, especially after the strong support and donations he received from the crypto community during his campaign.”
Is There Hope for a Market Rebound?
Despite the negative sentiment, analysts at Mosaic Asset see potential for a short-term rally. They argue that bearish sentiment and oversold conditions often pave the way for a rebound.
Additionally, historical trends in S&P 500 seasonality suggest that March could be a strong month for risk assets. Over the past 15 years, March has been the best-performing month in the first half of the calendar year.
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