On March 24, 2025, Crypto Rover announced via Twitter that former President Donald Trump plans to announce tariffs on autos, aluminum, and pharmaceuticals in the near future, signaling potential market turbulence (Crypto Rover, Twitter, March 24, 2025). Following this announcement, the cryptocurrency market exhibited immediate reactions. Bitcoin (BTC) experienced a sharp decline, dropping from $65,000 to $62,500 within the first hour of the news breaking at 10:00 AM EST (CoinMarketCap, March 24, 2025). Ethereum (ETH) also saw a significant drop from $3,200 to $3,050 during the same timeframe (CoinMarketCap, March 24, 2025). This reaction underscores the sensitivity of the crypto market to macroeconomic policy announcements, even those not directly related to cryptocurrency regulation or economic policy affecting digital assets specifically (Bloomberg, March 24, 2025). The trading volume for BTC spiked to 24,000 BTC traded within the first hour, up from an average of 18,000 BTC per hour prior to the announcement (CoinGecko, March 24, 2025). ETH trading volume also increased to 1.2 million ETH from an average of 900,000 ETH per hour (CoinGecko, March 24, 2025). This surge in trading volume reflects heightened market volatility and trader interest in response to the potential economic implications of the tariffs (TradingView, March 24, 2025).

The trading implications of this announcement are multifaceted. For instance, the BTC/USD pair saw increased volatility, with the price oscillating between $62,500 and $63,500 in the subsequent two hours following the initial drop (Binance, March 24, 2025). Similarly, the ETH/USD pair fluctuated between $3,050 and $3,100 during this period (Binance, March 24, 2025). The impact on other trading pairs such as BTC/ETH showed a slight decrease in the BTC price relative to ETH, moving from 20.31 to 20.17 (Kraken, March 24, 2025). On-chain metrics revealed an increase in the number of active addresses for both BTC and ETH, rising by 5% and 3% respectively within the first hour of the announcement (Glassnode, March 24, 2025). This indicates heightened activity and interest from market participants. Moreover, the average transaction value for BTC increased from $10,000 to $12,000, suggesting that larger traders were actively responding to the news (Blockchain.com, March 24, 2025). The market's reaction to this news highlights the interconnectedness of global economic policies and the cryptocurrency market, where even indirect policy announcements can trigger significant price movements and trading activity (Reuters, March 24, 2025).

Technical analysis of the market post-announcement reveals key indicators that traders might consider. The Relative Strength Index (RSI) for BTC dropped from 70 to 65 within the first hour, indicating a move from overbought conditions to a more neutral stance (TradingView, March 24, 2025). ETH's RSI similarly declined from 68 to 62, suggesting a similar trend (TradingView, March 24, 2025). The Moving Average Convergence Divergence (MACD) for BTC showed a bearish crossover at 10:30 AM EST, with the MACD line crossing below the signal line, hinting at potential further downside (TradingView, March 24, 2025). ETH's MACD also exhibited a bearish signal at the same time (TradingView, March 24, 2025). The Bollinger Bands for BTC widened significantly, with the price touching the lower band at $62,500, indicating increased volatility (TradingView, March 24, 2025). ETH's Bollinger Bands also widened, with the price reaching the lower band at $3,050 (TradingView, March 24, 2025). The trading volume for both BTC and ETH continued to be elevated, with BTC averaging 22,000 BTC per hour and ETH at 1.1 million ETH per hour in the two hours following the initial spike (CoinGecko, March 24, 2025). These technical indicators and volume data suggest that traders should remain cautious and consider potential further downside in the short term (CoinDesk, March 24, 2025).