Analyst: The market is waiting for Trump's tariffs to take effect, a rebound in Q2 is entirely possible

In a message from ChainCatcher, according to The Block, Presto research analyst Min Jung said: "At present, the market is in a wait-and-see mode because the details of tariffs have not yet been disclosed. Investor sentiment is mixed; some investors believe that the impact may not be as severe as initially feared and see recent declines as potential 'buy-the-dip' opportunities. However, many traders still choose to hold off until the situation becomes clearer. The next move in the market will largely depend on the tone and content of actual announcements."

Brickken market analyst Enmanuel Cardozo stated: "Everyone expected Trump's support for cryptocurrencies to take effect immediately, but reality is that policy implementation takes time. Global economic uncertainty has fueled risk aversion around the world and by end of 2024, markets would have already digested expectations of Trump's victory. However, an economic recovery in Q2 is 'definitely possible'. The Federal Reserve generally expects interest rates to fall within Q2 while Trump's team could deliver more concrete results regarding cryptocurrency supportive policies. With increased institutional capital inflow momentum might strengthen; if Bitcoin breaks through resistance at $88,668 it could retest $100,000 but if macro factors stagnate there isn't much chance for decline."