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

BlockBeats News, April 2nd, according to The Block's report, Analyst K33 stated that tariffs remain a key factor affecting the market, and this week's U.S. employment data later in the week may bring more volatility. (Goldman Sachs currently expects Trump to 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 stated that the rise in tariff expectations is reflected in Chicago Mercantile Exchange traders' defensiveness, as futures premiums have fallen to 5%, while open interest has plunged to an 11-month low of 133,790 bitcoins. The offshore perpetual futures funding rate also reflects 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 scenario is that this will lead to increased market volatility throughout April, keeping Bitcoin range-bound between $75,000 and $88,000. They do not expect clarity and resolution in the market post-April 2nd, as the entire month of April may see various responses, negotiations, sudden reversals, and unforeseen events.