20 hours ago
Former BitMEX CEO Arthur Hayes, for one, commented on the latest market turmoil and cautioned Bitcoin traders about potential volatility in the coming weeks. In a post on X, Hayes stated, “Market no likey ‘Liberation Day.’ If $BTC can hold $76.5k btw now and US tax day Apr 15, then we are out of the woods. Don’t get chopped up!” Bitcoin’s Recovery Not Yet Confirmed His comments come as Bitcoin’s price dropped toward $82,000 while gold surged past $3,150, reacting to heightened global uncertainty following US President Donald Trump’s sweeping tariff announcements. The Trump administration imposed a 10% tariff on all countries starting April 5, with steeper rates for major economies such as China (34%), the European Union (20%), and Japan (24%). The move, announced during an April 2 speech in the Rose Garden, was accompanied by a national emergency declaration, which further rattled financial markets. The crypto market initially reacted positively to the announcement. However, as the broader implications became clear, prices reversed sharply across the board. Bitcoin rallied to a high of $88,500 before retreating to a low of around $82,200. Meanwhile, Ethereum saw a sharper decline, as it fell from $1,934 to $1,797. During this time, the total crypto market cap dropped by over 5% to $2.7 trillion. The price action, so far, aligns with Glassnode’s analysis which revealed that Bitcoin is starting to show signs of near-term seller exhaustion, but a renewal of sustained bullish momentum, is yet to transpire. The blockchain intelligence form explained that after reaching its $109K peak in January, BTC continues to “digest” the correction, with growing evidence of investor losses being realized. Despite price stabilization within the $76K-$80K demand zone, on-chain momentum indicators suggest that these recoveries could be short-lived and part of a larger downtrend rather than a true market reversal. Avoiding Extended Turbulence Hayes’ latest remarks suggest that Bitcoin’s ability to maintain key support levels until April 15, the US tax deadline, could determine whether the crypto market stabilizes or faces extended turbulence. Interestingly, Hayes recently predicted that Bitcoin could surpass $250,000 by year-end, while citing expanding fiat supply as the key driver. He also said that he anticipates a strong 2025 rally if the US Federal Reserve shifts to quantitative easing (QE), injecting liquidity into the economy. The post Arthur Hayes on Market Chaos: Bitcoin Must Hold This Level Until Tax Day appeared first on CryptoPotato .
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Bitcoin Price Still In Trouble—Why Recovery Remains Elusive
Bitcoin price started a recovery wave from the $81,200 zone. BTC is consolidating losses and facing hurdles near the $83,500 resistance level. Bitcoin started a decent recovery wave above the $82,200 zone. The price is trading below $83,200 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $83,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $83,500 zone. Bitcoin Price Faces Resistance Bitcoin price extended losses below the $82,500 support zone and tested the $81,200 zone. BTC formed a base and recently started a decent recovery wave above the $82,200 resistance zone. The bulls were able to push the price above the $82,500 and $83,000 resistance levels. The price even tested the 23.6% Fib retracement level of the recent decline from the $89,042 swing high to the $81,177 low. However, the price is struggling to continue higher. Bitcoin price is now trading below $83,500 and the 100 hourly Simple moving average . On the upside, immediate resistance is near the $83,200 level. The first key resistance is near the $83,500 level. There is also a connecting bearish trend line forming with resistance at $83,500 on the hourly chart of the BTC/USD pair. The next key resistance could be $84,500. A close above the $84,500 resistance might send the price further higher. In the stated case, the price could rise and test the $85,500 resistance level. Any more gains might send the price toward the $86,000 level or 61.8% Fib retracement level of the recent decline from the $89,042 swing high to the $81,177 low. Another Decline In BTC? If Bitcoin fails to rise above the $83,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,200 level. The first major support is near the $81,200 level. The next support is now near the $80,500 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,800. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $82,200, followed by $81,200. Major Resistance Levels – $83,500 and $85,000. Crypto Potato
Illinois to End Lawsuit Against Coinbase Over Staking Program: Report
The state would become the fourth to withdraw its legal actions against the crypto exchange. Six other cases are pending. Crypto Potato
