- Bitcoin held steady near $79K as global tariff easing and trade optimism offset weekend crypto market volatility and Ethereum’s drop.
- Social media buzz on tariffs surged from late March, with record mentions and dominance levels highlighting shifting crypto narratives.
- Despite rising tariff chatter in April, Bitcoin’s price remained stable, suggesting traders may have priced in geopolitical risks early.
As per data from Santiment, Bitcoin held firm near $79,000 on April 7, showing resilience despite intensifying discussions around global tariff shifts. Ethereum, meanwhile, slid to $1,540. Over the weekend, the broader crypto market dipped sharply. However, signs of easing international trade tensions have injected optimism.
Taiwan’s decision to drop U.S. tariffs adds momentum to this shift. Several Asian nations have joined this trend. Additionally, the European Union expressed intent to implement mutual 0% tariffs. These developments may trigger an immediate bullish reaction in crypto and equities if implemented.
Social Metrics Highlight Tariff-Fueled Sentiment Spike
Social media data revealed a dramatic surge in tariff-related discussions beginning in late March. Three key metrics were tracked: Social Volume, Social Dominance, and BTC/USD price. From January 7 to mid-February, tariff chatter remained low. Volatility in both Social Volume and Dominance was minimal. However, in late February, the landscape shifted. Social Volume spiked, coinciding with a sharp decline in BTC/USD. This pointed to high market sensitivity toward tariff narratives.
Volume tapered in early March but rose again by month’s end. A second and more intense wave began in late March. On April 1, Social Volume reached 1,164 mentions. At the same time, Social Dominance hit 4.17%, its highest level within the timeframe. This synchronized rise suggests growing attention on tariffs across crypto. Notably, Dominance had remained under 2% before April, highlighting the sudden narrative shift.
Market Movement Shows Temporary Decoupling from Sentiment
From mid-January to mid-March, Bitcoin experienced a gradual decline. It made minor recovery attempts in late March. However, despite the early April rise in social chatter, Bitcoin moved sideways. This indicated a possible dropping of price action from narrative-driven sentiment. Traders may have already factored in tariff-related risks.
Moreover, no other macro event sustained such consistent attention during this period. The timeline aligned with active trade talks involving the U.S., Asia, and the EU. February’s initial spike in social metrics closely mirrored Bitcoin’s price movements. Yet in April, rising mentions had less immediate impact.
