Bitcoin price flips volatile as traders eye $84.5K breakout

BitcoinBTCThe Wall Street opening on April 1, 2018 was volatile as the US tariff talks kept market participants nervous.

Bitcoin is volatile ahead of the impending tariffs

Data from Cointelegraph Markets Pro You can also find out more about the following: TradingView BTC/USD made rapid movements within its weekly range trading of approximately $83,000.

US stocks opened lower, but gold fell from its new all-time record high of $3149 an ounce.

The topic of recession has returned to the forefront of public discourse ahead of Donald Trump’s “America First” speech. “Liberation Day,” Due on April 2, and he has promised to reveal a new set of tariffs.

“Equity markets are clearly pricing-in a recession: The S&P 500 is down -2% since Fed rate cuts began in September 2024,” The Kobeissi Letter, written as part of a trade resource X thread Topics to consider

Kobeissi referred to the Federal Reserve easing of financial policy in the form of interest rate cuts — something now on pause but which markets see resuming in JuneCME Group Data FedWatch Tool.

Kobeissi pointed out that while this could be seen as a bullish catalyst in the crypto-assets and risky assets, history has not been favorable to strong equity rebounds when similar conditions were present.

“In the case of rate cuts during a recession, the S&P 500 declined -6% in 6 months -10% within 12 months,” It continued.

“The AVERAGE post-pivot return is +1% in 6 months.”

QCP Capital also remained cautious due to the macroeconomic forces.

“With consumer confidence plumbing 12-year lows and equity markets already rattled by a 4-5% weekly drawdown, the timing couldn’t be worse,” It wrote about the tariffs in its most recent bulletin for Telegram subscribers. 

“There is a real risk that a broad and aggressive regime could deepen recession fears and send risk assets spiraling. That said, political theatre often leaves room for recalibration. A softer-than-expected rollout could offer markets a brief reprieve.”

BTC prices head to key resistance

BTC prices have left the market watching for more signs of momentum, despite fundamental support remaining at $80,00.

Related: Bitcoin sellers ‘dry up’ as weekly exchange inflows near 2-year low

“Some upside momentum today, but it’s still just a 3-wave move, and resistance is holding strong,” trading channel More Crypto Online summarized About an Elliott Wave The 30-minute chart is a schematic diagram. “the rally’s got more to prove.”

Jelle is a well-known trader who noted BTC/USD respecting 50-week simple moving Average (SMA) currently sitting at $76,600 as support.

He Bitcoin hopedAfter rejecting earlier that day,, would claim $84,500 for its next step.

QCP has also received positive feedback from investors who are looking forward to possible future increases in the market.

“On our desk, activity was skewed bullish into Asia open,” It reported. 

“Buyers were seen taking topside exposure ($85k-$90k strikes) and selling downside risk ($75k strikes), a potential bet on a firmer start to Q2.”

This article contains no investment recommendations or advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.