Bitcoin Faces Downward Pressure Amid Economic Uncertainty
Bitcoin’s struggle to regain momentum continues as it faces multiple headwinds, including economic slowdown and inflationary pressures. Despite a brief rebound, the cryptocurrency remains vulnerable to further declines.
Bitcoin Struggles to Regain Traction
Bitcoin bounced from a new five-month low on Monday due to broader risk aversion stemming from tariff impact fears. Although it briefly surpassed the psychological 80K resistance, a firm break higher is needed to offset last week’s negative signal. The near-term focus remains shifted to the downside as technical studies are bearish on the daily chart, and fundamentals continue to weigh, including economic slowdown and higher inflation as major consequences of trade war escalation. Bears are eyeing pivotal support at 73618; a violation of this level could further weaken the near-term structure and expose the psychological 70K support. Conversely, a close above 80K would ease immediate downside pressure, but more upside progress is still required.
Bitcoin Price Volatility and Strategy’s Halt in BTC Purchases
Bitcoin price settled at $79,000 after volatile trading saw it plunge to a new 2025 low of around $74,500. Crypto analyst Walter Bloomberg noted that Strategy has conspicuously paused BTC purchases since March 31, amid the downturn. Bitcoin critic Peter Schiff warned Michael Saylor of a potential drop towards Saylor’s average cost at $68,000, further fueling bearish sentiment.
New Bitcoin Whales Emerge Amid Market Volatility
Bitcoin has lost the key $81,000 support, fueling bearish momentum across the crypto market. The broader financial landscape remains volatile due to trade war fears and macroeconomic uncertainty. Despite this, 76 new entities holding over 1,000 BTC have joined the network in the past two months, indicating that some long-term players still see value in Bitcoin at current levels.
Bitcoin’s Textbook Elliott Wave Movement
Bitcoin’s move from 88K to 74,415 was a predicted Elliott Wave thrust. Our 19th March 2025 update highlighted a Triangle pattern for Wave-4, which completed in near-perfect order with Waves C, D, and E. The price slipped towards the 75K zone, a level mapped as part of our Wave-5 downside target. The bearish move hit right on target, resulting in a sharp bullish reversal from the same zone.
Crypto Analyst Warns of Potential 60% Bitcoin Price Crash to $49,000
Crypto analyst Melika Trader has warned that a volume drop could trigger a significant 60% price crash in Bitcoin, potentially dropping its value to $49,000. In a TradingView post, the analyst detailed how BTC is hovering above a crucial support zone, which many traders recognize as the most important from a volume perspective on Binance. The chart provided showed that a drop below the former trend line at $75,000 could lead to such a steep decline. Additionally, Bitcoin has already lost critical support at around $83,000, increasing the risk of a further downturn.
Cryptocurrencies Price Prediction: BTC American Wrap 07 April
Bitcoin (BTC) hovered around $79,000 during the American trading session on Monday after a volatile weekend saw the flagship cryptocurrency dip to fresh 2025 lows NEAR $74,500. Amid the downturn, Strategy’s inactivity in BTC acquisitions and prickly remarks from Bitcoin-critic Peter Schiff further fuel bearish sentiment. Strategy didn’t add Bitcoin last week and expects to book a $6 billion loss on holdings in Q1 due to a $5.91 billion unrealized loss on its bitcoin holdings.
