Tariffs Spark 80% Bearish Sentiment, $40,000 Bitcoin Target

Market sentiment has taken a significant downturn due to the recent imposition of tariffs, with a majority of traders adopting a bearish outlook. According to Adam from Greeks.live, the prevailing bearish sentiment is largely influenced by macro concerns centered around the tariffs. Traders are increasingly pessimistic about the economic outlook, citing the potential for prolonged trade disputes and the resulting uncertainty as key factors driving their bearish stance. The tariffs have been criticized for their potential to disrupt global supply chains and increase costs for businesses and consumers alike.

Key price levels have been identified by traders, with $80,000 serving as immediate support and a bearish target extension to $40,000. Only a few isolated bullish voices believe that $100,000 could be reached within a few months. The tariffs have eroded market trust, and even if the tariffs are reduced before the April 9 deadline, the damage to trade relations has been done.

Gold is seen as a hedge against Bitcoin volatility, with some traders using PAXG to maintain portfolio stability in uncertain market conditions. The economic fallout from these measures has been swift, with financial markets experiencing significant volatility in response to the new trade policies. The bearish sentiment among traders reflects a broader concern about the potential long-term impact of tariffs on economic growth and stability. The situation underscores the delicate balance between trade policy and market confidence, highlighting the need for careful consideration of the potential consequences of such measures.