Bitcoin targets $71K as US tariffs hit rare business outlook.

BitcoinBTCThe US economy sees a similar bear market to that of 2022. “very high risk” Coming soon

He is a latest analysisCharles Edwards was asked by Capriole Investments (a quantitative Bitcoin fund) when the US will start printing its own money.

“Higher than expected” US tariffs pressure Bitcoin

Bitcoin reacts noticeably worse Stocks in the US have fallen since President Donald Trump announced on April 2 worldwide trade tariffs.

BTC/USD fell up to 8.5% on the day, while the S&P 500 managed to end the Wall Street trading session 0.7% higher.

Edwards points out that despite this, US business expectations reflect an uncertainty level seen just three other times since the beginning of the new millennium.

“Consider this as tariffs come in higher than expected. The Philly Fed Business Outlook survey is showing expectations today comparable to 2000, 2008 and 2022,” He told X of his followers.

A chart with the accompanying data showed the Philadelphia Fed Business Outlook Survey’s (BOS) index back under 15, for the first since the beginning of 2024. The most recent bear market in crypto occurred late 2022 when BTC/USD was at its lowest. reversed at $15,600.

The latest Capriole market update Edwards admitted on March 31 that BOS can provide unreliable indicators of market sentiment, but said that they should not be ignored.

“While no guarantee of the future outlook (this metric does have false signals) this is a data reading we have had before at very high risk zones (year 2000, 2008 and 2022), telling us to keep a very open mind,” He has written. 

“Especially if the tariff war escalates significantly beyond current expectations or corporate margins start to fall.”

The key Bitcoin level in the wake of the US tariffs is $91,000. Capriole believes that US macroeconomic decisions would have a significant impact on Bitcoin. “decide the ultimate technical trend from here.”

“All else equal, a daily close above $91K would be a strong bullish reclaim signal,” The weekly BTC/USD charts are shown with the latest update. 

“Failing that, a dip into the $71K zone would likely see a sizable bounce.”

BTC Price Focus on US Liquidity Trend

You can also read about the advantages of using Cointelegraph reportedThe increase in global liquidity could provide a silver-lining for risk and crypto assets.

Related: Bitcoin sales at $109K all-time high ‘significantly below’ cycle tops — Glassnode

Fed already has a presence in the US begun to loosen Bets vary on the return of so-called Quantitative Easing (QE).

“How long until the Powell printer starts humming?” Edwards queried.

The M2 Money Supply is also due to be announced. “influx” — something which has historically spawned major BTC price upside.

“The BIG take-away (the most important observation) is that a big M2 influx is coming. The exact date is less important,” Colin Talks, a popular analyst who predicts in an X thread This week.

The chart compared to the previous one hinted that BTC could rebound at the beginning of May.

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.