Source: Cointelegraph.com NewsBitcoin looks set for a bearish open to mark the last trading day of March and possibly the weakest Q1 performance since 2018.\u00a0
\nCrypto and stock traders\u2019 anxiety over US President Donald Trump\u2019s fresh wave of 25% tariffs on cars imported to the US, the threat of tariffs on the pharmaceutical industry is clearly reflected in BTC\u2019s current downside. Trump\u2019s frequent references to April 2 being \u201cLiberation Day\u201d (the day when an apparent number for \u201creciprocal tariffs\u201d will be assigned to various countries) also has shaken traders\u2019 confidence.\u00a0
\nAt the time of publishing, stock futures have already slipped into the red, with the DOW futures shedding 206 points and the S&P futures down 0.56%. As expected, Bitcoin’s (BTC) price moved in tandem with equities markets, slipping to $81,656 on March 30 and locking in a 7th consecutive day of lower lows.\u00a0
\nUS futures markets performance on March 30. Source: X \/ Spencer HakimianAfter a tumultuous month, equities markets look set to close down for the month, with the S&P 500 down 6.3% for the month and the Nasdaq and DOW each registering 8.1% and 5.2% respective losses.\u00a0
\nBitcoin\u2019s steady decline is a combination of weak demand in spot markets and clear derisking from traders who are reluctant to open fresh positions in BTC\u2019s futures markets.\u00a0
\nLast week\u2019s core Personal Consumption Expenditures (PCE) data showed a higher-than-anticipated uptick in inflation, and March consumer confidence data from the Conference Board showed the monthly confidence index, which reflects respondents\u2019 expectation for income, business and job prospects at a 12-year low.\u00a0<\/p>\n
Consumer confidence present situation and future expectations data. Source: The Conference BoardRelated: Bitcoin bottom \u2018likely\u2019 at $80K, opening door for TON, CRO, MNT and RENDER to rally Source: Cointelegraph.com NewsBitcoin looks set for a bearish open to mark the last trading day of March and possibly the weakest Q1 performance since 2018.\u00a0 Crypto and stock traders\u2019 anxiety… <\/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\/126110"}],"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=126110"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126110\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126110"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nRecession odds also continue to rise, with a recent report from Goldman Sachs raising the 12-month recession probability from their previous 20% to 35%. In the report, Goldman Sachs\u2019 analysts said,\u00a0
\n\u201cThe upgrade from our previous 20% estimate reflects our lower growth beeline, the sharp recent deterioration in household and business confidence and statements from White House officials indicating greater willingness to tolerate near-term economic weakness in pursuit of their policies.\u201d\u00a0\u00a0\u00a0\u00a0
\nUS recession odds raised by Goldman Sachs. Source: X \/ Peter BerezinDoes Bitcoin\u2019s downside have a silver lining?\u00a0
\nWhile many crypto analysts have publicly revised their bullish six-figure-plus BTC price estimates and now forecast a revisit to Bitcoin\u2019s swing lows in the mid $70,000 range, institutional investors continue to buy, and net inflows to the spot ETFs remain positive.\u00a0
\nOn March 30, Strategy CEO Michael Saylor took to X and posted his famous orange dots Bitcoin chart, saying,\u00a0
\n\u201cNeeds even more Orange.\u201d\u00a0
\nStrategy Bitcoin purchases. Source: X \/ Michael Saylor\u00a0Data from CryptoQuant also shows Bitcoin inflows to accumulation addresses continuing to rise throughout the month.\u00a0
\nBTC: Inflows to accumulation addresses. Source: CryptoQuant\u00a0This 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.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"