President Trump’s tariff threats on Russian oil are pressuring Bitcoin’s price, currently around $82,000, potentially risking a fall below $80,000 due to rising energy costs and geopolitical tensions. Despite strong institutional buying, bearish technical indicators signal continued downward pressure on Bitcoin, while inflation concerns complicate the market landscape.

President Donald Trump’s recent threats to impose a 25% tariff on Russian oil have exerted downward pressure on Bitcoin, potentially pushing its price below the $80,000 threshold. Currently trading around $82,000, Bitcoin is particularly sensitive to the geopolitical tensions arising from the ongoing Russia-Ukraine conflict, which is creating uncertainty in global markets and impacting crypto prices significantly.

Trump’s anticipatory tariffs may lead to an increase in global oil prices, which would adversely affect Bitcoin miners that depend on low energy costs for profitable operations. An uptick in energy expenses could force miners to liquidate their Bitcoin holdings, thereby further exacerbating the downward trend in Bitcoin’s price. Recent data indicates around 6,000 Bitcoin have been withdrawn from exchanges, suggesting that investors are bracing for potential volatility.

The technical indicators for Bitcoin present a bearish outlook, with analysts observing a persistent downward trend. Bitcoin’s current trading position at approximately $82,000 reflects this trend. Prominent trader Peter Brandt has forecasted that Bitcoin may decline as low as $65,635, supported by indicators such as the Moving Average Convergence Divergence (MACD), which shows no foreseeable positive crossover, alongside a bearish Relative Strength Index (RSI).

Notwithstanding market fluctuations, there remains considerable institutional interest in Bitcoin. Companies like Marathon Digital are advancing their investments, initiating a $2 billion stock sale aimed at acquiring more Bitcoin. Other firms, including Metaplanet and Strategy, are also increasing their reserves. Despite this, recent price declines have persisted, with the broader cryptocurrency market remaining stagnant as many investors await developments in the geopolitical landscape.

Heightened inflation fears further complicate the market, compounding the challenges facing Bitcoin. Following a recent surge towards $90,000, Bitcoin has retreated towards the $80,000 level as market sentiment shifts. Analysts predict that actions by the Federal Reserve in April may provoke significant price movements, with legendary trader Arthur Hayes forecasting potential bullish trends based on anticipated decisions. Although Bitcoin continues to outperform traditional assets like Tesla, market observers remain split regarding its short-term trajectory, weighing the risks of further declines against the solid institutional support that may stabilize its price.

As traders closely monitor the critical $80,000 support level, any official announcement regarding tariffs from the White House could lead to immediate and pronounced reactions in the market. In the event of a price breach below this level, additional selling pressure may ensue.

In summary, the combination of President Trump’s tariff threats, rising energy costs, and inflation fears is placing significant pressure on Bitcoin’s price, potentially pushing it below $80,000. While institutional interest remains strong, technical indicators suggest continued bearish sentiment in the market. As traders watch key support levels, the volatile geopolitical environment continues to create uncertainty within the cryptocurrency market, leading to divided opinions on Bitcoin’s future trajectory.

Original Source: moneycheck.com

Related posts:

Bitcoin and Cryptocurrency Show Recovery Amid Diplomatic Efforts and Inflation Data Bitcoin Price Surges to $90,000; Experts Predict Rise to $1 Million by Year-End Bitcoin Price Stabilizes at $92K Following Record Highs Amid Regulatory Hopes Peter Brandt Declares Bitcoin Price Chart Bearish Amid Geopolitical Uncertainty