{"id":126730,"date":"2025-04-08T18:15:49","date_gmt":"2025-04-08T18:15:49","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126730"},"modified":"2025-04-08T18:15:49","modified_gmt":"2025-04-08T18:15:49","slug":"bitcoin-relief-rally-fizzles-as-white-house-confirms-104-china-tariffs-will-btc-fall-to-new-lows","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126730","title":{"rendered":"Bitcoin relief rally fizzles as White House confirms 104% China tariffs \u2014 Will BTC fall to new lows?"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin\u2019s surprise rebound to $81,180 \u2014 which was influenced by fake news regarding a pause on US tariffs \u2014 has all but evaporated following White House confirmation that 104% tariffs on China will start on April 9.S&amp;P 500 drops intra-day gains follow White House tariff confirmation. Source: X \/ Kobeissi Letter<br \/>\nAfter dropping below the $75,000 level for the first time since Nov. 6, 2024, BTC retested a key demand zone that traders hope will provide a safe haven for the bulls.<br \/>\nThe safe haven is a fair value gap located between $77,000 and $73,400, and this zone was created during the November 2024 Trump pump.<br \/>\nBTC\/USD daily chart. Source: Cointelegraph\/TradingViewMN Capital founder Michael van de Poppe had earlier asserted that Bitcoin needed to retest this zone \u201cbefore going back upward.\u201d<br \/>\n\u201cBitcoin attacking $80,000 is a strong sign,\u201d said van de Poppe in another X post on April 8, adding:<br \/>\n\u201cI don\u2019t know whether we\u2019ll be having another drop or whether we\u2019ve seen it all.\u201d<br \/>\nBTC\/USD daily chart. Source: Michael van de PoppeFellow analyst Jelle shared similar sentiments, saying that Bitcoin\u2019s close above $79,000 on April 7 after dropping as low as $74,400 was impressive compared to how equities performed.<br \/>\n\u201cWaiting for the dust to settle &#8211; expecting the price to move higher once that happens.\u201d<br \/>\nRelated: Bitcoin may rival gold as inflation hedge over next decade \u2014 Adam Back<br \/>\nBitcoin\u2019s long-term holders\u2019 activity spells doom for BTC price<br \/>\nData from onchain analytics platform CryptoQuant now shows that the long-term holders (LTHs) \u2014 individuals and entities who have held Bitcoin for more than 155 days \u2014 could be preparing to sell their coins, particularly after the latest crash.<br \/>\nThe Exchange Inflow Coin Days Destroyed (CDD) metric measures the volume of Bitcoin moved to exchanges, weighted by how long those coins were held dormant, indicating potential selling pressure from long-term holders.<br \/>\nThere was a massive spike in this metric on April 7, signaling that the old coins are waking up, which is historically a bearish sign.\u00a0<br \/>\nA chart posted by a CryptoQuant contributor, IT Tech, in one of its \u201cQuicktake\u201d blog posts showed that when the metric spiked on April 2, Bitcoin price dropped from $88,000 to $81,000.<br \/>\nA similar spike was seen on March 27, preceding a 7% drop in price over two days.<br \/>\nSpotting a similar spike on April 7, the analyst wondered if Bitcoin\u2019s long-term holders were \u201cpreparing to sell again?\u201d<br \/>\nBitcoin: Exchange Inflow CDD. Source: CryptoQuantIf history repeats itself, Bitcoin\u2019s sell-off could continue for a few more days, with the March 2024 all-time high near $74,000 presenting the first line of defense.<br \/>\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.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-relief-rally-fizzles-as-white-house-confirms-104-china-tariffs-will-btc-fall-to-new-lows?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\u2019s surprise rebound to $81,180 \u2014 which was influenced by fake news regarding a pause on US tariffs \u2014 has all but evaporated following White House confirmation that&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\/126730"}],"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=126730"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126730\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126730"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}