Bitcoin Flashes ‘Death Cross’ Amid Tariff-Induced Market Turmoil – Is Further Decline Inevitable?
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. The global equity and cryptocurrency markets experienced significant downturns earlier today, as US President Donald Trump’s country-specific reciprocal tariffs are set to take effect on April 9. The leading cryptocurrency, Bitcoin (BTC), has declined by more than 7% in the past 24 hours, and analysts predict further near-term challenges for the digital asset. US Tariffs Lead To Crypto Market Rout Notably, Trump’s baseline 10% tariffs on all countries went into effect on April 5, while the higher, country-specific reciprocal tariffs are scheduled to commence on April 9. These developments have raised fears of a global recession and widespread job losses. Related Reading The digital assets market has felt the impact of these tariffs, with BTC slipping over 7% in the past 24 hours – from approximately $82,300 on April 6, to a low of around $74,500 earlier today. Altcoins such as Ethereum (ETH), Solana (SOL), and XRP have experienced even greater declines, tumbling by 17.2%, 16%, and 15.8% respectively over the past 24 hours. Similarly, the total crypto market capitalization has shed almost $130 billion during the same period. Commenting on BTC’s price action amid the market turmoil, seasoned crypto analyst Ali Martinez highlighted that there may be more challenges ahead for the leading digital asset, as it has flashed the infamous death cross on the daily chart, indicating the potential for further price pullbacks. Source: ali_charts on X For the uninitiated, a death cross is a bearish technical signal that appears when the 50-day moving average (MA) drops below the 200-day MA. It often suggests a potential downtrend or increased selling pressure in the market. Similarly, veteran trader Peter Brandt shared the following chart, showing BTC trading in a symmetrical triangle pattern, with a wedge retest located at $81,024. The trader hinted that BTC may follow a drop to the 50% retracement level of $54,000. Source: Peter Brandt on X To elaborate, a symmetrical triangle pattern in trading is a chart formation where the price consolidates with converging trend lines connecting a series of lower highs and higher lows, indicating a period of indecision before a potential breakout in either direction. Similarly, a wedge retest refers to the price action where, after breaking out from a wedge pattern – a formation with converging trend lines – the price returns to test the breakout level before continuing in the breakout direction. An Opportunity To Stack Bitcoin? While heightened fears surrounding further price declines in BTC have unsettled investors and traders alike, some risk-seeking investors view this as an opportunity to accumulate more BTC at lower prices. Related Reading For instance, CryptoQuant analyst BorisVest, in a recent analysis, emphasized that if BTC falls between $65,000 to $71,000, it could offer a favorable buying opportunity for investors with a decent risk-reward ratio. At press time, BTC trades at $76,678, down 7.5% in the past 24 hours. BTC trades at $76,678 on the daily chart | Source: BTCUSDT on TradingView.com Featured image created with Unsplash, charts from X and TradingView.com
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 At Risk? Analyst Says Breaking This Price Level Could Spark Significant Volatility
Este artículo también está disponible en español. Bitcoin (BTC) has faced heightened volatility in recent weeks, initially driven by Donald Trump’s proposed trade tariffs and later exacerbated by the latest Consumer Price Index (CPI) data. The inflation report sent BTC plummeting to as low as $94,000 before it managed to recover some losses. However, according to crypto analyst Ali Martinez, Bitcoin must defend a critical price level to avoid a significant correction. Analyst Identifies Critical Bitcoin Price Level In an X post shared earlier today, Martinez brought attention to the Pi Cycle Top Indicator. For the uninitiated, the Pi Cycle Top Indicator is a Bitcoin market tool that aims to identify market cycle peaks. Related Reading The indicator tracks the 111-day moving average (MA) and a multiple – typically 2x – of the 350-day moving average. When the 111-day MA crosses above the 2x 350-day MA, it historically signals a market top. According to Martinez, Bitcoin tends to experience steep price corrections when it drops below the 111-day MA. Currently, this moving average stands at approximately $93,400. If BTC falls below this level, it could trigger a major downside move. Source: Ali_charts on X Fellow crypto analyst Merlijn The Trader shared their thoughts on the current BTC price action. The analyst shared the following chart which shows the similarity between BTC price action in 2021 and 2025. Source: Merlijn The Trader on X According to the chart, BTC is currently in the midst of completing a bullish diamond pattern. A successful completion of this pattern followed by a bullish breakout may propel BTC to new all-time highs (ATH) beyond $120,000. Where Is BTC Headed Next? Crypto investor Daan Crypto Trades also analyzed Bitcoin’s latest price movement, particularly in response to the CPI data. The report confirmed that inflation remains hot in the US, reducing the likelihood of further interest rate cuts from the Federal Reserve (Fed) in the near future. Daan noted: Most of the liquidity below was taken on the lower time frames. There’s a lot of untapped liquidity sitting higher after all these lower highs the past couple of weeks. If BTC can flip this local downtrend around, those could act as fuel for the move higher. Source: Daan Crypto Trades on X The investor also warned that if BTC slides below $90,000, it could enter a “danger zone.” This level has served as a key support area, with Bitcoin rebounding from it multiple times. A decisive break below it could increase the risk of a larger sell-off. Related Reading Despite the recent bearish developments, Bitcoin has held firm in the mid-$90,000 range. However, some market participants remain cautious about the possibility of a drop to $80,000 if selling pressure intensifies. At press time, BTC trades at $95,324, down 1% in the past 24 hours. BTC trades at $95,324 on the daily chart | Source: BTCUSDT on TradingView.com Featured image from Unsplash, Charts from X and TradingView.com Source link
Bitcoin Taps $100,000 But Fails To Hold Amid Mixed US Jobs Report
Este artículo también está disponible en español. The US Bureau of Labour Statistics released the January 2025 employment data earlier today, briefly pushing Bitcoin (BTC) to $100,000 before it lost all its gains and tumbled back to the $98,000 price level. Bitcoin Rises And Falls Amid Mixed Employment Data Bitcoin spiked from approximately $97,200 to a high of $100,110 after the US reported lower-than-expected job growth for January. According to the data, the US added 143,000 jobs last month, falling short of the projected 170,000. For comparison, December 2024 saw a job increase of 256,000. Related Reading However, Bitcoin’s rally was short-lived, as it quickly erased nearly all its gains, sliding back to $97,957. The following chart illustrates the brief BTC price surge before it retraced to previous levels. BTC surged above $100,000 before losing its gains and sliding to $97,957 | Source: BTCUSDT on TradingView.com In addition to the lower-than-expected job growth, the unemployment rate declined from 4.1% to 4%, highlighting the resilience of the US labor market despite elevated interest rates throughout most of 2024. Following this strong labor market data, the CME FedWatch Tool now assigns only an 8.5% probability of the US Federal Reserve (Fed) cutting interest rates at its next meeting on March 19. Notably, this probability stood at 15% before the employment report was released. A lower likelihood of rate cuts suggests that interest rates will remain higher for longer, dampening Bitcoin bulls’ hopes for multiple reductions in 2025, that could inject fresh liquidity into the market and potentially benefit risk-on assets like BTC. It’s worth noting that from September to December 2024, the Fed slashed interest rates by a total of 100 basis points. However, given the continued strength of the labor market and low unemployment, the Fed may adopt a more cautious stance, choosing to wait for potential economic warning signs before implementing further cuts. Global capital markets commentator, The Kobeissi Letter noted that the current US unemployment rate is the lowest since May 2024. They added that the “Fed pause is here to stay.” BTC Steady Despite Macroeconomic Headwinds Bitcoin continues to trade within a tight range of $92,000 to $106,000, keeping both bulls and bears uncertain about its next move. Despite this, the flagship cryptocurrency has shown remarkable resilience in the face of several macroeconomic challenges that, under normal circumstances, might have triggered a significant sell-off in the crypto market. Related Reading For instance, BTC remained unfazed by the stock market downturn triggered by the release of China’s AI-powered language model, DeepSeek. Similarly, the digital asset held strong despite renewed trade tensions between the US and China, following President Donald Trump’s imposition of 10% tariffs on the Asian economic powerhouse, which led to retaliatory measures. However, concerns persist regarding the recent slump in Bitcoin network activity, with some analysts questioning whether BTC is currently overvalued. At press time, BTC trades at $98,015, up 1% in the past 24 hours. BTC trades at $98,015 on the daily chart | Source: BTCUSDT on TradingView.com Featured image from Unsplash, Charts from TradingView.com Source link
Bitcoin 4-Hour RSI Hits Oversold Zone – Is A BTC Rebound Near?
Este artículo también está disponible en español. Bitcoin (BTC) has had a volatile 24 hours, plunging from $99,500 to as low as $91,231 amid mounting concerns over impending US trade tariffs on Canada, Mexico, and China. However, some crypto analysts see this sharp decline as a buying opportunity, suggesting that BTC may be oversold and poised for a rebound. Is Bitcoin Poised For A Relief Rally? Yesterday, the crypto market experienced one of its largest sell-offs in history, with over $2.3 billion in liquidations affecting more than 742,000 traders. This level of liquidations surpasses those seen during the COVID market crash in March 2020 and the FTX collapse in November 2022. Related Reading Despite the downturn, some analysts argue that BTC may have entered oversold territory, signaling a potential relief rally. Crypto analyst Caleb Franzen shared insights in a post on X, highlighting that Bitcoin’s 4-hour Relative Strength Index (RSI) has dipped into oversold levels. He noted: For the 5th time since August 2024, Bitcoin’s 4-hour RSI is becoming oversold. Each of the prior signals were attractive accumulation periods, even if price made new short-term lows after the signal flashed. For the uninitiated, the RSI is a momentum indicator that measures the speed and magnitude of recent price changes to determine whether BTC is overbought or oversold. A reading above 70 suggests overbought conditions – potential for a pullback – while a reading below 30 indicates oversold conditions – potential for a rebound. According to Franzen’s chart, Bitcoin’s current RSI is hovering around 24 on the 4-hour timeframe, indicating that BTC may be in an attractive accumulation zone. If historical trends hold, BTC could be on the verge of a short-term recovery. Source: Caleb Franzen on X Is There More Trouble For BTC Ahead? As of the latest updates, Donald Trump and his Mexican counterpart Claudia Sheinbaum have agreed to temporarily delay the proposed trade tariffs, offering some relief to financial markets. However, uncertainty remains regarding trade negotiations with Canada, leaving investors cautious about BTC’s next move. Related Reading Meanwhile, fellow crypto analyst Johnny’s analysis indicates that “the meat” of BTC’s current down move is likely over. The analyst added that as long as BTC continues to trade above range lows and the yearly open, it will “look good compared to the rest of the market.” However, not all experts are optimistic. Renowned businessman and author Robert Kiyosaki warns that BTC could face further downside pressure if Trump follows through with his tariff plans. According to Kiyosaki, increased tariffs could strengthen the US dollar, potentially driving investors away from risk assets like Bitcoin in the short term. At press time, BTC trades at $98,644, up 0.4% in the past 24 hours. BTC trades at $98,644 on the daily chart | Source: BTCUSDT on TradingView.com Featured image from Unsplash, Charts from X and TradingView.com Source link