Bitcoin Tops $88K After Trump Tariff Update

Bitcoin topped $88K following President Trump’s ‘less severe’ tariff plans scheduled for April 2nd. For an extended recovery, the previous support at $90K-$93K remains crucial.

On Monday, Bitcoin (BTC) surged to $88K after macro analysts from QCP Capital and Coinbase had warned of potential risks tied to renewed tariff wars in early Q2. The relief rally after last week’s Federal Reserve meeting helped Bitcoin extend its rise. However, analysts are divided on Bitcoin’s recovery prospects beyond $90K.

Mixed Bitcoin Projections

Bullish analysts refer to technical charts and structural changes, suggesting BTC can reclaim $90K and reach a new all-time high (ATH). Trader Bob Loukas expressed optimism, noting that bulls are in control and predicting a 15-week rally, saying:
> “No real excuses left now for the bulls, the Cycle count is on their side. (Week 3)…If the bull market is in control we could move mostly up for 15 weeks.”

Arthur Hayes, BitMEX founder, shared a similar bullish perspective, stating BTC might touch $110K and even reach $250K before testing recent lows around $76K. He commented:
> “(Bitcoin) price is more likely to hit $110k than $76.5k next. If we hit $110k, then it’s yachtzee time, and we ain’t looking back until $250k.”

Conversely, some analysts anticipate range-bound trading or potential dips. BTC trader Cryp Nuevo predicted another dip to the $80K area, citing a possible liquidity-driven stop loss hunt below $83K.

Glassnode researcher VizArt warned that an ATH would be ‘a pipe dream’ unless BTC reclaims $90K-$93K, indicating that recent investors in that range may pressure prices downward. He stated:
> “Most recent investors…have a cost basis between $90k–$93k. Any bounce into this zone is likely to face selling pressure from those seeking to exit at break-even. Without reclaiming this supply zone, a new ATH remains a pipe dream.”

Bitfinex analysts concur that BTC may experience range-bound action due to reduced speculative interest. They noted:
> “A contraction in the Hot Supply metric—from 5.9 percent in December 2024 to 2.8 percent today—underscores the cooling of speculative participation.”

For sustained recovery, they suggest macro clarity and renewed ETF inflows are necessary. Last week, spot BTC ETFs saw a $744M inflow, breaking a 5-week outflow streak. The market’s reaction to Trump’s April tariffs remains uncertain.