Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Bitcoin Tops $86K on ‘Liberation Day’

Bitcoin Tops $86K on ‘Liberation Day’

Bitcoin.comBitcoin.com2025/04/02 23:00
By:Bitcoin.com

President Donald Trump is set to announce new U.S. tariffs on the country’s global trading partners on Wednesday afternoon and bitcoin is trending upward on the news.

The digital asset saw a modest 1.93% gain over the past 24 hours, bringing its price to $86,478.86 at the time of reporting, according to Coinmarketcap. Despite this short-term uptick, BTC remains slightly down 0.31% over the past seven days.

Bitcoin Tops $86K on ‘Liberation Day’ image 0

( BTC price / Tradingview)

 

 

Bitcoin’s 24-hour price range fluctuated between $83,939.88 and $86,521.54, showing resilience after recent market fluctuations. Trading volume increased by 8.53%, reaching $28.77 billion, indicating renewed market activity ahead of Trump’s trade announcement. Meanwhile, BTC’s market capitalization rose by 1.98% to $1.71 trillion.

Despite ongoing uncertainty, BTC dominance continued its upward trajectory, climbing 0.64% to 62.92%, highlighting its strength against altcoins. Additionally, BTC futures open interest surged 4.31% to $56.53 billion, reflecting heightened investor engagement.

Bitcoin Tops $86K on ‘Liberation Day’ image 1

( BTC dominance / Trading View)

 

 

Short sellers found themselves on the losing end once again, as $12.93 million in liquidations occurred over the past 24 hours, $12.91 million of which were short positions. This indicates that many traders incorrectly bet on a BTC decline, forcing them to exit their positions.

 

Trump has dubbed April 2nd “Liberation Day” in the U.S. and is set to kick off a trade war with the country’s global trading partners when he officially announces new sweeping tariffs on Wednesday afternoon at 4 p.m. eastern standard time.

The move could bolster bitcoin’s price as tariffs may weaken the U.S. dollar, driving investors to safe-haven assets such as gold and BTC.

While bitcoin remains somewhat volatile, today’s tariff decision could act as a catalyst for BTC’s next move. If markets perceive Trump’s trade policies as disruptive to traditional financial stability, bitcoin could break higher toward the $90,000 mark in the near term. But if the announcement fails to shake global markets, BTC may continue consolidating within its current range.

 

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

This Week's Preview: Macro "Flood Release" Week—Delayed CPI and the Bank of Japan's "Rate Hike Pursuit"

Key global market data will be released this week, including the U.S. non-farm payroll report, CPI inflation data, and the Bank of Japan's interest rate decision, all of which will significantly impact market liquidity. Bitcoin prices are fluctuating due to macroeconomic factors, while institutions such as Coinbase and HashKey are striving to break through via innovation and public listings. Summary generated by Mars AI This summary was generated by the Mars AI model. Its accuracy and completeness are still being iteratively improved.

MarsBit2025/12/15 05:05
This Week's Preview: Macro "Flood Release" Week—Delayed CPI and the Bank of Japan's "Rate Hike Pursuit"

Weekly Hot Picks: The Fed Cuts Rates and Indirectly "Injects Liquidity"! Silver Replaces Gold as the New Favorite?

The Federal Reserve is cutting interest rates and starting bond purchases, while Japan and other regions may turn to rate hikes. Silver repeatedly hits record highs, SpaceX is set for a 1.5 trillion IPO, and Oracle becomes the litmus test for the AI bubble. The Russia-Ukraine peace process is stuck on territorial issues, the US seizes a Venezuelan oil tanker... What exciting market events did you miss this week?

Jin102025/12/15 03:34
Weekly Hot Picks: The Fed Cuts Rates and Indirectly "Injects Liquidity"! Silver Replaces Gold as the New Favorite?

Key Highlights to Watch at Solana Breakpoint 2025

How does Solana seize market share in an increasingly competitive landscape?

Chaincatcher2025/12/15 03:33
Key Highlights to Watch at Solana Breakpoint 2025
© 2025 Bitget