Bitcoin Stands Firm Amid Market Turbulence
As traditional risk assets experience significant volatility, Bitcoin emerges as a stable force in the financial market, sparking new discussions about its role and potential.
Bitcoin Ditches The Pack: Risk Assets Down, BTC Holds Steady
Despite a massive sell-off in US stocks last week, which saw the market lose $2.85 trillion on April 3 and another $3.25 trillion by the end of Friday, Bitcoin maintained its price above $80,000. This sparked debate about Bitcoin’s changing relationship with traditional risk assets. While stocks tumbled in response to President Trump’s tariff increases, Bitcoin remained stable and even saw price increases, currently priced at $83,205, showing a 1.3% increase over the past week.
Altseason Dead On Arrival? Bitcoin Outperforming All Categories
The first quarter of 2025 was expected to bring the altcoin season, but the story has been different. Most large-cap assets have not seen the same capital rotation as in past cycles. On-chain data shows that Bitcoin has continued to dominate, outperforming all categories of altcoins. Pseudonymous analyst Darkfost shared an interesting on-chain insight into the performance of altcoins relative to Bitcoin on April 5.
Bitcoin Forms Triangular Pattern, May Rally to $95,267
Crypto analyst Ali Martinez shared data showing that Bitcoin (BTC) is currently consolidating within an ascending triangle pattern, laying the foundation for a potential 15% move. Such correction establishments often land in an upside breakout, preparing the way for a likely 15% jump according to Martinez.
Crypto Investors React to Trump’s Tariffs Announcement
The trade tariffs confirmation announcement by United States President Donald Trump on April 2 triggered a sell-off in the crypto market. Investors scrambled to transfer their BTC to crypto exchanges, with a single Bitcoin block recording as much as 2,500 BTC and Coinbase witnessing a significant spike in BTC deposits from large holders. Bearish conditions have persisted since then.
Bitcoin Experiences Oversold Bounce, Signifying Potential for Another Rally
Bitcoin ($BTC) has recently bounced back from the oversold zones. According to crypto analyst Javon Marks, Bitcoin’s rebound from these areas could lead to another bull run. Marks pointed out that nearly every time Bitcoin’s Wave Trend Oscillator reached and bounced from oversold areas in this cycle, prices followed with a major run into new highs. Recently, prices have again bounced from oversold areas, indicating a likely major run to new highs.
