EU retaliatory tariffs threaten Bitcoin correction to $75K — Analysts

Bitcoin could drop under the $75,000 critical support level, according to crypto analysts, following the latest European Union retaliatory duties.

In April, the European Commission will begin imposing counter-tariffs against US products worth 26 billion euro ($28 billion). announced On March 12, the government responded to US President Donald Trump’s recent decision to increase tariffs by 25% on imports of steel and aluminium.

This is just the latest announcement of tariffs in retaliation to US import tariffsThis may lead to renewed. trade war concerns Market volatility is expected to continue in the short term.

“Counter tariffs aren’t a positive signal as they suggest a potential bounce back from the other side again,” Marcin Kazmierczak co-founder, chief operating officer and blockchain oracle firm RedStone.

Bitcoin (BTCHe told Cointelegraph that he would revisit the $75,000 figure. “given stablecoins and RWAs [real world assets] remain at all-time-highs, it has the potential to rebound.”

“I don’t believe that news will have a strong impact for now, but we’ll observe the response on the US end,” He also added.

Related: Bitcoin reserve backlash signals unrealistic industry expectations

Some analysts are still predicting a temporary Bitcoin retracement below $72,000 As part of a “macro correction” Bitcoin will continue to rise during this current bull market before the next leg of its growth.

Ryan Lee, Chief Analyst at Bitget Research told Cointelegraph that import tariffs were not the sole factor in determining Bitcoin’s value.

“The 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.”

Europe’s retaliatory trade tariffs were announced on the same day that Trump’s 25% increase in tariffs for all aluminum and steel imports went into effect. Europe’s suspension of US tariffs ends on April 1 and their new tariffs take full effect April 13

Related: Bitcoin may benefit from US stablecoin dominance push

Markets may be restricted until April 2, due to global trade tariff uncertainties

Aurelie Barrthere, Nansen’s principal research analyst and expert on traditional markets and cryptocurrency, says that tariffs may limit the market until at least April 2.”

“After April 2 there will be more tariff talk, then reciprocal tariffs announcements. Negotiations and a reduction in risk appetite are likely.”

“Yesterday, the major US equity indices, BTC, and their respective RSIs, which we monitor, showed signs of stabilization.” she added.

Trump threatened to “On April 2, the US is set to “substantially increase” duty rates on vehicles entering from Canada unless Canada agrees to lower some trade tariffs.

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