Trust is a good thing
Editorial policy is strict and focuses on accuracy. Relevance, and neutrality.
Expertly crafted by experts in the industry and thoroughly reviewed
Highest standards of reporting and publication
Editorial policy with a strict focus on accuracy, relevance and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
A recent study suggests that report 10X Research believes that Bitcoin (BTC), may be trying to reach a bottom locally, since US President Donald Trump will likely soften his position on the reciprocal tariffs, set to take effect in April.
Only Bitcoin?
Bitcoin’s fall to $77,000 in March may have been the lowest point for Bitcoin during the current market cycle. Since then the digital asset is up by 10% and currently trades in the $80,000-$90,000 range.
Related Reading
Trump’s pivot to the right in recent months is reflected by a report from 10X Research. “flexibility” Some concerns over a further decline in global macroeconomic prospects may have been eased by the announcement of the April 2, 2019 reciprocal trade duties.
The report highlights comments made by the US Federal Reserve following its meeting of this month’s Federal Open Market Committee. In these remarks, the Fed indicated that they would be slowing the pace at which their balance sheets are being reduced and ending the current cycle quantitative tightening.
Fed comments followed. release The Consumer Price Index data for February 2025 was in line with the expectations and eased concerns over inflation. According to the report, BTC’s recent bottom is in line with crypto-entrepreneur Arthur Hayes. statementIn which he stated that BTC might have “probably” bottomed at $77,000.
Chart 1 shows the bullish reverse in BTC’s moving average of 21 days, which is currently $85,200. Reports point out that weekly signs of reversal are at the levels usually seen after bull markets resume.
In September 2023 for example, BTC gained momentum due to the narrative of Bitcoin ETFs. BTC experienced an historic rally when the US presidential elections were approaching in 2024.
Unsurprisingly, the latest post Ali Martinez, a seasoned crypto-analyst who writes for on X highlights the fact that Bitcoin transaction charges have tripled within ten days. The increase is indicative of an improvement in market sentiment.
BTC is still not completely bullish
BTC needs to maintain certain levels of price and break past them to gain strong bullish momentum.
Related Reading
Martinez, Recent Analysis identified BTC must surpass $94,000. This level could rise to $112,000, if the digital asset breaks it and holds on.
What I said concerns remain BTC has a relatively poor price performance when compared with other assets that are considered safe havens, such as gold. BTC was trading at $88,650 as of press time. This is an increase of 3.6% over the last 24 hours.
Images from Unsplash and charts from TradingView.com.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com
