Bitcoin (BTC) surged past $88,000 shortly after the Wall Street opening on March 25, fueled by a market keenly responsive to US trade tariff announcements. The price movements indicate a robust sensitivity of risk assets in the current economic climate.
Anticipating an April Comeback
According to data provided by Cointelegraph Markets Pro and TradingView, BTC/USD has held firmly around the daily opening levels, showcasing resilience among traders. The opening of US stocks higher signifies growing investor optimism as market participants recalibrate their outlook amid the global trade situation.
Market experts stated that a notable factor contributing to the recent stabilization of risk assets is the US government’s signals regarding upcoming trade tariffs set to take effect on April 2. Specifically, President Trump’s remarks hinted at possible exemptions or reductions, alleviating some market anxieties.
“Risk assets staged one of their strongest sessions of the year, helped by a temporary easing of fears around the April 2nd tariff deadline,” noted trading firm QCP Capital in a recent communication with subscribers.
Institutional opinions align with QCP’s perspective, with organizations like JPMorgan expressing relief that the worst of the equity market downturn is potentially behind us. Historical patterns indicate that the second quarter—especially April—tends to be one of the strongest periods for risk assets, overshadowed only by the traditional December rally.
“The S&P 500 has delivered an average annualized return of 19.6% in Q2, while Bitcoin has also recorded promising median performance during this period,” QCP further explains.
Facing Down Major Seller Liquidity
As Bitcoin’s price action unfolds, traders have increasingly set their sights on the elusive $90,000 mark. In the backdrop, concerns linger about sell-side liquidity persistently hovering just under this threshold, attributed to a market player known as “Spoofy the Whale”—a trader believed to exert considerable influence on price dynamics.
Popular trader Daan Crypto Trades remarked, “If BTC can maintain its current premium and gradually navigate back into the previous range above $90K, I’m confident we’ll see a movement toward new highs. However, the $90,000 barrier remains formidable.”
Market analysis from CoinGlass confirms that significant selling pressure exists just below $90,000, prompting insights from Keith Alan, co-founder of Material Indicators, who cautioned that the price could stall at around $87,500 without any significant shifts in market sentiment.
Alan emphasized the importance of flipping major levels such as the yearly open above $93,000 to support. Failure to reclaim these levels might risk a potential decline back to multi-month lows.
This 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.
