Source: Cointelegraph Original: "{title}"

Due to the global uncertainty caused by ongoing import tariff negotiations, investor sentiment in both traditional and digital markets is limited, and cryptocurrencies may see a local bottom within the next two months.

U.S. President Donald Trump plans to announce reciprocal tariff measures on imported goods on April 2, aimed at reducing the estimated $1.2 trillion trade deficit in goods and boosting domestic manufacturing.

According to predictions from Aurelie Barthere, chief research analyst at the crypto intelligence platform Nansen, despite the global market suffering after the initial tariff announcement, there is a 70% probability that cryptocurrency valuations will hit bottom before June.

The analyst told Cointelegraph:

"Nansen's data estimates that the probability of cryptocurrency prices hitting bottom between now and June is 70%. Currently, Bitcoin (BTC) and Ethereum (ETH) are down 15% and 22% respectively from their highs this year. Based on this data, the upcoming tariff negotiations will be a key market indicator."

She added, "Once the most difficult part of the negotiations is over, we expect clearer bottoming opportunities for cryptocurrencies and risk assets."

Before the U.S. tariff announcement, both traditional and cryptocurrency markets still lack upward momentum.

BTC/USD Daily Chart. Source: Nansen

Nansen's research report on April 1 noted, "The price charts of major U.S. stock indices and Bitcoin have failed to significantly break through their 200-day moving averages, while shorter-term moving averages are declining."

The report added, "The fragile market psychology highlights the necessity for 'positive news,' especially regarding U.S. economic growth and tariffs."

Currently, investors are in a "wait-and-see mode," with the market lacking a clear direction, leading them to adopt a cautious stance on large positions.

However, the cryptocurrency fear and greed index has remained above "extreme fear" for the third consecutive day, indicating that although the market remains cautious, sentiment has slightly improved, according to Stella Zlatareva, an editor at the digital asset investment platform Nexo, who spoke to Cointelegraph.

"This reinforces the view that the market is in a wait-and-see mode," she added:

"After experiencing a directional adjustment in the first quarter, Bitcoin is currently consolidating in the $82,000 to $85,000 range. This asset has $82,000 as a key support level in this area, and if overall market sentiment stabilizes, there may be upward potential, targeting $86,500 to $90,000."

Other traders are waiting for Bitcoin to break through $84,500 as a signal for further upward momentum amid ongoing tariff uncertainty.

Related: Tether increased its holdings by 8,888 Bitcoins in the first quarter, with total holdings exceeding $8.4 billion.

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