{"id":126724,"date":"2025-04-08T16:15:29","date_gmt":"2025-04-08T16:15:29","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126724"},"modified":"2025-04-08T16:15:29","modified_gmt":"2025-04-08T16:15:29","slug":"bitcoin-rebounds-as-traders-spot-china-weaker-yuan-chart-but-us-trade-war-caps-80k-btc-rally","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126724","title":{"rendered":"Bitcoin rebounds as traders spot China \u2018weaker yuan\u2019 chart, but US trade war caps $80K BTC rally"},"content":{"rendered":"

Source: Cointelegraph.com NewsBitcoin (BTC) danced around $80,000 at the April 8 Wall Street open as US stock markets staged a fresh recovery, but unresolved tensions between China and the US continue to put a damper on BTC\u2019s upside. BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView
\nHayes: Bitcoin can repeat historic China inflows
\nData from Cointelegraph Markets Pro and TradingView showed BTC price volatility cooling while the S&P 500 and Nasdaq Composite Index gained up to 4.3% in the first few hours of trading.
\nStocks built on a strong rebound that had accompanied the start of the week\u2019s TradFi trading, alleviating fears of a 1987 \u201cBlack Monday\u201d style crash.\u00a0
\nUS trade tariffs nonetheless stayed top of the agenda for traders, who in particular eyed the ongoing war of words with China.
\nIn a post on Truth Social, US President Donald Trump claimed that Beijing \u201cwants to make a deal, badly, but they don’t know how to get it started.\u201d
\n\u201cWe are waiting for their call,\u201d he told readers.
\nSource: Truth SocialBitcoin advocates eyed the devaluation of the yuan as part of China\u2019s tariff response and the potential inflows to hedges such as BTC as a result.
\n\u201cXi’s major weapon is independent monetary policy which necessitates a weaker yuan,\u201d Arthur Hayes, ex-CEO of crypto exchange BitMEX, wrote in part of X coverage of the topic.
\nHayes suggested that either the People\u2019s Bank of China (PBoC) or the US Federal Reserve would ultimately provide the fuel for a BTC price rally.
\n\u201cIf not the Fed then the PBOC will give us the yachtzee ingredients,\u201d he argued in his characteristic style.\u00a0
\n\u201cCNY deval = narrative that Chinese capital flight will flow into $BTC. It worked in 2013 , 2015, and can work in 2025. Ignore China at your own peril.\u201d
\nUSD\/CNY 3-day chart. Source: Cointelelgraph\/TradingViewThe Fed, meanwhile, could boost Bitcoin and risk assets by lowering interest rates to stimulate growth. In a blog post on the day, AllianceBernstein predicted this happening even as tariffs added to inflationary pressures.
\n\u201cIf the economy slows, as we expect it will, the Fed will be inclined to cut rates even if price levels are high,\u201d Eric Winograd, the firm\u2019s Developed Market Economic Research director wrote.\u00a0
\n\u201cThe view is that actual inflation tells us what the economy was doing but not what it will do. The Fed has cut rates before with inflation elevated, and we expect it to do so again unless\u2014a very big \u2018unless\u2019\u2014inflation expectations become unanchored.\u201d
\nFed target rate probabilities (screenshot). Source: CME GroupWinograd said that AllianceBernstein expected 75 basis points of rate cuts in 2025, with the latest data from CME Group\u2019s FedWatch Tool showing markets betting on the first of these coming at the Fed\u2019s June meeting.
\nRelated: $2T fake tariff news pump shows \u2018market is ready to ape\u2019
\nFibonacci offers a \u201cbig level to watch\u201d for BTC price
\nConsidering the global market tumult of the last three days, Bitcoin\u2019s price action has remained eerily cool on the shorter timeframes as snap price moves gave way to consolidation.
\nFor traders, among the key levels to watch was the 0.382 Fibonacci retracement level, currently near $73,500.
\n\u201cIn a bull market, the 38.2% Fibonacci retracement acts as key support,\u201d popular trader Titan of Crypto explained, describing BTC\/USD as \u201cin a reversal zone.\u201d
\n\u201cAs long as BTC closes above it, the uptrend remains intact, even with a wick below.\u201d
\nBTC\/USD 1-month chart with Fibonacci levels. Source: Titan of Crypto\/XFellow trader Daan Crypto Trades also underscored the level\u2019s potential significance, with it coinciding with old all-time highs from March 2024.
\n\u201c$BTC Has respected its .382 Fibonacci retracements, measured from the cycle bottom to the local tops, quite well so far,\u201d he told X followers.\u00a0
\n\u201cThis is the 3rd time we get such a test this cycle. This time we got some confluence from the 2024 highs as well. Big level to watch.\u201d
\nOther important trend lines, as Cointelegraph reported, include the 200-day simple moving average (SMA), a classic bull market support line that was lost when BTC first fell below $82,000.
\nBTC\/USD 1-day chart with 200 SMA. 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.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsBitcoin (BTC) danced around $80,000 at the April 8 Wall Street open as US stock markets staged a fresh recovery, but unresolved tensions between China and the US… <\/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\/126724"}],"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=126724"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126724\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126724"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}