Bitcoin is likely to open in a negative direction on the final trading day of the month and could be the worst Q1 since 2018.
BTC is currently down due to traders’ fears over US President Donald Trumps’ new wave of 25% import tariffs. Trump’s constant references to April 2, being a “Liberation DayWhen an apparent numerical for “reciprocal tariffs” This has shook the confidence of traders.
At the time of publishing, stock futures have already slipped into the red, with the DOW futures shedding 206 points and the S&P futures down 0.56%. Bitcoin (as expected) has seen a rise in its price.BTCThe price of the, which moved along with equity markets on 30 March to $81,656, was also lower than it had been for 7 consecutive days.
US futures market performance on 30 March. Source: X / Spencer Hakimian
After a tumultuous month, equities markets look set to close down for the month, with the S&P 500 down 6.3% for the month and the Nasdaq and DOW each registering 8.1% and 5.2% respective losses.
Bitcoins’ steady decline is due to the combination of weak demand for BTC on spot markets as well as traders’ reluctance to enter new BTC contracts.
Last week’s core Personal Consumption Expenditures (PCE) data showed a higher-than-anticipated uptick in inflationThe Conference Board’s March data on consumer confidence showed that the index of monthly confidence, which measures respondents’ expectations for their income, job and business prospects, was at its lowest level in 12 years.
Data on consumer confidence, including current situation and expectations for the future. Source: The Conference Board
Related: Bitcoin bottom ‘likely’ at $80K, opening door for TON, CRO, MNT and RENDER to rally
Goldman Sachs’ recent report has also increased the probability of a 12-month recession from 20% to 35%. Goldman Sachs analyst’s stated:
“The upgrade from our previous 20% estimate reflects our lower growth beeline, the sharp recent deterioration in household and business confidence and statements from White House officials indicating greater willingness to tolerate near-term economic weakness in pursuit of their policies.”
Goldman Sachs has raised the US recession risk. Source: X / Peter Berezin
Can Bitcoin’s negative aspects be viewed as a plus?
While institutional investors have continued to purchase Bitcoin, and the net flow of funds into spot ETFs remains positive, many analysts revised down their optimistic six-figure BTC estimates.
Michael Saylor, CEO of Strategy, spoke to X on March 30. posted The famous Bitcoin orange dots chart.
“Needs even more Orange.”
Strategy Bitcoin purchases. Source: X / Michael Saylor
CryptoQuant’s data shows that Bitcoin flows to accumulation addresses have also continued to grow throughout the entire month.
BTC: Inflows of BTC to accumulation accounts. Source: CryptoQuant
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Source: cointelegraph.com
