{"id":124850,"date":"2025-03-11T15:15:46","date_gmt":"2025-03-11T15:15:46","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124850"},"modified":"2025-03-11T15:15:46","modified_gmt":"2025-03-11T15:15:46","slug":"bitcoin-dips-below-80k-as-trump-canada-tariffs-halt-btc-price-comeback","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124850","title":{"rendered":"Bitcoin dips below $80K as Trump Canada tariffs halt BTC price comeback"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) cooled a 7% rebound after the March 11 Wall Street open as familiar headwinds sparked market jitters.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<br \/>\nBitcoin, stocks deflate on fresh tariffs letdown<br \/>\nData from Cointelegraph Markets Pro and TradingView followed BTC\/USD as it touched local highs of $82,154 on Bitstamp before consolidating.<br \/>\nUS JOLTS job openings data delivered a slight overshoot versus expectations, but it was confirmation of further trade tariffs on Canada by US President Donald Trump that spoiled risk-asset relief.<br \/>\nThe S&amp;P 500 thus traded down 0.5% on the day at the time of writing, while stock indexes continued to see volatility.<br \/>\n\u201cThe S&amp;P 500 was up +5% at this point in Trump\u2019s first term. Instead, it\u2019s now down -7% since January 20th,\u201d trading resource The Kobeissi Letter observed in part of a reaction on X.\u00a0<br \/>\n\u201cA polar opposite start to his term so far.\u201d<br \/>\nS&amp;P 500 comparison. Source: The Kobeissi Letter\/XTrading firm QCP Capital added that Trump\u2019s apparent \u201cindifference to recession risks\u201d made life harder for risk assets but acknowledged that some silver linings remained.<br \/>\n\u201cDespite the market turmoil, not all signals are bearish,\u201d it summarized in its latest bulletin to Telegram channel subscribers.\u00a0<br \/>\n\u201cThis wave of risk-off sentiment has driven 10-year Treasury yields down by around 60 bps and weakened the US dollar \u2014 a historically positive factor for USD-denominated risk assets like US equities and crypto.\u201d<br \/>\nUS dollar index (DXY) 1-day chart. Source: Cointelegraph\/TradingViewThe US dollar index (DXY) dropped to 103.32 on the day, marking its lowest level since mid-October 2024.<br \/>\nNew BTC price lows still \u201cpossible\u201d<br \/>\nBitcoin price analysis meanwhile saw BTC\/USD at a crossroads amid a lack of clear upside catalysts.<br \/>\nRelated: Biggest red weekly candle ever: 5 things to know in Bitcoin this week<br \/>\nTrading channel More Crypto Online used Elliott Wave theory to delineate key support and resistance levels, warning that price could still head to new long-term lows.<br \/>\n\u201cThe price is still undecided after the New York open. A bottom could be forming here, but another low is possible as long as resistance holds,\u201d it told X followers.\u00a0<br \/>\n\u201cA confirmed low needs a sustained break above yesterday\u2019s high in 5 waves. The market, as always, enjoys keeping traders guessing.\u201d<br \/>\nBTC\/USD 1-hour chart. Source: More Crypto Online\/XPopular trader CrypNuevo meanwhile described a \u201cgreat reaction\u201d at the 50-week simple moving average (SMA) at around $75,500.<br \/>\nAs Cointelegraph reported, that support trendline has remained without a candle close below it since March 2023.<br \/>\nBTC\/USD 1-week chart with 50SMA. Source: Cointelegraph\/TradingViewThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-dips-below-80-k-as-trump-canada-tariffs-risk-asset-relief?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) cooled a 7% rebound after the March 11 Wall Street open as familiar headwinds sparked market jitters.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView Bitcoin, stocks deflate on fresh&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124850"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124850"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124850\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124850"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}