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Bitcoin Nears $85K Before Tariffs Kick-In; DOGE, XRP, ADA Lead Crypto Majors
A rocky quarter has ended in an 11% loss for bitcoin and the biggest for the S&P 500 since Q2 2022. Here’s what traders say ahead of the April 2 tariffs kicking in.
Updated Apr 1, 2025, 2:48 p.m. Published Apr 1, 2025, 10:28 a.m.
What to know:
- Bitcoin remains stable above $81,000 as markets anticipate the impact of upcoming U.S. tariffs and reciprocal deals from Canada to EU members.
- Despite a broader risk-off mood in markets, Dogecoin (DOGE) and Cardano (ADA) saw over 2.5% gains, while Bitcoin ended the quarter with an 11% loss.
- Long-term bitcoin holders and newer large investors are showing resilience, maintaining their positions and providing stability to bitcoin's price.
Bitcoin was inching towards 85,000 during European trading hours on Tuesday as traders largely await the impact of U.S. tariffs slated for Wednesday.
and rose over 7% to lead muted gains among majors, with ether , XRP, Solana’s SOL and BNB Chain’s BNB were up nearly 5%.
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Overall market capitalization decreased 3%, CoinGecko data shows, with the broad-based CoinDesk 20 bumped 3% in the past 24 hours.
The movements come amid a broader risk-off mood gripping markets, with U.S. equities stumbling — the S&P 500 logged a 3% drop last week, its worst since September 2023, and a rush to safe-haven asset gold, which surged to fresh highs early Tuesday.
The looming tariffs, paired with a flurry of U.S. economic and labor reports covering the past month have cast a shadow over crypto sentiment. Augustine Fan, head of insights at SignalPlus, pointed to a lack of fresh catalysts — such as no big ETF inflows — and a market stuck in low-conviction mode to close out a rocky quarter, one that ended in an 11% loss for bitcoin and the biggest for the S&P 500 since Q2 2022.
https://x.com/Barchart/status/1906821431352029565
On the futures front, speculative positions on bitcoin via the CME are at their most bearish in years, a sharp pivot from January’s bullish fever, Fan said.
“Keep in mind that positioning data is merely a statement on the market condition, and not necessarily a signal to a tradeable setup,” Fan said. “The catalysts for a sustained rally remain fleeting at the moment, though we would expect any bullish turn to be sharp given the extended short positioning at the moment.”
But there are signs of resilience among long-term holders. Glassnode data shows holders with 3-6 month positions are sitting on growing profits and trading at their lowest levels since June 2021 — a sign of conviction over panic selling.
Newer whales, or large investors who’ve taken positions in recent months, are also holding firm rather than cashing out, lending stability to bitcoin’s price floor, per Glassnode.
https://x.com/glassnode/status/1906713577471234255
Meanwhile, Jupiter Zheng, a partner at HashKey Capital’s Liquid Fund and Research, said they consider tariff suspense and economic data dump as a short-term headwind.
“The dip’s all about risk-off sentiment,” Zheng said in a Telegram message to CoinDesk. “We're still optimistic in the long term, as more institutions integrate crypto while regulators across the world initiate new policies to enhance adoption.”
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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