{"id":124908,"date":"2025-03-12T12:15:40","date_gmt":"2025-03-12T12:15:40","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124908"},"modified":"2025-03-12T12:15:40","modified_gmt":"2025-03-12T12:15:40","slug":"eu-retaliatory-tariffs-threaten-bitcoin-correction-to-75k-analysts","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124908","title":{"rendered":"EU retaliatory tariffs threaten Bitcoin correction to $75K \u2014 Analysts"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe European Union\u2019s latest retaliatory tariffs have deepened macroeconomic uncertainty, prompting crypto analysts to forecast increased volatility for Bitcoin prices, which may drop below the critical $75,000 support level.<br \/>\nThe EU will impose counter-tariffs on 26 billion euros ($28 billion) worth of US goods starting in April, the European Commission announced on March 12, responding to US President Donald Trump\u2019s recent move to impose 25% tariffs on steel and aluminum imports.<br \/>\nThis move is the latest retaliatory tariff announcement in response to US import tariffs, which may trigger renewed trade war concerns and market volatility in the near term.<br \/>\nSource: European Commission\u201cCounter tariffs aren\u2019t a positive signal as they suggest a potential bounce back from the other side again,\u201d according to Marcin Kazmierczak, co-founder and chief operating officer of blockchain oracle solution firm, RedStone.<br \/>\nThis may see Bitcoin (BTC) revisit $75,000, he told Cointelegraph, adding that \u201cgiven stablecoins and RWAs [real world assets] remain at all-time-highs, it has the potential to rebound.\u201d<br \/>\n\u201cI don\u2019t believe that news will have a strong impact for now, but we\u2019ll observe the response on the US end,\u201d he added.<br \/>\nRelated: Bitcoin reserve backlash signals unrealistic industry expectations<br \/>\nOther analysts still eye a temporary Bitcoin retracement below $72,000 as part of a \u201cmacro correction\u201d during the current bull market cycle before Bitcoin\u2019s next leg up.<br \/>\nStill, import tariffs are not the only factor influencing Bitcoin\u2019s price, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph, adding:<br \/>\n\u201cThe prices are correlated with wider economic conditions but are also influenced by factors beyond trade policies. Worldwide institutional adoption, regulatory updates and high utility make it more resilient than traditional financial instruments.\u201d<br \/>\nBTC\/USD, 1-month chart. Source: CointelegraphEurope announced its retaliatory tariffs the same day Trump\u2019s increased 25% tariffs on all steel and aluminum imports took effect. Europe\u2019s current suspension of tariffs on US goods will end on April 1, and its new tariffs will take full effect by April 13.<br \/>\nRelated: Bitcoin may benefit from US stablecoin dominance push<br \/>\nGlobal trade tariff uncertainty may limit markets until April 2<br \/>\nTraditional and cryptocurrency markets may be limited by tariff-related concerns until April 2, according to Aurelie Barthere, principal research analyst at Nansen.\u201d<br \/>\n\u201cTariff noise is likely to continue till after April 2, and the reciprocal tariff announcements, and then negotiations, and put a lid on risk appetite.\u201d<br \/>\n\u201cThat said, we observed tentative stabilization in the major US equity indexes and BTC yesterday, at the low of their respective RSI, which we are monitoring,\u201d she added.<br \/>\nTrump threatened to \u201csubstantially increase\u201d duties on cars entering the US from Canada, set to take effect on April 2, unless Canada decides to drop some of its trade tariffs.<br \/>\nMagazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler\u2019s Digest, Feb. 23 \u2013 March 1<a href=\"https:\/\/cointelegraph.com\/news\/eu-retaliatory-tariffs-bitcoin-price-uncertainty-trade-tensions?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe European Union\u2019s latest retaliatory tariffs have deepened macroeconomic uncertainty, prompting crypto analysts to forecast increased volatility for Bitcoin prices, which may drop below the critical $75,000 support&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124908"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124908"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124908\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124908"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}