Bitcoin’s Wild Ride: How Trump’s Tariff Pause Made Crypto Go Bananas! 🍌💰

by

So, hold onto your hats, folks! Bitcoin just pulled a Houdini and jumped a whopping $9,000 in just 24 hours! 🎩✨ And what was the magic trick? Oh, just President Trump announcing a 90-day pause on tariffs—except for China, which is now getting hit with a 125% levy. Because why not? Let’s keep the drama alive! 🎭

Tariffs pause ignites markets

In a plot twist that even Netflix would envy, Trump’s tariff strategy was squeezing the global economy tighter than my jeans after Thanksgiving dinner. But then, like a superhero in a bad suit, he swoops in with a 90-day tariff pause for everyone except China. Markets reacted like they just found out their favorite show got renewed—S&P 500 up 9.52%, Nasdaq Composite at 12.16%, and Dow Jones at 7.87%. Can I get a “Hallelujah”? 🙌

But wait, are we really done with the tariff terrors? With China still getting the short end of the stick at 125%, it seems like we’re just in intermission of this global trade drama. Grab your popcorn, folks! 🍿

At least for now, we’re getting a break from the barrage of bad news. Trump even took to Truth Social to say, “This is a great time to buy!!!” Because nothing says “financial advice” like a tweet from a former reality TV star! 📱💸

And just three days ago, Larry Fink, the CEO of Blackrock, was all like, “This is a buying opportunity!” I mean, who doesn’t love a good sale? 🛍️

$BTC must still make a higher high

Now, despite Bitcoin’s impressive leap, the short-term chart is like that friend who keeps saying, “I’m fine!” while clearly not being fine. There’s still a long way to go before we can pop the champagne and declare a higher high. 🍾

The price is currently doing the cha-cha back down, possibly retesting the horizontal support. If it plays its cards right, we could see a move up to $86,500. But let’s be real—if it doesn’t, we might be looking at another sad trombone moment. 🎺

Bitcoin bull market still in the balance

Looking at the weekly chart, it’s like watching a tightrope walker—one wrong move and it’s all over! The price is flirting with the descending trendline and hanging on above the 50-week SMA like it’s a lifeline. The RSI indicator is above the all-important 44.00 level, which is like the “you’re still in the game” sign. 🕺

But the Stochastic RSI is looking like it might want to take a nap. So, is there still life in this bull market? Much depends on how the tariff saga unfolds, especially with China. Will Trump pull another rabbit out of his hat? Stay tuned, folks! 🎩🐇

Read More

2025-04-10 13:14