🚨 Bitcoin’s Looming Doom? 🤔

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As I sit here, sipping my tea and pondering the mysteries of the universe, I am reminded that even the mighty Bitcoin is not immune to the whims of fate. Or, in this case, the whims of U.S. tariffs and inflation. 🙄 According to the wise sages at 10x Research, Bitcoin’s price may soon take a precipitous plunge, slipping below the once-vaunted $80,000 mark this very week.

In a market update on X, those prescient analysts cited the looming specter of uncertainty over U.S. tariffs, coupled with the nagging persistence of inflation, as the primary culprits weighing upon Bitcoin (BTC) and the broader financial markets. Because, of course, what’s a little economic turmoil to keep us on our toes? 😒

Their report highlights the unsettling reality of hotter-than-expected U.S. core Personal Consumption Expenditures data, which serves as a stark reminder that inflation remains an unwelcome guest at the economic table. And, to add insult to injury, the mercurial musings of former U.S. President Donald Trump on tariffs have introduced an air of heightened uncertainty, leaving us all to wonder: what’s next? 🤷‍♂️

Tariff Shock and Hot Inflation Data Derail Bitcoin Rally

The Bitcoin rebound over the past three weeks has faltered, as hotter-than-expected core PCE data signaled rising inflation—driven in part by Trump’s tariff implementation— which appears to be weighing on consumer…

— 10x Research (@10x_Research) March 31, 2025 📆

Weak PMI Data: The Other Shoe Drops? 🕴️

10x Research, those masters of the obvious, also pointed out that the upcoming U.S. ISM Manufacturing PMI might just be the catalyst for further downside. Because, you know, a weak PMI would be just the cherry on top of this economic sundae. 🍦 If the data disappoints, risk aversion could spread like wildfire, engulfing the cryptocurrency market in its wake.

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And, to rub salt in the wound, strong employment data may delay any Federal Reserve intervention, effectively dashing hopes of a market rebound. But hey, who needs a rebound when you can have a thrilling game of economic chicken? 🚗

Despite these risks, 10x Research noted that market volatility remains curiously subdued, with the VIX at low levels — a clear indication that traders might be underestimating the potential for further downside. *sigh* Humanity’s capacity for optimism never ceases to amaze. 🙃

In conclusion, with multiple risk-off catalysts lurking in the shadows, Bitcoin’s recent rebound appears about as sturdy as a house of cards in a hurricane. If macroeconomic pressures persist, BTC could face further declines in the coming days. But don’t worry, folks! It’s not like the sky is falling… yet. 🌌

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2025-03-31 17:13