empty
03.04.2025 11:36 AM
Bitcoin again loses battle

Both Bitcoin and Ethereum asserted their strength for a while yesterday in the midst of the US session before Trump's statements and the introduction of tariffs. However, demand for risk assets subsequently decreased. Although the tariffs are unlikely to have a significant impact on the crypto market, traders rushed to lock in profits, once again failing to implement strategies to break through the major resistance at $90,000. Such erratic regular sell-offs limit further medium-term bullish momentum for Bitcoin.

This image is no longer relevant

The sharp decline in US stock indices entailed a fall in cryptocurrencies as well. Investors, concerned about the prospects of a tighter monetary policy by the Federal Reserve and the likelihood of renewed inflation after the tariffs were introduced, began shedding risk assets, including technology stocks and digital currencies. Experts attribute this to the fact that many institutional investors who had previously invested in cryptocurrencies view them as highly speculative instruments and are the first to withdraw funds when market conditions worsen.

Despite the decline, cryptocurrency advocates argue that this is a temporary correction and that digital assets will continue to grow in the long term. However, the impact of macroeconomic factors on the cryptocurrency market is becoming more evident. Investors increasingly view cryptocurrencies as part of a global investment portfolio, making them more sensitive to geopolitical events and changes in the economic policies of major countries.

However, despite short-term fluctuations, the long-term outlook for the cryptocurrency market remains positive. Strengthening infrastructure, the increasing number of crypto investors, and the development of new blockchain technology applications encourage interest in digital assets. Furthermore, regulatory uncertainty is gradually being replaced by clearer rules, which encourages institutional investors. The Trump administration has already done a great deal in this direction, further boosting investor confidence in the new realm of digital assets.

This image is no longer relevant

As for the technical picture of Bitcoin, buyers are currently aiming for a return to the $83,600 level, which would open the direct path to $84,300. From there, the $85,200 level will be around the corner. The furthest target would be the high near $86,100. Overcoming this level would signal a return to a bullish market. In case of a drop in Bitcoin, buyers are expected at the $82,700 level. If the trading instrument settles below this area, it could quickly push BTC down to the $81,900 region. The furthest target would be the $81,000 area.

This image is no longer relevant

As for Ethereum's technical picture, a clear consolidation above the $1,847 level opens the direct path to $1,888. The furthest target would be the high near $1,928. Once this level is overcome, it would signal a return to a bullish market. In case of a decline in Ethereum, buyers are expected at the $1,806 level. A return of the trading instrument below this area could quickly push ETH down to the $1,773 region. The lowest target would be the $1,740 area.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading tips for crypto market on May 20 (North American session)

Bitcoin and Ether performed well today in terms of buying following a pause in yesterday's bear market. Demand has returned to the cryptocurrency market, especially after geopolitical tensions eased somewhat

Miroslaw Bawulski 16:20 2025-06-20 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 20

Bitcoin continued trading within a sideways channel, dropping to the $104,000 area yesterday before recovering to a more acceptable level of $104,500. Ethereum also showed no clear directional movement. Despite

Miroslaw Bawulski 09:24 2025-06-20 UTC+2

Technical Analysis of Intraday Price Movement of Ripple Cryptocurrency, Friday June 20, 2025.

The Ripple cryptocurrency on its 4-hour chart appears to be moving in a ranging - sideways condition where it is currently stuck at the Support Bullish Rejection Block area level

Arief Makmur 07:45 2025-06-20 UTC+2

Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday June 20, 2025.

From what is seen on the 4-hour chart, the Doge cryptocurrency appears to be moving under a Bearish bias, where this can be seen from its price movement which

Arief Makmur 07:45 2025-06-20 UTC+2

BTC/USD Analysis on June 19, 2025

The wave pattern on the 4-hour BTC/USD chart has become more complex in recent months. A corrective downward structure formed and completed near the $75,000 level. After that, a fairly

Chin Zhao 11:07 2025-06-19 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 19

Yesterday, Bitcoin and Ethereum remained under pressure, failing to receive support from major players despite attempts to break through key resistance levels. After dipping to around $130,400, Bitcoin is currently

Miroslaw Bawulski 08:36 2025-06-19 UTC+2

Wave analysis of BTC/USD on June 18. Bitcoin to clear up its overall impulse

The wave pattern on the 4-hour chart of BTC/USD has become more complicated in recent months. We observed a corrective downward structure that completed near the $75,000 mark. After that

Chin Zhao 15:34 2025-06-18 UTC+2

Middle East Tensions and U.S. Involvement Trigger Crypto Market Sell-Off

Bitcoin came under significant pressure yesterday following the escalation of tensions in the Middle East. The likelihood of U.S. involvement in a military conflict has increased significantly, which puts pressure

Jakub Novak 11:41 2025-06-18 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 18

Bitcoin and Ethereum plunged following the latest escalation in the Middle East and the increasing likelihood that the United States will be drawn into the conflict. Bitcoin dropped from $107,600

Miroslaw Bawulski 09:46 2025-06-18 UTC+2

JPMorgan Chase & Co. plans to launch its own stablecoin

JPMorgan Chase & Co., the largest US bank by assets and market capitalization, has filed a trademark application for what appears to be a new blockchain-based asset called JPMD, sparking

Jakub Novak 11:25 2025-06-17 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.