EU retaliatory tariffs threaten Bitcoin correction to K — Analysts

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

Published

4 months ago

March 12, 2025

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EU retaliatory tariffs threaten Bitcoin correction to K — Analysts

The European Union’s latest retaliatory tariffs have deepened macroeconomic uncertainty, prompting crypto analysts to forecast increased volatility for Bitcoin prices, which may drop below the critical $75,000 support level.

The EU will impose counter-tariffs on 26 billion euros ($28 billion) worth of US goods starting in April, the European Commission announced on March 12, responding to US President Donald Trump’s recent move to impose 25% tariffs on steel and aluminum imports.

This move is the latest retaliatory tariff announcement in response to US import tariffs, which may trigger renewed trade war concerns and market volatility in the near term.

EU retaliatory tariffs threaten Bitcoin correction to $75K — Analysts — *Source: European Commission*

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

This may see Bitcoin (BTC) revisit $75,000, he told Cointelegraph, adding that “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 added.

Other analysts still eye a temporary Bitcoin retracement below $72,000 as part of a “macro correction” during the current bull market cycle before Bitcoin’s next leg up.

Still, import tariffs are not the only factor influencing Bitcoin’s price, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph, adding:

“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 announced its retaliatory tariffs the same day Trump’s increased 25% tariffs on all steel and aluminum imports took effect. Europe’s current suspension of tariffs on US goods will end on April 1, and its new tariffs will take full effect by April 13.

Global trade tariff uncertainty may limit markets until April 2

Traditional and cryptocurrency markets may be limited by tariff-related concerns until April 2, according to Aurelie Barthere, principal research analyst at Nansen.”

“Tariff noise is likely to continue till after April 2, and the reciprocal tariff announcements, and then negotiations, and put a lid on risk appetite.”

“That said, we observed tentative stabilization in the major US equity indexes and BTC yesterday, at the low of their respective RSI, which we are monitoring,” she added.

Trump threatened to “substantially increase” duties on cars entering the US from Canada, set to take effect on April 2, unless Canada decides to drop some of its trade tariffs.

Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1

Politics

UK restores diplomatic ties with Syria

Published

1 hour ago

July 6, 2025

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The UK has re-established diplomatic ties with Syria, David Lammy has said, as he made the first visit to the country by a British minister for 14 years.

The foreign secretary visited Damascus and met with interim president Ahmed al Sharaa, also the leader of the rebel group Hayat Tahrir al-Sham (HTS), and foreign minister Asaad al Shaibani.

It marks the latest diplomatic move since Bashar al Assad’s regime was toppled by rebel groups led by HTS in December.

In a statement, Mr Lammy said a “stable Syria is in the UK’s interests” and added: “I’ve seen first-hand the remarkable progress Syrians have made in rebuilding their lives and their country.

“After over a decade of conflict, there is renewed hope for the Syrian people.

“The UK is re-establishing diplomatic relations because it is in our interests to support the new government to deliver their commitment to build a stable, more secure and prosperous future for all Syrians.”

The Foreign, Commonwealth and Development Office has also announced a £94.5m support package for urgent humanitarian aid and to support the country’s long-term recovery, after a number of British sanctions against the country were lifted in April.

While HTS is still classified as a proscribed terror group, Sir Keir Starmer said last year that it could be removed from the list.

The Syrian president’s office also said on Saturday that the president and Mr Lammy discussed co-operation, as well as the latest developments in the Middle East.

Since Assad fled Syria in December, a transitional government headed by Mr al Sharaa was announced in March and a number of western countries have restored ties.

In May, US President Donald Trump said the United States would lift long-standing sanctions on Syria and normalise relations during a speech at the US-Saudi investment conference.

He said he wanted to give the country “a chance at peace” and added: “There is a new government that will hopefully succeed.

“I say good luck, Syria. Show us something special.”

Politics

Secret Service seizes $400M in crypto, cold wallet among world’s largest

Published

3 hours ago

July 6, 2025

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Secret Service seizes 0M in crypto, cold wallet among world’s largest

Secret Service quietly amasses one of the world’s largest crypto cold wallets with $400 million seized, exposing scams through blockchain sleuthing and VPN missteps.