Bitcoin has recently achieved a new plateau, reaching local highs of $86,444 on Bitstamp, signaling a notable performance since late March. This uptick comes as the markets prepare for a significant announcement from U.S. President Donald Trump about reciprocal trade tariffs, termed "Liberation Day," which is anticipated to impact various financial assets. Despite a slight downturn in U.S. stock markets, Bitcoin's resilience is evident as it maneuvered back into crucial support areas defined by long-term trend lines, including vital moving averages like the 200-day SMA. Some analysts, including Rekt Capital, have indicated that while Bitcoin is consolidating, particularly between the 21-week and 50-week EMAs, it is on the cusp of a breakout, provided it maintains above certain price thresholds. Looking ahead, analysts remain divided. While some express optimism regarding Bitcoin's potential to break out of an extended downtrend, others, such as trading firm QCP Capital, suggest that the overall trading sentiment in the crypto sphere remains subdued. They caution that without a significant shift in macroeconomic conditions, the possibility of a significant price reversal may be limited. The ongoing reactions to tariff news could potentially see Bitcoin retrace to levels around $76,000, reflecting an 11% dip from current prices, a scenario noted by firms like Swissblock. As the market awaits further developments, the overarching sentiment among traders remains cautious, underscoring the need for careful evaluation and strategy. Investors are advised to approach with caution and conduct thorough research before making any trading decisions, as market dynamics can shift rapidly in response to news and economic events.
Bitcoin has recently reached new local highs of $86,444 on Bitstamp, reflecting a notable performance since late March. This increase coincides with the impending announcement from U.S. President Donald Trump regarding reciprocal trade tariffs, dubbed "Liberation Day," which is expected to impact various financial markets. Despite a slight decline in U.S. stock markets, Bitcoin has shown resilience, reclaiming key support areas defined by long-term trend lines and crucial moving averages like the 200-day Simple Moving Average (SMA). Analysts, including Rekt Capital, suggest that Bitcoin is in a consolidation phase between the 21-week and 50-week exponential moving averages (EMAs) and may be poised for a breakout if it maintains certain price thresholds. However, market sentiment remains mixed. While some analysts are optimistic about Bitcoin's potential to escape an extended downtrend, others, including the trading firm QCP Capital, point to a generally subdued trading ...