Short sellers in the crypto market were hit hard on April 9, suffering their third-largest loss of 2025 after Bitcoin staged an unexpected rally. The surge followed President Donald Trump’s sudden decision to pause tariffs for 90 days on most countries, excluding China. After a week of heavy selling, this move sparked a swift rebound in […]
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Crypto and stock prices have surged in the past hour after US President Donald Trump announced a 90-day pause for tariffs on multiple nations, except China. Bitcoin (BTC), the flagship crypto, now eyes the $83,000 barrier after jumping 6.1% following the news. Related Reading: Bitcoin’s Next Big Move? Open Interest Says ‘Get Ready’ Trump Authorizes 90-Day Pause On Tariffs In a Truth Social post, President Trump announced he was raising China tariffs to 125% “effect immediately” due to a “lack of respect” shown to the World’s markets. This move follows China’s recently announced reciprocal 84% tariff rate on US goods, starting April 10. “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump explained. In the Wednesday post, the US President also revealed he had authorized a “90 days PAUSE” for other countries, as 75 nations reached out to multiple US Representatives, including the Departments of Commerce, Treasury, and the US Trade Representative, to “negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non-Monetary Tariffs.” Additionally, he authorized an immediate substantially lowered Reciprocal Tariff of 10% during the 90-day pause. In a second post, the President stated, “This is a great time to buy.” Following the news, stock prices surged, with the S&P 500 (SPX) surging around 6% since the announcement. Meanwhile, the crypto market saw its total market capitalization jump around 5%, with assets like Bitcoin, Ethereum (ETH), XRP, and Solana (SOL) increasing 6%-12% in an hour. Bitcoin Price Surges To $82,000 The flagship crypto climbed from the $76,000-$77,000 range to the $82,000, momentarily reclaiming this level for the first time since Sunday. Its 6% surge has sparked optimism among investors, who saw Bitcoin fall to a five-month low over the weekend. BTC dropped nearly 10% between Sunday and Monday, fueled by the ongoing tariff war. Amid the correction, Bitcoin hit the $74,000 support zone for the first time since November. Related Reading: Solana (SOL) Needs 15% Bounce After Multi-Year Support Retest, Recovery Ahead? On Monday, BTC also saw a brief recovery of the $80,000 barrier after major media outlets reported the White House was considering a 90-day pause on tariffs. However, the cryptocurrency erased most gains after the news turned fake. According to online reports, today’s surge triggered $75,000,000 worth of Bitcoin shorts being liquidated in the past 60 minutes. As of this writing, Bitcoin trades at $82,444, a 4.1% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
President Trump said he authorized a 90-day pause on tariffs on countries that haven't retaliated against the U.S.
Binance plans to launch the reward-bearing margin asset LDUSDT for its futures platform and the former Ethereum developer Virgil Griffith gets out of prison on parole.
An Ethereum whale has dumped its ETH holdings after holding them for over two years, even through a bull market. This capitulation from the ETH whale suggests it might be a good time to offload the leading altcoin, with a further crash in the coming weeks a possibility. Ethereum Whale Dumps 10,000 ETH After 900 Days In an X post, on-chain analytics platform Lookonchain revealed that an Ethereum whale finally capitulated after holding for over 900 days, selling all their 10,000 ETH for $15.71 million. This whale had originally bought 10,000 ETH for $12.95 million at an average price of $1,295 on October 4 and November 14, 2022. Related Reading: Ethereum Pain Is Far From Over: Why A Massive Drop To $1,400 Could Rock The Underperformer The Ethereum whale didn’t sell any of their ETH holdings, even when the leading altcoin broke through $4,000 twice in 2024. However, the whale has now capitulated with the Ethereum price below $1,500, nearing their average entry price of $1,295. The investor sold the coins for a $2.75 million profit, while their unrealized profit was $27.6 million at its peak. This Ethereum whale isn’t the only one who is capitulating. As Bitcoinist reported, ETH whales have dumped over 500,000 coins in the space of 48 hours. This development is thanks to Ethereum’s massive crash, with the leading altcoin at risk of dropping lower. This decline is part of a broader crypto market crash, which has occurred due to Donald Trump’s tariffs. Trump’s tariffs have led to a major trade war with China, which has promised not to back down, further sparking concerns among investors. As such, the Ethereum price looks more likely to suffer a further crash in the meantime, which explains why these Ethereum whales are capitulating to cut their losses. Donald Trump’s World Liberty Financial Also Capitulating? Donald Trump’s World Liberty Financial (WLFI), an Ethereum whale, looks to be feeling the heat and might have already started capitulating. Citing Arkham Intelligence’s data, Lookonchain revealed that a wallet possibly linked to WLFI sold 5,471 ETH for $8.01 million at the price of $1,465, representing a loss for the whale in question. Related Reading: From Solana To Ethereum? Donald Trump’s World Liberty Spends $20 Million On ETH World Liberty Financial had previously bought 67,498 ETH for $210 million at an average price of $3,259. The crypto firm is now sitting on an unrealized loss of $125 million, seeing as the Ethereum price has declined by over 50% since their purchases. Crypto analyst Ali Martinez predicts that the Ethereum price will crash further in the short term, indicating that Ethereum whales like WLFI could witness more unrealized loss on their ETH holdings. Martinez stated that $1,200 could be where the leading altcoin finds its footing. At the time of writing, the Ethereum price is trading at around $1,400, down over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com
World Liberty Financial (WLFI), the DeFi project partly owned by US President Donald Trump‘s family, has begun offloading some Ethereum holdings amid the top asset’s recent price struggles. On April 9, blockchain analysis platform Lookonchain, citing data from Arkham Intelligence, reported that a wallet linked to the DeFi venture sold 5,471 ETH for approximately $8.01 […]
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US Treasury yields rose considerably in recent days, which shows 'shrinking appetite' for risk assets including crypto.
Bitcoin’s price movement is starting to look positive after a brief stretch of crashes on Sunday and Monday. After breaking down to $74,000 on Monday, bearish momentum looked ready to drag Bitcoin’s price down further. However, bulls quickly stepped in to defend the dip. Their aggressive buying has pushed the price back up, with Bitcoin now moving towards the $80,000 level again. This recent crash is interesting because it aligns almost perfectly with a high-telling metric. This metric not only foreshadowed the crash, but it is now pointing to a powerful upward move for the next Bitcoin rally. Analyst Says Global M2 Is A Leading Signal For Bitcoin’s Next Move Colin, a well-followed crypto analyst on X, recently drew attention to Bitcoin’s relationship with the global M2 money supply. Taking to social media platform X, the analyst shared a chart showing Bitcoin’s price correlation with the Global M2 Money Supply, although with a 108-day offset. It almost looks like the Global M2 Money Supply is working as a template for Bitcoin’s price action, as the leading cryptocurrency has been tracing this offest almost step by step since August 2024. Related Reading: Bitcoin Vs. Global M2 Money Supply Shows A Big Move Coming, Here’s The Target In his latest post, Colin explained that Bitcoin continues to “follow Global M2 like glue.” The chart he shared overlays Bitcoin’s candlestick movements with a yellow line representing the M2 supply offset by that duration. The result is a striking correlation that Colin has consistently tracked for over a year. The chart below highlights what Colin labeled a mini-rally that failed and another crash, which has played out just as M2 had predicted. Now, with Bitcoin starting April with this crash, the M2 indicator suggests that it could very well blast off anytime soon. However, Colin noted that the price could consolidate further or experience minor dips before the anticipated rally. The analyst noted that the leading cryptocurrency is not fully out of the woods. But if lucky, it will be mostly sideways from here until the blastoff shown by the M2, which is not until May. May Blast-Off? BTC’s Rally Setup Strengthens Despite Short-Term Crash Colin’s forecast is based on the idea that Bitcoin could begin a major upward move by early May, which he called a May “blast-off.” The yellow M2 projection curve on his chart shows a steep climb ahead starting from May 1, indicating the possibility of Bitcoin rallying toward $128,000 if the correlation remains intact. Related Reading: Bitcoin Price Struggles: Crypto Analyst Bucks Back Against Bearish Sentiment, Top Is Not In However, the analyst did not forgo the short-term risks that Bitcoin and the entire crypto market might face in April. These short-term risks are based on policy concerns regarding the “Trump tariffs,” which have set the investing markets ablaze in the past few days. The coming weeks will be important for the outcome of this blastoff. Should it hold above the $78,000–$80,000 level while maintaining alignment with the Global M2 Money Supply, May could usher in the parabolic move Colin is hinting at. At the time of writing, Bitcoin is trading at $79,255, up by 5.5% in the past 24 hours. Featured image from Unsplash, chart from Tradingview.com
Speculation over a purported White House plan to pause tariffs for ninety days on all countries except China sent markets into a frenzy earlier today, triggering abrupt price reversals across equities, Bitcoin and cryptocurrencies. In a quick-fire series of conflicting updates, the rumor initially floated at around 10:10 AM ET, sparked momentum in risk assets, and was eventually deemed “fake news” by the White House. The Kobeissi Letter (@KobeissiLetter) described the chronology on X, noting: “What just happened? At 10:10 AM ET, rumors emerged that the White House was considering a ‘90-day tariff pause.’ At 10:15 AM ET, CNBC reported that Trump is considering a 90-day pause on tariffs for ALL countries except for China. By 10:18 AM ET, the S&P 500 had added over +$3 TRILLION in market cap from its low.” Related Reading: Understanding Bitcoin Struggles: Why Realized Cap Indicates A Bear Market However, only seven minutes later, at 10:25 AM ET, reports emerged that the White House was ‘unaware’ of Trump considering a 90-day pause. “At 10:26 AM ET, CNBC reports that the 90-day tariff pause headlines were incorrect. At 10:34 AM ET, the White House officially called the tariff pause headlines ‘fake news.’ By 10:40 AM ET, the S&P 500 erased -$2.5 TRILLION of market cap from its high, 22 minutes prior. Never in history have we seen something like this,” The Kobeissi Letter writes. The mere suggestion of a temporary reprieve from tariffs managed to shift sentiment rapidly in both equity and crypto markets. BTC, which was trading around $75,805 at the time, soared by roughly 7.2% to surpass $81,200 within half an hour. Once confirmation arrived that no such pause was planned, the gains evaporated almost as fast as they had arrived, pulling Bitcoin back to roughly $77,560. The abrupt turn of events unleashed a wave of commentary among crypto observers. Pentoshi (@Pentosh1) remarked that “The fake news tweet showed there’s a lot of sidelined capital at least for relief rally and the risk is to the upside on any positive news at least temporarily.” Will Clemente III cautioned: “Bear take: Liquidity is bad and this volatility might break something. Bull take: This headline was the cointelegraph intern BTC ETF headline but for equities.” Related Reading: Bitcoin’s Bullish Fate Hinges On These 2 Resistance Zones – Details Julio Moreno, Head of Research at CryptoQuant, remarked that “Bitcoin’s current price drawdown is about to become the largest of the current cycle,” illustrating his point with a chart that showed BTC’s correction reaching -26.62%, matching the scale of August 2024’s correction. Macro analyst Alex Krüger (@krugermacro) invoked BlackRock CEO Larry Fink’s observation that another 20% market drop is not out of the question, saying: “That’s the thing. Under normal circumstances, probability of such scenarios or things such as stagflation are so low you can just brush them off. Trump opened up the left tail => anything is possible. We are one headline away from a 7% candle in either direction.” Podcast host Felix Jauvin (@fejau_inc) agrees: “What’s so crazy about this crash vs other is its entirely self-willed and could be reversed in an instant on one tweet. Has there ever been anything like that?” In the midst of the turmoil, European Union Commissioner Ursula von der Leyen reaffirmed a willingness to seek solutions, stating, “Europe is ready to negotiate with the US,” including the possibility of zero-for-zero tariffs on industrial goods. At press time, BTC traded at $78,824. Featured image created with DALL.E, chart from TradingView.com
The following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Shiba Inu’s layer-2 network, Shibarium, has officially crossed one billion total transactions, a significant achievement for the ongoing push to expand beyond meme coin status. Shibarium’s growth stems from steady activity and the adoption of the layer-2 network within the broader Shiba Inu ecosystem. However, this major milestone hasn’t translated into positive momentum for SHIB’s price, which has been under bearish pressure for weeks now alongside the rest of the crypto market. Shibarium Surpasses 1 Billion Transactions With Intensifying Network Activity The launch of Shibarium in August 2023 marked a turning point for the meme cryptocurrency’s ecosystem. The goal of the layer-2 network was to improve the speed and lower the cost of Shiba Inu transactions on the Ethereum blockchain. Since its launch, Shibarium has consistently increased user participation, smart contract deployments, and daily transactions. Related Reading: Shiba Inu’s Shibarium Records Heartbreaking 96% Crash In Transactions, What’s Going On? According to data from Shibariumscan, total transactions have now exceeded the one billion mark, showcasing the sheer amount of activity the network has processed. At the time of writing, Shibarium boasts 1,012,261,457 transactions processed in 10,284,922 blocks and 194,705,571 addresses created. Daily transaction volumes frequently reach the millions, sometimes tens of millions, during periods of high activity in the wider crypto market. Notably, the number of transactions processed on the Shibarium network in the past 24 hours has reached 2.75 million, with an even larger 4.11 million processed in the previous 24-hour timeframe. However, despite the milestone and notable transaction activity, SHIB has failed to make any meaningful price gains. Why Is Shiba Inu Price Still Struggling And Holding Flat Near $0.000012? SHIB’s price performance has been far less encouraging despite Shibarium’s transaction milestone. Since its launch, major milestones tied to the Layer-2 network have often led to increased buying activity. During earlier stages of Shibarium’s rollout, even modest developments were enough to spark rallies or at least short-term price jumps for SHIB. Related Reading: Shiba Inu Burn Update: 99.44% Daily Burn Crash Could Spell Trouble For Meme Coin However, the correlation between Shibarium milestones and SHIB’s price has finally detached, and the hype has finally faded. Shibarium is now only a strong part of the Shiba Inu ecosystem, but its ability to influence the sentiment among crypto investors and price action has diminished. However, outside this detachment, the crypto markets have been generally bearish for a while. The entire crypto landscape has experienced a persistent pullback since early March, with many large-market-cap cryptocurrencies struggling to find upward momentum. Bitcoin and other major cryptocurrencies have been on a pullback, which was recently made worse by Donald Trump’s tariffs announcement. Over the past seven days, SHIB has been locked around the $0.000012 level and is currently down by 9.4%. The absence of strong buying interest has kept SHIB’s price trapped within this tight downfall, and there is even a risk of it falling below $0.000012 anytime soon. At the time of writing, Shiba Inu is trading at $0.00001210, down by 1.2% in the past 24 hours. Featured image from Adobe Stock, chart from Tradingview.com
The crypto market watches with bated breath as XRP teeters at $1.97, a battleground where bullish conviction clashes with bearish determination. After a retreat from recent highs, the digital asset now faces a critical test. The current standoff mirrors the broader tug-of-war in crypto markets, where sentiment shifts rapidly and key price levels dictate the next major move. For XRP, $1.97 isn’t just another number; it’s a line in the sand. A decisive hold here could reignite upward momentum, while a breakdown may embolden the bears. Market Sentiment: Fear, Greed, Or Indecision? According to Grumlin Mystery, a well-known crypto analyst, XRP is likely to experience a further downside in the near future, potentially dropping to $1.96. In his March 30th post on X, he highlighted that a decrease in liquidity within the crypto market is playing a crucial role in weakening XRP’s price stability, driven by the impact of US tariffs and the implementation of Trump’s policy changes. Related Reading: XRP Recovery Stalls—Are Bears Still In Control? Grumlin pointed out that restrictive trade policies and economic uncertainty have led to a slowdown in capital flow into riskier assets like cryptocurrencies. With reduced liquidity, market participants have less buying power, making it easier for bears to push prices lower. He warned that if these economic conditions persist, XRP could struggle to find strong support, and a drop below $1.96 could trigger further declines. This drying up of liquidity has allowed sellers to gain the upper hand, exerting downward pressure on prices. As a result, XRP’s ability to hold support at $1.96 remains uncertain, and unless market conditions improve, a deeper correction could be on the horizon. Grumlin Mystery further elaborated that a sharp change in Trump’s rhetoric regarding tariffs remains highly unpredictable, making it difficult to gauge its full impact on the financial markets, including cryptocurrencies. While many initially believed that Trump’s stance would be a major positive catalyst for the crypto market, the reality appears to be more complex. The analyst emphasized that market uncertainty is increasing as traders struggle to anticipate the next move in U.S. economic policy. If Trump maintains or intensifies his tariff approach, it could further tighten liquidity conditions, making it even harder for XRP to sustain bullish momentum. Possible Scenarios For XRP If buyers successfully defend the $1.96 level, XRP could see renewed upside momentum. A bounce from this support zone might trigger a rally toward $2.64, where the next resistance lies. A breakout above this level raises the potential to $2.92 or even $3.4, confirming a bullish recovery. Increased trading volume and improving market sentiment would be key indicators of this scenario playing out. Related Reading: XRP Price Prediction For April: Analyst Explains What To Expect Sellers’ failure to maintain control and XRP’s failure to hold above $1.96 may cause a sharper decline. In this case, the next critical support levels to watch would be $1.70 and $1.34. Breaking below these levels could expose the asset to more losses to $0.93 or lower. Featured image from iStock, chart from Tradingview.com
The panel voted to advance the confirmations of Paul Atkins to run the SEC and Jonathan Gould to lead the OCC, both of which would have a big say in crypto.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The Bitcoin price plunged by 7.2%—from $88,526 to $82,150—within the span of four hours following the reciprocal tariff announcement by US President Donald Trump on Wednesday. The precipitous drop aligns with a broader market rout set off by what has been described as one of the largest tariff packages in modern US history. Bitcoin Crashes After Trump’s Tariff Bombshell On Wednesday afternoon, markets were jolted by a sweeping set of “reciprocal tariffs” that President Trump claimed would be levied on 185 countries “all at once.” The news sent ripples across global finance, with the S&P 500 futures market reportedly shedding $2 trillion of market capitalization in under 15 minutes. According to The Kobeissi Letter (via X): “Reciprocal tariffs are officially HERE: President Trump just announced tariffs on 185 countries AT ONCE, one of the largest tariffs in US history. S&P 500 futures erased -$2 TRILLION of market cap in under 15 minutes. ” Related Reading: Bitcoin’s Fate Hinges on This Critical ‘Dead Cross’ Signal — What’s Next for BTC? The initial press coverage noted a 10% baseline tariff. However, as Trump spoke, the scheme’s complexity and scope became more apparent. He clarified that tariffs would be “reciprocal” but set to half of whatever rate another country currently imposes on US goods—a figure well beyond the 10% baseline in many cases. China, for instance, reportedly applies 67% tariffs on certain imports from the United States, suggesting a 34% tariff reciprocally aimed at Chinese imports. Meanwhile, the European Union could face a 20% tariff. “This is VASTLY different than a 10% tariff across the board,” The Kobeissi Letter pointed out, adding that these significantly higher rates created massive volatility. At one point in Trump’s announcement, the S&P 500 futures reversed from being up 2% to dropping 4%—an abrupt 6-percentage-point swing in under 20 minutes. By the time the “Make America Wealthy Again Event” concluded, the markets had sustained those losses, with Nasdaq 100 futures indicating a potential 500-point decline from prior levels. Bitcoin, which was up 8.9% since Monday morning, instantly experienced the same turmoil, shedding 7.2% of its value. Julio Moreno, Head of Research at CryptoQuant, remarked via X: “I hope Bitcoiners learn that Trump’s tariffs are a net negative for Bitcoin and the US economy.” Related Reading: Is The Bitcoin Bull Run Over? Watch This Key Price He further elaborated: “Trump has introduced too much uncertainty to the world economy with his tariffs. There’s a high enough chance of recession if the tariffs last long enough. This of course has hit Bitcoin and crypto prices in spite of a positive regulatory environment and [the Strategic Bitcoin Reserve].” Economic Projections While the precise long-term effects remain unclear, several prominent institutions have already issued forecasts. JPMorgan analysts warn: “On a static basis, today’s announcement would raise just under $400 billion in revenue, or about 1.3% of GDP, which would be the largest tax increase since the Revenue Act of 1968. We estimate that today’s announced measures could boost PCE prices by 1–1.5% this year… This impact alone could take the economy perilously close to slipping into recession. And this is before accounting for the additional hits to gross exports and to investment spending.” Simultaneously, The Kobeissi Letter noted that the average US tariff rate—once the new set of duties is enforced—could exceed levels not seen since World War II. They cautioned that the White House’s targeted tariff revenue of $600 billion per year may be optimistic, suggesting only half that amount might materialize based on current data. Additional exemptions—such as copper, pharmaceuticals, semiconductors, and lumber—amplified the confusion, indicating that the tariffs will vary widely by sector and country of origin. UBS, as quoted by The Kobeissi Letter, also raised the alarm about inflation: “BREAKING: UBS says a permanent implementation of President Trump’s reciprocal tariffs would result in inflation rising to 5%. This would be a result of prices rising to ‘adjust to the higher costs of imports.’ We are on the verge of 5% inflation and negative GDP growth.” Although President Trump hinted at forthcoming “largest tax cuts in American history,” markets did not bounce back on that news. He specified that Medicare, Medicaid, and Social Security benefits would be spared from cuts, but investors and analysts appeared more focused on the immediate shock from the tariff package. At press time, BTC recovered to $83,207. Featured image created with DALL.E, chart from TradingView.com
By the end of the year, Matcha anticipates that most decentralized exchanges and aggregators will support Solana.
Bitcoin retreated to $86,000 in volatile action as the announcements were made.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
President Trump is expected to announce large-scale tariffs, including reciprocal tariffs, later on Wednesday.
Technical expert Tony Severino has warned that the Bitcoin and altcoins Fischer Transform indicator has flipped bearish for the first time since 2021. The analyst also revealed the implications of this development and how exactly it could impact these crypto assets. Bitcoin And Altcoins Fischer Transform Indicator Turns Bearish In an X post, Severino revealed that the total crypto market cap 12-week Fisher Transform has flipped bearish for the first time since December 2021. Before then, the indicator had flipped bearish in January 2018. In 2021 and 2018, the total crypto market cap dropped 66% and 82%, respectively. This provides a bearish outlook for Bitcoin and altcoins, suggesting they could suffer a massive crash soon enough. Related Reading: Bitcoin Fischer Transform Returns To 2022 Bear Levels, Why Max Pain Could Continue For 4 Months In another X post, the technical expert revealed that Bitcoin’s 12-week Fischer Transform has also flipped bearish. Severino noted that this indicator converts prices into a Gaussian normal distribution to smooth out price data and filter out noise. In the process, it helps generate clear signals that help pinpoint major market turning points. Severino asserted that this indicator on the 12-week timeframe has never missed a top or bottom call, indicating that Bitcoin and altcoins may have indeed topped out. The expert has been warning for a while now that the Bitcoin top might be in and that a massive crash could be on the horizon for the flagship crypto. He recently alluded to the Elliott Wave Theory and market cycles to explain why he is no longer bullish on Bitcoin and altcoins. He also highlighted other indicators, such as the Parabolic SAR (Stop and Reverse) and Average Directional Index (ADX), to show that BTC’s bullish momentum is fading. The expert also warned that a sell signal could send BTC into a Supertrend DownTrend, with the flagship crypto dropping to as low as $22,000. A Different Perspective For BTC Crypto analyst Kevin Capital has provided a different perspective on Bitcoin’s price action. While noting that BTC is in a correctional phase, he affirmed that it will soon be over. Kevin Capital claimed that the question is not whether this phase will end. Instead, it is about how strong Bitcoin’s bounce will be and whether the flagship crypto will make new highs or record a lackluster lower high followed by a bear market. Related Reading: Bitcoin CME Gap Close About To Happen With Push Toward $83,000 – What Happens Next? The analyst added that Bitcoin’s price action when that time comes will also be trackable using other methods, such as money flow, macro fundamentals, and overall spot volume. The major focus is on the macro fundamentals as market participants look forward to Donald Trump’s much-anticipated reciprocal tariffs, which will be announced tomorrow. At the time of writing, the Bitcoin price is trading at around $83,000, up around 1% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Trump's March executive order to establish the reserve aligned closely with policy recommendations previously suggested by the think tank.
Bitcoin and other major cryptocurrencies added small gains in price late night Monday as investors await Trump's tariff annnouncement.
Amid the Bitcoin price struggles, crypto analyst BitQuant has pushed back against the idea that the top is in and instead provided a bullish outlook for the flagship crypto. He also remarked that he would reveal when the “real top” is in. Analyst Affirms Top Isn’t In Yet Despite The Bitcoin Price Stuggles In an X post, BitQuant was confident as he assured that the top isn’t in yet despite the Bitcoin price struggles. He noted that during the last cycle, market participants argued that $60,000 didn’t look like a top, even though it had a perfect textbook structure of one. Now, there is a panic although this top structure has yet to form in this market cycle. Related Reading: This Bear Market Indicator Says Bitcoin Price Is Headed For Crash To $40,000, Here’s When The analyst stated that he understands the bearish sentiment but that this is likely because some market participants haven’t experienced the bull phase yet. He affirmed that when the real top is in for the Bitcoin price, and there is a 25% pullback, he will post his accompanying chart again. The analyst added that market participants would know for sure, without any guidance, whether the top is in or not. Crypto analyst Kevin Capital also suggested that the top isn’t in yet for the Bitcoin price. However, he admitted that the crypto is in a major correctional phase in the market. The analyst remarked that these corrections take time and asked market participants to stay patient while monitoring the macro data and monetary policy updates. Kevin Capital mentioned that much can be done in the meantime and claimed that this is what crypto is like. He added that most of the Bitcoin price gains are accomplished in a two-week period every year. Other times, the flagship crypto simply trades sideways or witnesses significant declines. BTC Still Risks Dropping To As Low As $70,000 In a recent analysis, Kevin Capital predicted that the Bitcoin price could still drop to as low as $70,000. He stated that if BTC loses the golden pocket at $81,000 and follows through with that measured target, then the $70,000 to $73,000 range, which he has outlined on the higher time frames, would be the “Measured Move” target. Related Reading: Bitcoin Price Set For Reversal To $130,000 After Forming Major Cup And Handle Support The analyst also remarked that there are lots of factors this week that will influence price action. One is Donald Trump’s tariff implementation on April 2nd, which he suggested could be a buy-the-news event in the sense that BTC has also priced into the effects of the proposed tariff and could surge once the event occurs. Kevin Capital also highlighted other macro factors, such as the labor market data at the end of the week. Meanwhile, the US Treasury run-off will decrease from $25 billion to $5 billion starting April 1st. The analyst admitted that it remains uncertain whether these events have an immediate sentiment effect or even affect the sentiment at all. At the time of writing, the Bitcoin price is trading at around $82,000, down almost 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pexels, chart from Tradingview.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The company's holdings now total 528,185 BTC — around 2.5% of the total 21 million bitcoin supply — worth over $43 billion.
Bitcoin investors added $195 million to global products while altcoin-based funds saw net inflows for the first time in five weeks.
Crypto analyst Rekt Capital recently discussed the Bitcoin price action and provided insights into the flagship crypto’s future trajectory. Specifically, he alluded to BTC’s RSI, which is showing a similar pattern to last year, just before the rally to new highs. Bitcoin’s RSI Targeting Daily Retest That Triggered 2024 Price Rally In an X post, Rekt Capital revealed that Bitcoin’s RSI is targeting a daily retest that triggered the 2024 price rally. He mentioned that last week, the daily RSI successfully performed a post-breakout retest of the RSI downtrend, which dates back to November 2024, to confirm the breakout. He added that the RSI is now going for another retest of that same downtrend. Related Reading: Analyst Says Bitcoin RSI Dominance Needs To Crash To This Level For The Bull Run To Resume The Bitcoin price rallied to $100,000 during this November 2024 period following Donald Trump’s victory in the US presidential elections. Rekt Capital’s accompanying chart showed that the RSI is retesting the 40 zone, with a break below this level likely to spark another downtrend for the flagship crypto. On the other hand, holding above this RSI level could spark another uptrend for BTC, sending its price to new highs. However, the Bitcoin price looks more likely to face another major correction at the moment, having dropped from its weekly high of around $88,500 to below $84,000 on Friday. Macro factors like Donald Trump’s tariffs and the US Federal Reserve’s quantitative tightening policies are weakening the flagship crypto’s bullish momentum. Trading firm QCP Capital opined that any short-term upside for the Bitcoin price remains capped as markets wait for clarity from Trump’s next move in the escalating trade war. The PCE inflation data, which was released on Friday, also sparked a bearish outlook for BTC as the core index rose beyond expectations. BTC Could Form Local Bottom At Current Price Level Crypto analyst Titan of Crypto suggested that the Bitcoin price could form a local bottom at its current price level. He noted that BTC is still holding above a strong confluence of supports, including the monthly Tenkan and midline of the monthly Fair Value Gap. The analyst added that the last two times BTC has held these supports, it has marked a local bottom. Related Reading: Popular Analyst PlanB Expects Bitcoin Price To Double In 2025 As Bear Market Is Not Here In an earlier post, Titan of Crypto had raised the possibility of the Bitcoin price rallying to $91,000 soon. He stated that a bullish pennant had formed on the 4-hour chart. According to him, if this pattern breaks to the upside, the BTC target is around $91,400. Meanwhile, legendary trader Peter Brandt looks bearish as he recently predicted that BTC could drop to as low as $65,635. At the time of writing, the Bitcoin price is trading at around $83,900, down over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com
The U.S. banking agency withdrew policies that contributed to crypt industry accusations that it pressured institutions to "debank" digital assets customers.
Grayscale follows VanEck in seeking the SEC's approval to launch an Avalanche ETF alongside a slew of recent crypto fund proposals.