Bitcoin falls as tariff war escalates

Canadian Prime Minister: "Existing Relationship with the US is Over"
Cryptocurrency Market Immediately Reacts to Tariff War Expansion
BTC Drops 1.4%... Altcoins Fall Over 5%
Hayes: "BTC Will Rebound with New Liquidity in April"

As the tariff war initiated by President Trump appears to be expanding, the cryptocurrency market, including Bitcoin (BTC), declined on the 28th.

Mark Carney, the Canadian Prime Minister, stated in a press conference on the 28th, "The existing relationship with the US is now over" and "The US is no longer a trustworthy partner, and things cannot return to the way they were."

Canada is one of the major trading partners where President Trump has announced a 25% tariff. As the tariff war, which had momentarily calmed down, reignites, the cryptocurrency market quickly responded.

Bitcoin dropped by approximately 1.4% on the 28th, and most altcoins fell by over 5%.

◇Bitcoin = As of 4 PM on the 28th, the Bitcoin price on Upbit is 126.88 million won. Bitcoin's dominance is 62.09%.

According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 56.44% and 43.56%, respectively.

Despite Bitcoin's decline, experts predict a rebound in April.

BitMEX CEO Arthur Hayes said in a podcast interview on the 28th, "A new liquidity cycle will arrive in April, and the cryptocurrency market will show a strong upward trend."

Hayes predicted that President Trump's tariff policy would not affect the Federal Reserve's interest rate decision, and dollars would continue to be issued, injecting liquidity into the market.

◇Rising Coins = As of 4 PM on the 28th on Upbit, Orca (ORCA) recorded the largest increase, rising by about 8%.

Orca is a decentralized exchange (DEX) project based on Solana, recently providing various services through the Eclipse chain.

Based on CLMM, it enhances liquidity (token swap, pool) functions, making trading simple and efficient for users from beginners to experts.

Through the governance token Orca, users can participate in decision-making about the project's direction.

◇Fear and Greed Index = The digital asset Fear and Greed Index provided by Alternative is maintaining the 'Fear' stage at 44 points. The fear stage (20-39) is a period of high cryptocurrency price volatility and trading volume, indicating a potential price decline. Caution is advised for buying.

The Relative Strength Index (RSI) provided by Sigbit is recorded at 42.3, in a 'neutral' state. RSI measures the relative strength between upward and downward pressure on a specific asset's price and indicates the overbought and oversold levels of an asset.

Reporter Seung-won Kwon ksw@blockstreet.co.kr