Cryptocurrency markets are experiencing fluctuations as traders brace for President Donald Trump’s “Liberation Day” announcement, which is expected to introduce reciprocal tariffs targeting 15 countries. The U.S. Treasury Secretary Scott Bessent confirmed that the announcement will take place at 4 PM Washington time in the White House Rose Garden.
Despite the looming uncertainty, Bitcoin (BTC) remains strong. At press time, Bitcoin has gained more than 2% and is trading at $86,750. BTC jumped to a high of $87,300 before hitting a reverse.
The leading cryptocurrency is currently breaking out of a bullish flag pattern, with the Ichimoku cloud above appearing thin, suggesting that BTC could maintain momentum and push higher.
However, short-term volatility is anticipated due to the tariff news. If Bitcoin faces rejection at the $85,400 resistance level and starts retracing, it could potentially head toward the next support around $80,000. If the market reacts negatively to the tariff announcement, BTC could test the $77,000 level, a price point it touched in late February and mid-March.
