Bitcoin's recent gains were erased as it approached $80,000 while the S&P 500 experienced its largest decline since the COVID-19 pandemic. On April 3, BTC/USD fell below $82,000 for the first time this month after earlier reaching nearly $88,580 due to US reciprocal trade tariffs. US stocks saw a decrease of over 4% amidst pressure from stronger-than-expected unemployment data, which may allow the Federal Reserve to maintain tighter financial policies. Furthermore, Bitcoin exhibited a bearish 'death cross,' where midterm moving averages intersect, indicating a potential prolonged decline lasting 3-6 months. Traders expect continued short positions in the crypto market, implying limited upward momentum in response to recent tariffs. Onchain analytics also suggested declining trading volumes typical of BTC price tops, heightening speculative sell-off concerns. Investors have been advised to stay cautious amid fluctuating economic indicators.

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