Source: Cointelegraph Original: "{title}"
Bitcoin broke through $88,000 after the Wall Street opening on March 25, as risk assets remained highly sensitive to U.S. trade tariffs.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Data from Cointelegraph Markets Pro and TradingView shows that BTC/USD fluctuated closely around the opening price of the day.
The U.S. stock market opened slightly higher, continuing the previous rebound trend, bringing a sense of long-awaited optimism to traders.
One of the key factors curbing the decline of risk assets is the U.S. government and President Donald Trump's signals regarding a new round of trade tariffs set to begin on April 2.
"Risk assets experienced one of the strongest trading days of the year, partly due to a temporary easing of concerns surrounding the April 2 tariff deadline," trading firm QCP Capital summarized in its latest announcement to Telegram channel subscribers.
"Trump stated twice on Monday that trade partners might have opportunities for tariff exemptions or reductions, which temporarily alleviated market tensions."
BTC/USD vs. S&P 500 1-day chart. Source: Cointelegraph/TradingView
QCP noted that other institutions, including JPMorgan, also began to believe that the worst moments for the stock market were over.
"The second quarter, especially April, has historically been one of the best-performing periods for risk assets, second only to the December holiday rebound," QCP added.
"The average annualized return of the S&P 500 in the second quarter is 19.6%, while Bitcoin's performance during this period also recorded the second-best median performance—again, only behind the fourth quarter."
BTC/USD monthly return rate (screenshot). Source: CoinGlass
As reported by Cointelegraph, given the historically strong price performance, market participants are also filled with expectations for Bitcoin (BTC) performance in April.
According to monitoring resource CoinGlass, Bitcoin (BTC/USD) has an average return rate of nearly 13% in March and April over the past eleven years.
When analyzing short-term Bitcoin (BTC) price trends, traders are increasingly focused on the $90,000 threshold for the day.
"Bitcoin is still trading at a solid premium during this rebound," noted prominent trader Daan Crypto Trades in his recent X post.
BTC/USD 1-day chart, based on perps. Source: Daan Crypto Trades/X
Meanwhile, CoinGlass data shows that there is persistent selling liquidity just below the $90,000 price level—this phenomenon has previously been attributed to market manipulation by a high-volume trader known as "Spoofy the Whale."
Keith Alan, co-founder of trading resource Material Indicators, who coined this term, stated that due to the operations of this entity alone, the price will continue to be trapped around $87,500.
BTC liquidation heatmap (screenshot). Source: CoinGlass
This week, Alan indicated that another important support level is the year-to-date opening price, around $93,000. He warned that failure to break through this level could still trigger a pullback to lows not seen in months.
Related: GameStop hints at potential future Bitcoin (BTC) purchases after board approval
This article does not contain investment advice or recommendations. Every investment and trading operation involves risks, and readers should conduct their own research when making decisions.
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