Analyst: EU retaliatory tariffs could potentially cause Bitcoin to pull back to $75,000
According to Cointelegraph, the EU's latest retaliatory tariffs have heightened macroeconomic uncertainty, prompting crypto analysts to predict that Bitcoin price volatility will intensify and could break below the key $75,000 support level. The European Commission announced on March 12 that from April onwards, the EU will impose counter-tariffs on US goods worth €26 billion ($28 billion) in response to President Donald Trump's recent imposition of a 25% tariff on imported steel and aluminum. This move is the latest statement of retaliatory tariffs against US import duties and may trigger new trade war concerns and market fluctuations in the short term.
Marcin Kazmierczak, co-founder and COO of blockchain oracle solution company RedStone said: "Counter-tariffs are not a positive signal as it indicates that there might be another rebound from the other side. This could cause Bitcoin prices to retest $75,000 from $82,725. However, given that stablecoins and real-world assets (RWA) are still at historical highs, Bitcoin has a chance to bounce back. I don't think this news will have a strong impact for now but we'll observe America's reaction." Other analysts still believe that in the current bull market cycle temporary fallbacks of bitcoin prices below $72,000 are part of "macro adjustments", after which bitcoin will continue its upward trend.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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