Bitcoin relief rally fizzles as White House confirms 104% China tariffs — Will BTC fall to new lows?

Bitcoin heads toward new lows after the White House confirms 104% tariffs against China, but traders say BTC still trades in a “fair gap zone.”

Bitcoin’s surprise rebound to $81,180 — which was influenced by fake news regarding a pause on US tariffs — has all but evaporated following White House confirmation that 104% tariffs on China will take effect today at 12:01 am on April 9.

S&P 500 drops intra-day gains follow White House tariff confirmation. Source: X / Kobeissi Letter

After dropping below the $75,000 level for the first time since Nov. 6, 2024, BTC retested a key demand zone that traders hope will provide a safe haven for the bulls.

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