Nansen research analyst Nicolai Sondergaard warned that ongoing global customs tariff concerns will keep cryptocurrency markets under pressure at least until April 2.
Despite positive developments in the crypto space, macroeconomic factors continue to have a significant impact on investor sentiment.
Looking beyond this date, it noted that the situation remains uncertain and largely depends on whether global economies can reach an agreement on tariffs.
“I am looking forward to seeing what will happen with customs duties starting from April 2. Maybe we will see that some of them are canceled, but this depends on whether all countries can agree or not. Right now, the biggest driving force is this,” he said.
Sondergaard also noted that risk assets, including cryptocurrencies, could experience a period of stagnation until concerns regarding tariffs are resolved. He predicted that this resolution could occur between April and July, potentially serving as a positive catalyst for market movement.
In addition to trade policies, Sondergaard pointed to high interest rates as another important factor that reduces investors’ risk appetite. Until the Federal Reserve signals a change in its monetary policy, cryptocurrencies and other speculative assets may continue to face headwinds.
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