oriceBitcoin nears $85K, Ethereum edges up, and a looming U.S. tariff shock has traders on edge

 

Crypto Price Update - The cryptocurrency market on April 2, 2025, presents a mixed landscape. Bitcoin continues to hover near key technical levels, while Ethereum shows resilience. Meanwhile, regulatory developments and looming U.S. tariff announcements have introduced uncertainty across markets, including crypto.

 

Market Snapshot – April 2, 2025

 

Bitcoin (BTC) traded at approximately $85,000, reflecting modest intraday fluctuations. Ethereum (ETH) showed slight gains, recovering to trade around $3,900 after bouncing off support near $3,700. Other leading assets like Solana (SOL), Cardano (ADA), and XRP displayed mixed performance, with Solana down 2%, XRP marginally up, and Cardano holding steady.

The global crypto market cap sits just above $2.8 trillion, a slight increase from the previous day, although overall sentiment remains cautious.

 

Bitcoin Approaches a Death Cross

 

Bitcoin is showing signs of entering a technically bearish phase. Market analysts have highlighted an impending death cross, where the 50-day moving average drops below the 200-day moving average. Historically, this pattern has suggested potential for further price declines.

Currently, the 50-day and 200-day moving averages are separated by approximately $2,000. Unless Bitcoin reverses with strong momentum, the death cross may confirm within days. The next support zone rests at $73,800, roughly 13% below current levels.

While some traders interpret the death cross as a sell signal, others note that it often precedes consolidation rather than deep corrections. Short-term volatility could increase, especially given the sensitive macroeconomic backdrop.

 

Geopolitical Pressures: U.S. Tariff Announcements on the Horizon

 

Market volatility has been amplified by geopolitical developments. President Donald Trump is scheduled to unveil a new round of tariffs on April 2, an event dubbed “Liberation Day.” The measures are expected to target 15 countries, including major trade partners such as China, Canada, Mexico, and several EU nations.

These tariffs form part of a broader retaliatory strategy, responding to prior restrictions imposed on U.S. exports. Equity markets have responded nervously to this development, with tech-heavy indices showing weakness.

Bitcoin, often viewed as a hedge against geopolitical risk, may benefit in the longer term if traditional markets react negatively. However, in the short term, the anticipation of major policy shifts has kept crypto markets in a holding pattern. Traders await confirmation before committing to high-volume trades.

 

Ethereum and Altcoins Hold Ground

 

Ethereum (ETH) gained 1.3% over the past 24 hours, trading near $3,900. Despite pressure on the broader market, Ethereum’s fundamentals continue to support moderate optimism. On-chain data indicates steady network activity and consistent user growth.

Other altcoins are experiencing varied performance. Solana (SOL) has slipped nearly 2%, retreating from its recent high of $210. XRP and ADA remain relatively flat, reflecting indecision among traders. Meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have shown increased volatility, rising 4% and 6% respectively, fueled by social media-driven speculation.

 

Regulatory Pressure Intensifies: Gemini Case and Broader Implications

 

Crypto regulation remains a central concern. On April 1, Gemini Trust, co-founded by Tyler and Cameron Winklevoss, entered talks with the U.S. Securities and Exchange Commission (SEC) to pause legal proceedings in a case involving its Gemini Earn program.

The SEC alleges that Gemini failed to properly register its interest-bearing crypto accounts aimed at retail investors. The parties have now requested a 60-day suspension of case deadlines, signaling possible resolution talks.

This development represents part of a wider regulatory tightening trend. Exchanges, DeFi platforms, and lending protocols face mounting scrutiny, particularly in the U.S. Regulatory clarity remains lacking, making it difficult for firms to innovate or expand with confidence.

Institutional investors remain cautious amid legal uncertainties, preferring platforms with clearer compliance practices. As a result, U.S.-based crypto businesses have seen reduced venture capital inflows compared to global competitors.

 

Market Sentiment and Historical Trends

 

Market sentiment on April 2 remains neutral to slightly bearish. The Crypto Fear & Greed Index shows a reading of 47, indicating a balance between caution and opportunism. Traders remain in a “wait-and-watch” mode ahead of key events.

Historically, April has been a positive month for Bitcoin. Since 2013, April has delivered gains in 8 out of the last 11 years. Analysts remain divided on whether that trend will continue in 2025, especially given the current global tensions.

Despite near-term volatility, long-term holders maintain their positions. Bitcoin’s hash rate remains robust, and network fundamentals appear stable. Ethereum continues to benefit from upgrades and consistent developer activity.

 

DeFi and NFT Sectors: Slow Rebound

 

The DeFi sector is showing early signs of a slow rebound. Total value locked (TVL) across major DeFi protocols increased by 2.8% week-over-week, reaching $103 billion. Uniswap, Aave, and Lido remain the dominant platforms in terms of user engagement and liquidity.

NFT trading volume remains subdued compared to the 2021–2022 cycle highs. However, blue-chip collections like Bored Ape Yacht Club and CryptoPunks have seen slight volume upticks in recent weeks, suggesting renewed interest from collectors.

GameFi and Web3 social platforms continue to explore monetization models and user retention strategies, although daily active users remain below all-time highs.

 

Outlook for the Rest of the Week

 

Multiple key events could influence crypto prices over the next few days:

April 2: U.S. tariffs announcement

April 3: Eurozone inflation data release

April 5: U.S. jobs report for March

April 6: Ethereum Shanghai upgrade community call

In the absence of clear bullish catalysts, the market may continue to consolidate. Traders will likely rely on macroeconomic indicators and policy statements for direction.

On April 2, 2025, the crypto market presents a complex picture. Bitcoin trades near a crucial technical juncture, with a potential death cross signaling caution. Ethereum and select altcoins maintain support, while broader market activity remains subdued amid geopolitical uncertainty and regulatory overhang.

The coming days will prove pivotal, especially with the impending tariff decisions and key macroeconomic data. A clear breakout in either direction could define the tone for the rest of April. Traders, institutions, and crypto platforms remain alert, prepared to adapt to rapid changes in sentiment and policy.