Crypto Market Records Mild Losses Ahead of Trump’s Tariff Rollout

The cryptocurrency market experienced slight losses on Monday, just two days before President Donald Trump’s scheduled tariff implementation.

At the time of writing, Bitcoin (BTC) had risen nearly 1% in the past 24 hours, trading around $83,673. Meanwhile, Ethereum (ETH) gained 1.4% to $1,844, while XRP declined 0.6% to $2.13. Solana (SOL) recorded a 2% increase, trading at $127.

According to CoinGecko, the total cryptocurrency market capitalization fell by 1.3% in the past 24 hours to $2.79 trillion. During this period, total liquidations amounted to $327 million, with BTC leading with $104 million, followed by ETH at $93 million, according to CoinGlass.

Dampened Sentiment

"Following the weekend sell-off, Bitcoin has rebounded slightly, reclaiming the $83,000 mark,” said Vijay Pravin, founder and CEO of bitsCrunch. “However, this modest recovery comes as market sentiment has been deflated badly by the omnipresent talk of aggressive tariffs from President Trump.”

However, Pravin shared that the outlook isn't all negative, highlighting that the so-called 1Y+ HODL wave indicator—which tracks the percentage of Bitcoin addresses holding BTC for over a year—has been steadily increasing.

This suggests a growing preference among investors to adopt a long-term holding strategy, he explained. “Today's slight market movements may indicate that investors view current price levels as a solid entry point, but the outcome of the tariffs announcement will likely have a significant impact on the market trajectory,” Pravin added.

Tariff Anxiety

Trump’s proposed trade tariffs have been a key focus for markets, with investors closely analyzing their potential economic impact. Now, as Apr. 2 approaches—a date Trump has called “Liberation Day”—market participants are preparing for how the policies will unfold and their subsequent implications.

"The crypto market has followed broad asset markets responding to tariff anxieties,” said Steven Lubka, Head of Swan Private at Swan Bitcoin. “While market participants are quite bearish and fearful, there is a good possibility April 2nd marks peak tariff fears and could be the end of this narrative epoch.”

Trump has said that the tariffs, which target multiple nations—including China, Canada, and Mexico—aim to incentivize companies to relocate manufacturing and supply chains to the US. The administration claims the move will create jobs and revitalize domestic industries that have struggled due to globalization.