K33 Analyst: Expects Increased Market Volatility in April, Bitcoin to Consolidate in the Range of $75,000 to $88,000

On April 2nd, according to The Block's report, Analyst K33 said that tariffs continue to be a key factor influencing the market. The U.S. employment data to be released later this week may bring more volatility. (Goldman Sachs currently anticipates that Trump will announce an average 15% reciprocal tariff on all U.S. trading partners.) K33 Research Director Vetle Lunde and Senior Analyst David Zimmerman pointed out in a report on Tuesday. They noted that the increase in tariff expectations is reflected in the defensiveness of Chicago Mercantile Exchange traders. Futures premiums have dropped to 5%, while open interest has plunged to an 11-month low of 133,790 bitcoins. The offshore perpetual futures funding rate also indicates market caution, with the average rate over the past 69 days not reaching or exceeding neutral levels. The analysts stated that they expect the tariff announcement to have a significant impact on the market, and the correlation between stocks and Bitcoin is expected to remain high. They believe the most likely situation is that this will lead to increased market volatility throughout April, keeping Bitcoin within the range of $75,000 to $88,000. They do not expect clarity and a resolution in the market after April 2nd, as the entire month of April may witness various responses, negotiations, sudden reversals, and unexpected events.