{"id":126256,"date":"2025-04-01T16:17:29","date_gmt":"2025-04-01T16:17:29","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126256"},"modified":"2025-04-01T16:17:29","modified_gmt":"2025-04-01T16:17:29","slug":"bitcoin-price-flips-volatile-as-traders-eye-84-5k-breakout","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126256","title":{"rendered":"Bitcoin price flips volatile as traders eye $84.5K breakout"},"content":{"rendered":"

Source: Cointelegraph.com NewsBitcoin (BTC) repeated earlier volatility at the April 1 Wall Street open as US trade tariff talk kept markets nervous.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView
\nBitcoin stays erratic ahead of crunch tariffs
\nData from Cointelegraph Markets Pro and TradingView showed BTC\/USD making rapid moves within its weekly trading range of around $83,000.
\nUS stocks ticked lower at the open, while gold came off fresh all-time highs of $3,149 per ounce.
\nTalk of recession began to return to the spotlight ahead of US President Donald Trump\u2019s so-called \u201cLiberation Day,\u201d due on April 2 and on which he promised to unveil a new round of trade tariffs.
\n\u201cEquity markets are clearly pricing-in a recession: The S&P 500 is down -2% since Fed rate cuts began in September 2024,\u201d trading resource The Kobeissi Letter wrote in part of an X thread on the topic.
\nKobeissi referred to the Federal Reserve easing of financial policy in the form of interest rate cuts \u2014 something now on pause but which markets see resuming in June, per data from CME Group\u2019s FedWatch Tool.
\nFed target rate probabilities for June 18 FOMC meeting. Source: CME GroupWhile this would be a clear bullish catalyst for crypto and risk assets, Kobeissi noted that history had not favored strong equities rebounds under similar circumstances.
\n\u201cIn the case of rate cuts during a recession, the S&P 500 declined -6% in 6 months -10% within 12 months,\u201d it continued.
\n\u201cThe AVERAGE post-pivot return is +1% in 6 months.\u201d
\nS&P 500 performance comparison. Source: The Kobeissi Letter\/XTrading firm QCP Capital was similarly cautious about the overall market landscape thanks to macroeconomic forces.
\n\u201cWith consumer confidence plumbing 12-year lows and equity markets already rattled by a 4-5% weekly drawdown, the timing couldn’t be worse,\u201d it wrote about tariffs in its latest bulletin to Telegram channel subscribers.\u00a0
\n\u201cThere is a real risk that a broad and aggressive regime could deepen recession fears and send risk assets spiraling. That said, political theatre often leaves room for recalibration. A softer-than-expected rollout could offer markets a brief reprieve.\u201d
\nBTC price action heads to key resistance
\nBTC price action thus left market observers keen for stronger signals over momentum, even as fundamental support at $80,000 held firm.
\nRelated: Bitcoin sellers ‘dry up’ as weekly exchange inflows near 2-year low
\n\u201cSome upside momentum today, but it\u2019s still just a 3-wave move, and resistance is holding strong,\u201d trading channel More Crypto Online\u00a0summarized\u00a0about an Elliott Wave schematic for the 30-minute chart, adding that \u201cthe rally\u2019s got more to prove.\u201d
\nBTC\/USD 30-minute chart. Source: More Crypto Online\/XPopular trader Jelle noted BTC\/USD respecting the 50-week simple moving average (SMA), currently at $76,600, as support.
\nBitcoin, he hoped, would reclaim $84,500 as its next leg up, having rejected there earlier in the day.
\nBTC\/USD 1-week chart with 50SMA. Source: Cointelegraph\/TradingViewQCP meanwhile shared positive news from investors eyeing possible higher levels to come next.
\n\u201cOn our desk, activity was skewed bullish into Asia open,\u201d it reported.\u00a0
\n\u201cBuyers were seen taking topside exposure ($85k-$90k strikes) and selling downside risk ($75k strikes), a potential bet on a firmer start to Q2.\u201d
\nThis 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":"

Source: Cointelegraph.com NewsBitcoin (BTC) repeated earlier volatility at the April 1 Wall Street open as US trade tariff talk kept markets nervous.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView Bitcoin stays erratic ahead… <\/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\/126256"}],"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=126256"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126256\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126256"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}