Bitcoin Bulls defends the support of $ 80K because ‘World War 3 of trade wars’ crushed US stocks
Bitcoin (Btc) The price has dodged the chaotic volatility crushed markets of equities on April 4 Wall Street open by handling above the $ 82,000 level.
BTC/USD 1-Hour chart. Source: Cointelegraph/TradingView
US Stocks Notch Record Losses as analysts predict “Long Trade War”
Data from Cointelegraph Markets Pro and Tradingview Showing false moves in Bitcoin’s lower timeframes as a sun -high -up -to -$ 84,700 evaporation while BTC price dropped $ 2,500 with the start of the US trading session in the US.
Fear of a prolonged US trade war and subsequently backward Fueled Market Downsidewith the S&P 500 and Nasdaq Composite Index both falling another 3.5% after tomorrow.
S&P 500 1-day chart. Source: Cointelegraph/TradingView
As the market continues to cover, the trade source is described by the Kobeissi letter of the tariffs as the start of “World War 3” of trade wars. “
BREAKING: President Trump just now, “we can’t lose !!!”
A long trade war ahead of us. https://t.co/babi1cf5wi pic.twitter.com/6kcshp0a8v
– The Kobeissi letter (@KobeissileTter) April 4, 2025
“The two -day losses in the S&P 500 exceed -8% for a total -$ 3.5 trillion on the market cap. This is the largest 2 -day fall since Pandmia in 2020,” this reported.
NASDAQ 100 has made history the day before, recorded the biggest loss of score points ever.
The latest data of US jobs in the form of March Nonfarm Payrolls print, which beat expectations, disappears in insignificance in the panic markets.
Expectations in the interest rate cuts from the federal reserve however higher, with odds for such a move to come to May Fed meeting 40%, per data from CME Group’s Fedwatch tool.
Fed target rate probability comparison for May FOMC meeting. Source: CME Group
Bitcoins cling to support more than $ 80,000
As Bitcoin managed to avoid a major collapse, market commentators sought confirmation of the underlying BTC price strength.
Related: ‘Bitcoin Sellers’ Dry Up’ as weekly exchange inflows near 2-year low
For popular entrepreneurs and analyst rectual capital, longer hints remained encouraging.
Bitcoin has recovered and at the cusp of filling recently formed CME gap$ Btc #Crypto #Bitcoin https://t.co/ZDVSF6LDCZ pic.twitter.com/psbaesmqny
– Rect Capital (@rectcapital) April 4, 2025
“Bitcoin is also potentially developing early signs of a brand newly enlarged bullish change,” he continuedLooking at the behavior of the relative index (RSI) strength in the sun -day chart.
“Double down on price action Meanwhile, the RSI will develop higher lows. $ 82,400 will have to continue handling as support.”
BTC/USD 1-day chart with RSI data. Source: Rek Capital/X.
Businessman Cas Abbe was also observed by somewhat elastic trade in Bitcoin in the middle of the Asset-Asset route.
“It didn’t hit a new low yesterday despite the stock market with the worst days in 5 years,” he mentioned to followers of x.
“Historically, the BTC is always going down before the stock market so expect $ 76.5K underneath. Now, I’m waiting for a recurrence above the $ 86.5K level for more upward continuity.”
BTC/USDT Perpetual Futures 1-Day Chart. Source: cas abbe/x
Earlier, Cointelegraph reported to targets under BTC prices today including old all-time highs of $ 69,000 from 2021.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
