After a relief rally in March, Bitcoin has failed to break above its downtrend line, indicating that bearish pressure remains in place. The primary driver behind this weakness is the rising risk of recession. 

Yesterday, Trump announced a new round of tariffs, which will be added on top of the existing ones. While the new base rate is set at 10%, key U.S. trading partners will face significantly higher rates. Some of the additional tariffs include: 

• China: 34% 

• EU: 20% 

• Japan: 24% 

• Switzerland: 31% 

• India: 25% 

These steeper-than-expected tariffs are likely to intensify both inflationary and growth-related concerns. As a result, Bitcoin faced rejection at the trendline yesterday, and the downward move has continued into today. 

(BTCUSD) 

The downtrend line is currently at 87,000, and the 38.2% Fibonacci retracement level is at 87,600. With that in mind, the 87,000–87,600 zone is the key resistance to watch at the moment. However, the test isn’t over yet. If BTC can hold above 80,000, the battle to break the trendline will continue. 

That said, with higher-than-expected tariffs continuing to pressure the stock market, Bitcoin could break below 80,000. In that case, a move toward the 72,000 level may begin.