Yrs absolutely correct i also think Tariff is only causes for down market. I think if Tariff Don't withdrawn then down market will be continue. Now we saw little up market but i think it is for only few time. Within short time bitcoin price will down. And it will come near about $80k- $60k.
Tariff drama caused uncertainty to the market that forced those weak hands out there to sell their holdings causing the prices to go down. Aside from that, I'm also thinking of another reason why the market went down as well. Those who bought Bitcoin during the bear market or at least those who saw that they're still profitable despite the downwards movement of the market might've sold their holdings as well hence, taking some profits.
I looked at the price of Bitcoin during the 2021 bull run, and the price range between the peak of it's first major upwards movement to the second one is around 6.4%. Now if we will plot it and look at the first major peak price of Bitcoin which is around $109,000, the peak of the 2nd major upwards movement for Bitcoin is around the $116,000, so I'm assuming that it would be the peak of it. Of course, I might be wrong like I'm always does, but if history repeats itself, that might be the case.