The cryptocurrency market is under pressure due to the uncertainty surrounding new customs tariffs imposed and planned by the United States. According to researchers at the cryptocurrency analysis platform Nansen, there is about a 70% chance that the market could hit a low by June. President Donald Trump is expected to announce reciprocal import duties aimed at reducing the trade deficit by $1.2 trillion and encouraging domestic production, which adds to the uncertainty in the cryptocurrency market as well as global markets.
Cryptocurrency Investors Wait It Out
Before the announcement of tariffs by Trump, uncertainty prevails in both traditional and cryptocurrency markets. Cryptocurrency investors are in a “wait and see” mode rather than taking large positions. Stella Zlatareva, an editor at the cryptocurrency investment platform Nexo, noted that the Crypto Fear and Greed Index remaining above “extreme fear” for the last three trading days indicates a slight recovery in the market. According to Zlatareva, Bitcoin (BTC) 
$66,303 is currently consolidating between $82,000 and $85,000 as it attempts to find direction.
Zlatareva stated that if the market psychology improves, Bitcoin could rise to $86,500 and $90,000. However, many investors are waiting for the cryptocurrency to break above $84,500 to strengthen its upward movement.
Tariffs Critical for Cryptocurrency Direction
Aurelie Barthere, a senior researcher at the Nansen platform, estimates a 70% chance that cryptocurrency prices will hit a low by June. Bitcoin and Ethereum (ETH) 
$1,934 are currently trading about 15% and 22% lower than their peaks for the year, respectively. Barthere believes that after the toughest negotiations regarding tariffs, a clearer recovery process for cryptocurrencies and other risky assets may begin.
Currently, both the cryptocurrency market and US stock indices are struggling to rise above the 200-day moving averages in their price charts. According to reports from Nansen, the sensitive psychology of the markets increases the need for positive news about the US economy and customs tariffs.
