The post Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) faces “very high risk” conditions from US trade tariffs, which could spark a slump to $71,000. In his latest analysis, Charles Edwards, the founder of quantitative Bitcoin and digital asset fund Capriole Investments, warned about the impact of “higher than expected” US trade tariffs. ”Higher than expected” US tariffs pressure Bitcoin Bitcoin reacted noticeably worse than US stocks after President Donald Trump announced worldwide reciprocal trade tariffs on April 2. BTC/USD fell up to 8.5% on the day, while the S&P 500 managed to end the Wall Street trading session 0.7% higher. Edwards said that US business expectations are reflecting the type of uncertainty seen only three times since the turn of the millennium. “Consider this as tariffs come in higher than expected. The Philly Fed Business Outlook survey is showing expectations today comparable to 2000, 2008 and 2022,” he told X followers. An accompanying chart showed the Philadelphia Fed’s Business Outlook Survey (BOS) back under 15 for the first time since the start of 2024. Late 2022 was the pit of the most recent crypto bear market when BTC/USD reversed at $15,600. Philadelphia Fed Business Outlook Survey vs. S&P 500. Source: Charles Edwards/X In Capriole’s latest market update on March 31, Edwards acknowledged that BOS data can produce unreliable signals regarding market sentiment but argued that it should not be ignored. “While no guarantee of the future outlook (this metric does have false signals) this is a data reading we have had before at very high risk zones (year 2000, 2008 and 2022), telling us to keep a very open mind,” he wrote, adding:  “Especially if the tariff war escalates significantly beyond current expectations or corporate margins start to fall.” For Bitcoin, a key level to watch in the tariff aftermath is $91,000, with Capriole suggesting that…

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Filed under: News - @ April 4, 2025 2:29 am