Bitcoin drops below $82K as U.S. prepares 25% import tariffs
March 31, 2025
On March 31, Bitcoin briefly fell below the $82,000 mark, hitting a low of around $81,329 on Binance. The price later recovered slightly, stabilizing near $81,500. Over the past 24 hours, the cryptocurrency has lost approximately 1% in value.
Alongside Bitcoin, other digital assets experienced even sharper declines. The total market capitalization dropped by 3.2%, falling to $2.75 trillion.
Stock market weakness adds pressure
U.S. equity futures also turned red, reflecting broader investor caution. Futures on the S&P 500 declined by 0.7%, while Nasdaq 100 futures dropped by 0.8%. The shift in sentiment comes ahead of April 2 — referred to by President Donald Trump as «Liberation Day.»
Starting on that date, the U.S. is expected to impose a 25% tariff on imports of vehicles, pharmaceuticals, and other goods from a broad list of countries. A week earlier, reports of a softer stance on trade supported Bitcoin’s rise above $87,000. However, Trump’s renewed hawkish tone has weighed on appetite for riskier assets.
As a result, investors are pivoting to safe-haven assets. Gold reached a new all-time high of $3,122 per ounce on March 31.
Trading volumes and network activity decline
Daily spot trading volume for Bitcoin dropped to $36 billion — a sharp decline of nearly 70% from the $126 billion peak seen in November 2024. Total BTC reserves on centralized exchanges also plunged from $24.4 billion in early March to $8.6 billion.
The total daily on-chain transfer volume has also halved, signaling reduced speculative activity across the Bitcoin network.
Technical analysts remain cautiously optimistic
Despite the current pullback, some market analysts still see potential for a rebound. From a technical perspective, bullish patterns remain intact if external macroeconomic factors stabilize.
Economist and author Timothy Peterson, known for applying Metcalfe’s Law to Bitcoin valuation, stated that the recent dip is temporary and does not break the broader bullish trend. He remains confident in Bitcoin’s long-term fundamentals.