Bitcoin Price Crashes as Trump’s China Tariff Kicks In: Will BTC Hold Above $74K?

The Bitcoin price took a sharp hit, crashing below $75,000 after Trump imposed a 104% tariff on China. This move spooked global markets, leading to one of the biggest single-day drops in the S&P 500 since the 2008 crash. Risk assets like crypto bled red with over $390 million in liquidations and massive Bitcoin ETF outflows. BlackRock’s ETF alone dumped 3,296 BTC. Analysts now fear a broader recession, with pressure mounting on the Federal Reserve to respond. As global uncertainty deepens, this could be a pivotal week for Bitcoin prediction and market recovery hopes.

Bitcoin ETF Outflows and Trump’s Tariff Shock

The tariff shock from former President Donald Trump triggered a market-wide selloff, hitting both equities and crypto hard. The Bitcoin price plunged over 11% for the week. Bitcoin ETF outflows surged, led by BlackRock’s IBIT dumping 3,296 BTC—its third-largest outflow since launch. Total U.S. ETF outflows crossed $326 million, signaling deep institutional panic.

🚨 Blackrock Sells 3300 Bitcoin

Third largest outflow since IBIT launched pic.twitter.com/keqaQhrjkq

— Thomas Fahrer (@thomas_fahrer) April 9, 2025

Economists like Peter Schiff warned of bigger trouble. “If Trump’s secret agenda is to crash the stock market to bring down long-term interest rates, the plan already failed,” he said, highlighting rising bond yields. BitMEX’s Arthur Hayes echoed this, stating: “The Fed is on the clock, shit is breaking down.”

The pain isn’t limited to Bitcoin alone. Altcoins saw even deeper cuts, with Ethereum losing over 25% in the past week. The market feels eerily like December 2018, as Real Vision’s Raoul Pal noted, suggesting a potential pivot by the Fed and trade resolution may offer relief.

Bitcoin Price Prediction for April 9

The trading day of April 8 began on a bullish note. At 1:50 UTC, the RSI entered overbought territory, pushing the Bitcoin price to $80,879.82, where it faced strong resistance. Shortly after, a Death Cross appeared on the MACD line at 2:30 UTC, triggering a sharp decline. Despite a brief recovery, the RSI was again overbought at 11:55 UTC. This preceded another bearish wave, confirmed by a second Death Cross on the MACD at 13:30 UTC. By 17:25 UTC, Bitcoin became oversold and found key support at $76,565.87.

Chart 1, analyzed by ShwetaCW, published on TradingView, April 9, 2025

Price remained range-bound until early April 9. At 1:05 UTC, the RSI signaled another oversold condition, and Bitcoin broke below support, hitting a low of $74,623.06. However, this breakdown was short-lived. A Golden Cross at 4:10 UTC (9:40 AM IST) led to a swift pullback, with the price re-entering the previous range. According to the Bitcoin prediction, if bullish momentum builds, BTC may retest the $80,879.82 resistance and possibly break above $82K. If sellers return, the price could fall below $76,565.87 and challenge the $74K level again. 

Bitcoin Future Outlook

The Bitcoin price remains fragile amid global market stress and continued Bitcoin ETF outflows. If the $76K support holds, a bounce toward $20K is possible. However, sustained pressure may push BTC below $74K. The next move hinges on Fed policy signals and geopolitical headlines. For now, the Bitcoin prediction leans neutral, with heightened volatility and macro-driven uncertainty steering the trend.