Crypto Market Live Today—BTC Slips Below $82,000 While ETH, SOL, & XRP Juggle Around Crucial Support

The cryptocurrency market has opened the week on a bearish note, with most token prices plunging close to their pivotal support levels. Bitcoin, in particular, struggled to maintain its rally above the $82,000 mark, slipping below this key level. Ethereum and XRP are also facing downward pressure, hovering around $1800 and $2, respectively. Despite this overall negative trend, Four (FORM) and Zcash (ZEC) have shown some strength, with marginal gains ranging between 5% and 9%.

Why is the Crypto Market Down Today?

One of the main reasons for the current market pullback is the uncertainty surrounding the new tariffs set to be imposed by the United States on April 2, 2025. This has led to bearish sentiments among investors, with ETFs recording consecutive outflows. Experts believe that these tariffs could potentially lead to an increase in inflation rates, which could have a negative impact on the market. Additionally, key economic indicators such as the EU CPI, unemployment rates, US unemployment data, non-farm payrolls, and a speech by Fed Chair Powell scheduled for this week are expected to contribute to market volatility. The rising Bitcoin dominance also poses a risk to the entire cryptocurrency market in case of a further price drop.

What’s Next for Bitcoin Price and the Crypto Markets?

Despite the recent price drop, Bitcoin still holds potential for a bullish rebound. Reports indicate that long-term holders and whales are accumulating BTC once again, signaling bullish possibilities. However, external factors such as tariffs and inflation have created uncertainty in the market, leading to doubts among investors who were hoping for a strong Q1 performance. Nevertheless, experts believe that Bitcoin could serve as a hedge against market chaos if conditions stabilize.

Technical indicators currently suggest a bearish trend, indicating the possibility of market corrections. Following a bearish quarterly close, there may be some relief with the start of a new quarter. However, the sluggish behavior of the bulls could impede the progress of the rally and keep the market under bearish pressure. Overall, while the market is currently facing challenges, there is still potential for a positive turnaround in the near future.