Bitcoin Bottom In Sight As Trump Expected To Soften Stance On Reciprocal Tariffs: Report
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. According to a recent report by 10X Research, Bitcoin (BTC) may be attempting to form a local bottom, as US President Donald Trump is expected to soften his stance on reciprocal tariffs, which are set to go into effect on April 2. Up Only For Bitcoin? Bitcoin’s plunge to $77,000 on March 10 may have marked the bottom for the top cryptocurrency in the current market cycle. Since then, the digital asset has appreciated by more than 10%, trading in the mid $80,000 range at the time of writing. Related Reading The 10X Research report suggests that Trump’s recent pivot toward “flexibility” on the upcoming April 2 reciprocal trade tariffs may have alleviated some concerns about further deterioration in the global macroeconomic outlook. Additionally, the report emphasizes the US Federal Reserve’s (Fed) comments following this month’s Federal Open Market Committee (FOMC) meeting, where the central bank indicated that it would slow the pace of balance sheet drawdown and end the current cycle of quantitative tightening. The Fed’s remarks followed the release of the February 2025 Consumer Price Index (CPI) inflation data, which came in line with expectations, easing concerns about inflation. The report’s claim that BTC has formed a bottom aligns with crypto entrepreneur Arthur Hayes’ recent statement, where he noted that BTC may have “probably” bottomed at $77,000. The following chart illustrates a bullish reversal in BTC’s 21-day moving average, which currently sits at $85,200. The report points out that these weekly reversal signs are back at levels typically seen when past bull markets have resumed. Source: 10X Research For example, in September 2023, BTC benefited from bullish momentum as the Bitcoin exchange-traded funds (ETF) narrative gained traction. Similarly, BTC embarked on a historic rally in August 2024 as the US presidential election drew closer. Additionally, a recent post on X by seasoned crypto analyst Ali Martinez highlights that Bitcoin transaction fees have nearly tripled over the past week, indicating an uptick in network activity as market sentiment improves. Source: ali_charts on X BTC Still Not Completely Bullish While Trump’s softening stance on tariffs is good news for risk-on assets like cryptocurrencies, BTC still needs to break through and sustain certain price levels to regain strong bullish momentum. Related Reading Recent analysis by Martinez identified $94,000 as a critical price level for BTC to overcome. If the digital asset decisively breaks through and sustains this level, it could be poised to climb as high as $112,000. That said, concerns remain about BTC’s relatively weak price performance compared to other safe-haven assets like gold. At press time, BTC is trading at $87,650, up 3.6% in the past 24 hours. BTC trades at $87,650 on the daily chart | Source: BTCUSDT on TradingView.com Featured image from Unsplash, charts from 10X Research, X, and TradingView.com
Bitcoin Needs Weekly Close Above This Level To Confirm Market Bottom, Analyst Says
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. In an X post published yesterday, crypto analyst Matthew Hyland highlighted that according to the weekly timeframe chart, Bitcoin (BTC) is likely to test the support level between $69,000 to $74,000 in the coming months. Is The Bitcoin Bottom In? Hyland noted that BTC’s weekly resistance level currently hovers around the $90,500 level. The analyst emphasized that if BTC has a weekly close above $89,000, then it may indicate that the market bottom is in. He added: If we do get a weekly close above this area ($89,000 to $91,000), I think the low is in for Bitcoin, and we are not going down to this area. To recall, BTC last traded above $89,000 earlier this month on March 9. From there, the cryptocurrency experienced a breakdown to lower price levels, primarily due to rising macroeconomic uncertainties due to US President Donald Trump’s trade tariffs on numerous countries. Related Reading According to data from cryptocurrency exchange Binance, after failing to defend the $89,000 level, BTC ended up falling as low as $76,606 on March 10. Since then, the digital asset has made slight recovery, buoyed by lower than anticipated US CPI inflation data and is currently trading in the low $80,000 level. BTC Faces Strong Resistance At $86,100 Similarly, in a recent Quicktake post on CryptoQuant, analyst Yonsei_dent highlighted the significance of short-term holder (STH) Realized Price in determining the digital asset’s future price trajectory. Related Reading For the uninitiated, Bitcoin’s Realized Price refers to the average acquisition cost of investors while STH refers to holders who have held BTC for less than six months. These investors are typically more sensitive to market movements. The analyst remarked that the weighted average Realized Price for STHs who have held BTC for one week to six months lies around $91,800, suggesting that these investors are currently in a loss position. The three months to six months STH cohort has a Realized Price of $86,100, denoting a strong resistance level for the digital asset in the short-term. Notably, this group of holders has the highest share of Realized Cap among STHs, hinting that selling pressure could magnify around this price level. With regard to major support levels, long-term holders (LTH) with a holding time of six months to twelve months have a Realized Price of $63,700. The post adds: The highest volume profile over the past year is concentrated around $64,000. This reinforces the idea that this area could serve as a strong support level. If BTC fails to clear some of its immediate resistance levels, there is a high possibility that it may follow Arthur Hayes prediction of finding a bottom around $70,000. That said, several indicators suggest that BTC may be undervalued at its current market price. At press time, BTC trades at $81,745, up 0.7% in the past 24 hours. BTC trades at $81,745 on the daily chart | Source: BTCUSDT on TradingView.com Featured image from Unsplash, chart from TradingView.com
Bitcoin Fills CME Gap Between $78,000 and $80,000 – Is A Reversal Around The Corner?
Este artículo también está disponible en español. Earlier today, Bitcoin (BTC) dropped below $80,000 for the first time in over three months. According to data from Binance, BTC hit a low of $78,258, filling the Chicago Mercantile Exchange (CME) gap between $78,000 and $80,000. Bitcoin Fills CME Gap, Is It Time For Rebound? With today’s dip, BTC has now filled every CME gap since March 2024. At the time of writing, the leading cryptocurrency is trading in the low $80,000 range. Related Reading For the uninitiated, the CME gap refers to the price difference that occurs on the CME Bitcoin futures chart between Friday’s closing price and Monday’s opening price, as CME does not trade on weekends. These gaps are often filled later as Bitcoin’s price naturally retraces to these levels, acting as key support or resistance zones. A new CME gap has now emerged due to the ongoing market sell-off, triggered by US President Donald Trump’s confirmation that trade tariffs on Canada, China, and Mexico will take effect on March 4. According to crypto analyst Rekt Capital, the new CME gap lies between $92,800 and $94,000. If past data is anything to go by, this new CME gap may work as a price magnet, pulling BTC upward and initiating a bullish trend reversal. Source: Rekt Capital on X For example, back in January 2021, BTC filled a CME gap between $29,410 and $33,050. After filling the gap, BTC continued to dip further, before surging to as high as $40,000. That said, macroeconomic and geopolitical factors remain significant. The US Federal Reserve (Fed) and Trump continue to clash over interest rate policies. While the Fed has maintained that it is in no rush to cut rates, Trump has repeatedly called for immediate reductions. However, positive inflation data could pressure the Fed to accelerate rate cuts. According to an X post by The Kobeissi Letter, January’s PCE inflation – the Fed’s preferred measure – aligned with its projection of 2.5%. Similarly, core inflation – which measures the change in consumer prices excluding volatile items like food and energy – was in-line with expectations of 2.6% as well. However, data from CME FedWatch suggests that the Fed is likely to keep interest rates unchanged at the March 19 FOMC meeting. Is The BTC Bottom In? Although BTC has fallen nearly 20% over the past month, some analysts believe further downside may still be ahead. A recent forecast from Standard Chartered suggests BTC could decline another 10% before finding support. Related Reading However, there are also signs that BTC may be forming a local bottom. Crypto analyst Ali Martinez noted that sell-side pressure is easing, which could indicate that BTC is stabilizing. Additionally, the Cryptoasset Sentiment Index recently flashed a strong contrarian buy signal, further hinting at a potential price floor for BTC. At press time, BTC trades at $83,508, down 2.5% in the past 24 hours. BTC trades at $83,508 on the daily chart | Source: BTCUSDT on TradingView.com Featured image from Unsplash, Charts from X and TradingView.com
Bitcoin Forms Rounding Bottom – Expert Sees Push To $100K Next Week
Este artículo también está disponible en español. Bitcoin has been trading sideways in a tight consolidation range, staying below key supply levels while holding strong above crucial demand zones. This phase of indecision has divided market sentiment, with many leaning toward a bullish trend that could result in an aggressive move in the coming days. While uncertainty lingers, analysts are optimistic that Bitcoin is preparing for its next significant price action. Related Reading Renowned analyst Jelle shared a technical analysis on X, revealing that Bitcoin is still building a 4-hour rounding bottom, a bullish pattern that often precedes a breakout. Jelle highlighted that a new higher high was set on Friday, signaling potential momentum in favor of the bulls. This formation suggests that Bitcoin could be gearing up for a move toward reclaiming key levels, including the much-anticipated $100K mark. Despite the recent sideways price action, Bitcoin’s resilience above crucial demand zones reflects underlying strength. Many traders and investors are keeping a close watch, as this consolidation could soon come to an end. Whether BTC breaks above its supply zone or retraces to retest lower levels, the next move is expected to set the tone for short-term market direction. All eyes remain on Bitcoin as the market awaits confirmation. Bitcoin Prepares For A Massive Move Bitcoin’s price remains driven by speculation and uncertainty as short-term price action continues to be unpredictable. The price has struggled to reclaim the $100K mark, leaving analysts divided over its next move. Some are calling for a cycle top at $109K, while others believe that Bitcoin is setting the stage for a massive rally once it consolidates and establishes strong demand at current levels. Jelle shared a technical analysis on X, highlighting that Bitcoin is still forming a rounding bottom pattern above the $94K level—a bullish structure that signals accumulation and potential upward momentum. He pointed out that a new higher high was set on Friday, strengthening the case for a possible breakout. According to Jelle, if Bitcoin can hold for another higher low over the weekend, bulls could push the price toward the critical $100K mark next week. Bitcoin forming a rounding bottom | Source: Jelle on X Despite the ongoing uncertainty, the rounding bottom pattern offers a glimmer of optimism for the market. Bitcoin’s ability to stay above the $94K level reflects its resilience, even amid volatility. Traders and investors are closely monitoring this consolidation phase, as it could determine the next significant trend for BTC. Related Reading If the price successfully reclaims the $100K mark, a rally toward the $109K cycle top becomes increasingly likely. Conversely, failing to hold current levels could lead to a deeper correction. The coming days will be crucial for Bitcoin’s short-term direction, with both bulls and bears battling for control. BTC Price Struggles With Short-Term Direction Bitcoin is trading at $97,700 after briefly tagging the 4-hour 200 EMA near $98,800, sitting less than 3% below the crucial $100K level. Bulls are striving to reclaim the $98K level and push the price above the psychological $100K mark, a critical resistance zone that has kept BTC in a consolidation phase. Breaking above $100K would signal renewed momentum and could set the stage for a strong uptrend. BTC testing liquidity between $94K and $98K | Source: BTCUSDT chart on TradingView The $98K and $100K levels are key short-term hurdles for bulls, as reclaiming these zones would restore confidence and likely attract more buyers. A successful breakout above the $100K mark could ignite a rally, taking Bitcoin into higher territory and possibly testing all-time highs. Related Reading On the flip side, downside risks remain significant. Losing the $94K support level could trigger a correction into lower demand zones around $89K, where buyers might step in to prevent further declines. Such a move would signal continued market indecision and could lead to extended consolidation or even bearish pressure. Featured image from Dall-E, chart from TradingView