Bitcoin briefly climbed 9% to around $82,500 before falling to $81,700 in the past 24 hours, while Ethereum surged 13.4% to $1,611. XRP rose 13%, while other altcoins also posted double-digit gains.

The move follows several days of steep declines across global markets, where rising trade tensions had sparked heavy losses in stocks and crypto alike.

The reversal came late Wednesday when Trump announced a 90-day pause on his planned tariff increases, surprising investors who had braced for further escalation.

Tariff Pause Sparks Market Rally, But China Still Faces 125% Hike

US President confirmed that duties on Chinese imports would rise to 125%. In his post, Trump said China had failed to respect global market rules, signaling no easing in tensions between the two major economies.

This decision followed Beijing’s move to hike levies on US goods to 84%, escalating a trade dispute that has weighed on markets for weeks.

While the pause offered temporary relief, the White House clarified that a 10% blanket duty on most US imports will remain in place. Existing duties on autos, steel and aluminium are also unaffected.

The S&P 500 closed 9.5%, marking its strongest single-day gain since Oct. 2008. Crypto markets followed suit, with total market capitalization climbing 5.9% to $2.68t, according to CoinGecko. Flare (FLR) and Ondo led gains among altcoins, jumping 34.9% and 21%, respectively.

Market Bounce Proves Costly for Traders With Over 131K Liquidated

Markus Thielen, head of research at 10X Research, described the move as short-lived. “The structural headwinds will remain as we will see during the US corporate earnings season,” he told Cryptonews.

Still, the bounce triggered widespread liquidations across derivatives markets. Data from Coinglass showed 131,555 traders were liquidated in the past 24 hours, totaling $487.1m.

Bitcoin led with $185.2m in liquidations, followed by Ethereum with $138.8m.

While investors welcomed the temporary tariff relief, volatility is likely to persist.

The post BTC Tops $82K as ETH and XRP Jump 13% on Trump’s Tariff Pause appeared first on Cryptonews.

Bitcoin’s price recovered above $82,000 Friday following a decline below $75,000 in the past few days, as investors with large wallets purchased more of the digital asset. Market trends indicate wallets between 1,000 and 10,000 Bitcoin are expanding at a rate higher than the 30-day average, reports CryptoQuant.

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Large Investors Display High Confidence In Bitcoin

The rise in the number of large crypto holders indicates rising confidence in the future of the cryptocurrency. These investors, usually not exchanges or mining pools, are important in maintaining the value of Bitcoin. Their increasing interest comes as Bitcoin’s market capitalization hits $1.58 trillion, with dominance over other cryptocurrencies at more than 60%.

Bitcoin recently hit $83,400 before correcting slightly to settle above $80,000. The increase in these high wallet balances is consistent with Bitcoin’s recent price gains, indicating market strength despite external pressures.

Large investor demand for Bitcoin is accelerating.

Balances of wallets holding 1K–10K BTC rising faster than their 30-day average.

Typically bullish, signals strong investor confidence. pic.twitter.com/hR5Rumj6A6

— CryptoQuant.com (@cryptoquant_com) April 10, 2025

Analysts Look To Price Gap Patterns For Future Projections

Some market observers have offered their predictions on what direction the top digital asset may take next. An X (formerly Twitter) analyst by the name of Enzy Bitcoin says that Bitcoin usually goes up after the filling up of price gaps. The analyst mentioned the latest gap between $70,000 and $75,000, that Bitcoin may reach $130,000 in the near future based on historical trends.

Source: CryptoQuant

Another analyst, BitBull, equated Bitcoin’s stability to recent volatility in US stock markets. As the traditional markets have grappled with volatility, Bitcoin has remained firm above $80,000. Prices below $100,000 may still be acceptable entry points for investors, some experts say.

BTC Long-Term Target Extremely Positive

Looking further down the road, other market observers posted a very favorable prognosis for Bitcoin’s future only recently, emphasizing the significance of being cognizant of market cycles, particularly during pricing fluctuations like when in a bear trap.

The analysts’ projection reads as unusually bullish, that perhaps Bitcoin may get to a whopping $250,000 price tag. This vision also predicts meaningful growth for major alternative cryptocurrencies.

Market Cap Hits $1.58 Trillion While Recovery Keeps Momentum

The latest price bounceback of the flagship crypto has taken its aggregate market value to $1.58 trillion when this report was made. This follows its appreciation by over $8,000 from recent lows, demonstrating the capability of the cryptocurrency to bounce back quickly from temporary declines.

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The market dominance of the cryptocurrency has also grown, currently standing at over 60% of the total crypto market capitalization. The dominance indicates that Bitcoin is the most popular cryptocurrency and continues to attract investors who desire growth as well as a store of value.

Although Bitcoin failed to sustain its short surge to $83,500, sustaining above $81,000 demonstrates resilience in the prevailing market environment. The fact that the buying continues from whales indicates that such investors believe prices will continue rising in the months ahead.

Featured image from BetaNews, chart from TradingView

Bitcoin is starting the week around $81,800, marking a 1.98% decrease over the past 24 hours and continuing a weeklong downtrend that has seen the asset fall over 7% from its March 25 local peak of $88,400.

The sustained decline has triggered roughly $220 million in liquidated crypto positions, extending Bitcoin’s streak of lower lows to a seventh consecutive day.

The pullback coincides with widespread losses across the broader digital asset market. The global crypto market capitalization has dropped to $2.65 trillion, a 1.77% decrease over the same 24-hour period, and daily trading volume has fallen by 1.4% to $57 billion.

Macroeconomic Stress and Tariff Uncertainty Erode Market Confidence

Mounting anxiety ahead of former President Donald Trump’s “Liberation Day” on April 2, during which he is expected to unveil sweeping “reciprocal tariffs,” has added pressure to crypto and traditional financial markets. The anticipation of aggressive trade measures has triggered a derisking trend across spot markets, reducing demand and increasing investor hesitation.

Multiple negative macroeconomic signals are contributing to the unease. Core PCE data released last week pointed to higher-than-expected inflation, while consumer confidence has declined to its lowest level in over a decade. Meanwhile, Goldman Sachs raised its recession forecast from 20 percent to 35 percent, citing elevated geopolitical and economic risk.

Bitcoin’s decline has mirrored losses across equity markets, reinforcing its correlation with traditional risk assets. The S&P 500 has declined by over 6% this month, while the Nasdaq and Dow Jones Industrial Average are down 9% and 4.7%, respectively.

Bitcoin has now declined 13% in the first quarter of 2025, the asset’s worst quarterly performance in two cycles. The correction comes as gold climbs to all-time highs, surpassing $3,087, indicating a complete decoupling of assets.

‘Liberation Day’ Set to Test Market Resilience

The upcoming tariff announcement will likely be a key inflection point for crypto and broader financial markets. Trump’s April 2 “Liberation Day” promises tariff hikes designed to reduce U.S. dependence on foreign goods, with targets including the European Union, South Korea, Brazil, and India, as CNBC reported.

Goldman Sachs projects these duties could raise inflation and unemployment while stalling economic growth. Their forecast includes a potential increase in tariff rates by 15 percentage points, though carveouts for certain products and countries could reduce the effective increase to 9 percentage points. According to Reuters, the immediate market impact will depend on the breadth and timeline of tariff implementation, particularly whether other nations respond in kind.

If retaliation occurs, it could initiate a feedback loop of escalating trade restrictions, likely increasing market volatility. Analysts view the coming days as critical for assessing resilient investor sentiment in the face of potential policy shocks and persistent macro headwinds.

Bitcoin Faces Technical and Sentiment-Driven Headwinds

Technical patterns for Bitcoin suggest further downside risk, with price action nearing a key support level. The asset is testing levels that, if broken, could accelerate the pace of liquidation and open the door for short-term bearish continuation.

Bitcoin has repeatedly failed to maintain the purple price channel, falling back into the green channel, the last historical channel before the potential bottom channel for the cycle at $73,000.

While some analysts anticipate that Bitcoin could benefit from long-term inflationary pressures triggered by tariffs, that narrative remains speculative and disconnected from the immediate sell-off. For now, traders appear more focused on capital preservation amid unclear macro signals and escalating geopolitical risk.

Bitcoin could face increased downside volatility if it closes the week below the key $82,000 support level as investor sentiment remains subdued following short-term disappointment in the US Strategic Bitcoin Reserve.

President Donald Trump’s executive order, signed on March 7, outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases rather than actively acquiring Bitcoin (BTC) through market purchases.

The lack of direct federal Bitcoin investment has “led to a near-term negative market reaction and a decline in Bitcoin’s price,” according to Bitfinex analysts.

Bitcoin needs to close the week above the key $82,000 support to avoid a further decline due to this short-term investor disappointment, the analysts told Cointelegraph, adding:

“Investors had anticipated that federal accumulation of Bitcoin would signal strong institutional support, potentially driving prices higher. However, the reliance on existing holdings without additional investments has tempered these expectations.”

“It demonstrates the sensitivity of cryptocurrency markets to government actions and policies,” the analysts added.

Meanwhile, Bitcoin has lacked significant price momentum, trading under the $90,000 psychological mark since March 7, when Trump hosted the first White House Crypto Summit.

Closing the week above the key $82,000 support may signal a shift in Bitcoin sentiment as investors digest the nuances of Trump’s Bitcoin reserve proposition, which may still see the inclusion of “budget-neutral strategies” to buy more Bitcoin.

Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategy

Macroeconomic factors weigh on Bitcoin price

Beyond crypto-related legislation announcements, Bitcoin price continues to be pressured by macroeconomic developments and global trade concerns, according to Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo.

Bitcoin’s “short-term movements will be heavily influenced by macroeconomic factors,” the analyst told Cointelegraph:

“Next week, all eyes will turn to key US economic events, including the Consumer Price Index, which is expected to signal a slowdown in inflation, and the job openings report, which will serve as a key indicator of labor market strength and the potential for interest rate cuts.”

Related: Rising Bitcoin activity hints at market bottom, potential reversal

Still, a weekly close below $82,000 may introduce significant volatility for crypto markets.

A potential Bitcoin correction below this level would trigger over $1.13 billion worth of cumulative leveraged long liquidations across all exchanges, CoinGlass data shows.

On the bright side, Bitcoin may be nearing its local bottom based on a key technical indicator, the relative strength index (RSI), which measures whether an asset is oversold or overbought.

Bitcoin’s RSI stood at 28 on the daily chart, signaling that the asset is oversold. Each time Bitcoin’s RSI reached 28 during this current cycle, Bitcoin price would “either bottom or be between -2% to -8% away from a bottom,” popular crypto analyst Rekt Capital wrote in a March 8 X post.

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