Bitcoin Nears $81K as XRP, ADA Decline Amid Tariff War Concerns
Global financial markets continue to face turbulence as Bitcoin (BTC) hovers just above $81,500 during Monday’s Asian trading session. The broad
er cryptocurrency market also experienced declines, with major tokens such as XRP, Cardano’s ADA, Solana’s SOL, Dogecoin (DOGE), and Ethereum (ETH) posting losses.
Market Trends and Reactions
The downturn in digital assets coincides with traditional stock markets opening lower for the fourth consecutive day. Investors are bracing for the announcement of new tariffs by U.S. President Donald Trump, expected to be revealed on April 2.
XRP and ADA led the losses among major cryptocurrencies, each dropping by approximately 5% over the past 24 hours. Meanwhile, SOL, DOGE, and ETH declined between 2% and 3%.
The CoinDesk 20 Index, which tracks the performance of the largest digital assets, fell by 2.6%, reflecting overall market weakness.
Bitcoin ETF Flows and Market Sentiment
Despite the market dip, Bitcoin exchange-traded funds (ETFs) reported weekly inflows of $196 million, signaling continued investor interest. On the other hand, Ethereum ETFs saw net outflows totaling just over $8 million, according to data from SoSoValue.
Global Economic Uncertainty
Stock markets in Asia reflected investor unease, with Hong Kong’s Hang Seng Index falling 1.7%, Japan’s Nikkei 225 dropping 3.8%, and South Korea’s KOSPI index slipping 3%. The sell-off underscores concerns over the impact of potential trade restrictions on export-heavy economies.
Meanwhile, U.S. and European futures also posted losses as traders pivoted toward safe-haven assets. Gold surged to a record high, and U.S. Treasury yields fell amid increased demand as portfolio managers reassessed their risk exposure.
Crypto Token Unlocks and Market Outlook
Beyond macroeconomic factors, token unlock schedules are influencing market sentiment. Data from Tokenomist.ai indicates that approximately $751.2 million worth of tokens, including SUI and DYDX, are set to be unlocked this week. A significant increase is expected in May, with around $4.4 billion in tokens scheduled for release at current market prices.
As uncertainty looms, traders and investors will closely monitor upcoming developments, particularly the anticipated tariff announcements, which could have far-reaching implications for both traditional and digital markets.
Conclusion
The ongoing uncertainty surrounding the global economy and cryptocurrency markets highlights the need for careful investment strategies. With looming tariff announcements and continued volatility in traditional and digital assets, traders should remain vigilant and stay updated on market trends.
Disclaimer
This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments are highly volatile and carry risks. Readers should conduct their own research and consult with a financial professional before making any investment decisions.Bitcoin Holds Above $81K as Markets Brace for New TariffsBitcoin Holds Above $81K as Markets Brace for New TariffsBitcoin Holds Above $81K as Markets Brace for New Tariffs
