The Bitcoin price fell by 11 % during the weekend after Trump’s executive order to use BTC’s control of reserves, while the wider macroeconomic pressure and Haboodi technical signals indicate beside the negative side.
On March 7, Donald Trump signed an executive order to use Bitcoin (BTC), which was seized from the criminal cases of the strategic reserve rather than buying it from the market. This announcement led to a decrease in the price of Bitcoin, which opened the Strong of $ 90,000 on March 7, but shaved about 11 % of its value during the weekend, closed by only $ 80,751 on March 9, according to Coingecko. However, since then it has been recovered to more than 82,000 dollars, and is currently trading of $ 82.154, a 4 % decrease over the past 24 hours.
This market reaction is likely due to unrealistic expectations, as many expected that the government will buy BTC, as it pumps more money in the market. However, it did not completely exclude future Bitcoin purchases, but they will need to be “budget neutral”, without a burden on taxpayers.
In addition to the disappointments of the reserve, the price of bitcoin is still under pressure due to the total concerns, and is mainly related to the tariffs. Specifically, the trade war between the United States and China is intensifying, as Beijing imposes definitions on some American agricultural goods as a revenge for Trump’s recent increase in Chinese import duties. In addition, Federal Reserve Chairman Jerome Powell confirmed on Friday that the central bank will retain the waiting and vision approach to interest rates. This came after a weak salary report in the United States and at least three discounts in the Federal Reserve rate this year.
On the artistic side, the most prominent graph analyst Peter Brandt highlighted that the price of bitcoin has completed a dual -top style, with a length of about $ 10,8100. After the peak, it collapsed below the main support (previous domain) near 95,321-96,659. After collapsing, the price formed a dumping banner (unification pattern), which re-tested the collapse area around 95321-19659) but failed to restore it. I completed the flag, and the price decreased, indicating the negative side. Support in 81,513 is now the critical level. If broken, it is possible that a decrease will follow more decrease.
If the price decreases below this level, this may cause about $ 1.3 billion of long qualifiers to benefit from this, according to Coinglass data. Such a massive survey will undoubtedly lead to strong pressure on the price.
Arthur Hayes’s latter analysis may provide an insightful look at what can happen after that. In his recent participation in X, he said that Bitcoin is likely to re -test the level of $ 78,000, and if this fails to keep, it may be 75 thousand dollars the next goal. He added that many investors have placed options betting on a price scale from 70,000 dollars to $ 75,000. “If we enter this range, it will be violent.”
Silver
On the bright side, some experts believe that the Bitcoin Reserve news is emerging in the long run and that the market reaction to the news consisting of the infected BTC (at least in the near future) was the result of inflated expectations. Matt Hougan, the chief investment official of BitWise Asset Management, CNBC, also told the “The market is disappointed” that the government did not say that it will immediately start obtaining 100,000 or 200,000 Bitcoin. Hogan referred to AI CZAR DAVID SACKS about X, which said that the United States will search for “neutral budget strategies to obtain additional Bitcoin, provided that these strategies have no gradual costs on American taxpayers.”
Another positive development (although a secondary compared to the overall opposite winds) is that the portfolio carrying Bitcoin has accumulated cumulating approximately 5000 BC since March 3, according to Santiment. Although the prices have not yet reflected, if the whales continue to accumulate, the second half of March may be better than the “bloodbath” that the market has witnessed since BTC reached its new peak 7 weeks ago.
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