In a twist of economic fate, the grandiose edifice of Bitcoin, once thought unshakeable, now quivers under the weight of President Trump’s tariff bombshell. As the digital market trembled and investors scattered like quail, the mighty BTC sank beneath the waves, down a whopping 6%, like a lead balloon in the crypto sea. ππ
Oh, the humanity! Or should I say, the digitality? The tariff announcement, a veritable economic thunderbolt, has left poor Bitcoin bereft of its former support, now a mere shadow of its former self. China, the EU, and Japan, all smacked with their respective tariffs, and poor BTC, left holding the bag. π’οΈπ§οΈ
Technical Woes and Bearish Blues
Technical analysts, those seers of the digital realm, have spoken: Bitcoin has lost its $82,500 support level faster than you can say ‘crypto crash’. It has tumbled below the 200-day Exponential Moving Average (EMA), a sure sign that the bear is growling and ready to feast. π»π½οΈ
If the daily candle closes below $81,500, a level as elusive as a leprechaun’s gold, we may witness a descent into the abyss, potentially hitting $77,700 or even the depths below. Pray, Bitcoin, hold on to your digital hat! π©π
And it’s not just Bitcoin that’s feeling the pinch; Ethereum, Solana, and XRP have all taken a tumble, their prices falling faster than a clown’s pants. Meanwhile, BTC hovers near $81,750, drawing the eyes of traders and investors like moths to a crypto flame, with trading volumes soaring to the heavens. ππ
The Great BTC Sell-Off: A Panic Unleashed
In the wake of this market maelstrom, short-term holders have abandoned ship like rats from a sinking crypto vessel. A certain crypto savant took to X (the newfangled bird of the digital age) to squawk about the 18,930 BTC sold in a frenzy, as if the coins were on fire! π₯π¦
18,930 #Bitcoin $BTC were sold by short-term holders last night, immediately after @realDonaldTrump announced new tariffs!
β Ali (@ali_charts) April 3, 2025
It seems the crypto sky is indeed falling, and BTC may be in for a bumpy ride. Fasten your seatbelts, folks, it’s going to be a wild one! π’πͺοΈ
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2025-04-03 19:10