Bitcoin Faces ’Death Cross’ as Market Reacts to New Tariffs

Amidst global market turmoil triggered by new US tariffs, Bitcoin has shown a concerning ’Death Cross’ pattern, signaling potential further declines. This article delves into the recent market reactions and what lies ahead for cryptocurrencies.

Bitcoin Flashes ‘Death Cross’ Amid Tariff-Induced Market Turmoil

The global equity and cryptocurrency markets experienced significant downturns today due to US President Donald Trump’s country-specific reciprocal tariffs set to take effect on April 9. Bitcoin (BTC) declined by more than 7% in the past 24 hours, and analysts predict further near-term challenges for the digital asset. Trump’s baseline 10% tariffs on all countries went into effect on April 5, raising fears of a global recession and widespread job losses. The digital assets market has felt the impact, with BTC slipping over 7%.

Arthur Hayes Bets on Bitcoin as Dominance Nears 70%, Altcoins Struggle

Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, has been buying Bitcoin (BTC), expecting its dominance to reach 70 percent. He announced on X that he has been picking BTC all day and will continue to do so. Bitcoin’s dominance has hit its highest level since 2020, showing investor preference for BTC. Hayes has no interest in investing in altcoins, describing them as the ’shitcoin supermarket’ and citing money printing as the only policy option available to those in power.

Bitcoin’s road to $75K – Is crypto’s latest dip a bear trap?

Bitcoin lost its key support level, causing an 8.66% pullback, retesting sub-$80k levels. $1.30 billion in liquidations swept the market. 478k addresses hovered NEAR breakeven at $78,981, while 5.94 million wallets cashed out profits from $61,129. Despite this, a rising bid-ask ratio and steady retail long positions at 73% suggest increasing buy-side interest.

Is Bitcoin Bull Cycle Over? Analyst Provides Counterpoint.

The CEO at on-chain analytics firm CryptoQuant has declared the end of the Bitcoin bull cycle, citing data from the Realized Cap. The Realized Cap is an on-chain capitalization model that measures the sum of the cost basis of all coins in circulation. However, another analyst has provided a counterpoint to this declaration.

Bitcoin Slides, Short-Term Holders Under Pressure

Bitcoin has dropped by more than 10% over the past two weeks, slipping under $75,000 due to global tariff disputes and broader market volatility. A crypto analyst suggests that the behavior of short-term holders is crucial in assessing market corrections, with current price action revealing signs of stress among this group. The pullback coincides with rising geopolitical and economic uncertainty.