Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Bitcoin Bottom In Sight As Trump Expected To Soften Stance On Reciprocal Tariffs: Report

Source Newsbtc

According to a recent report by 10X Research, Bitcoin (BTC) may be attempting to form a local bottom, as US President Donald Trump is expected to soften his stance on reciprocal tariffs, which are set to go into effect on April 2.

Up Only For Bitcoin?

Bitcoin’s plunge to $77,000 on March 10 may have marked the bottom for the top cryptocurrency in the current market cycle. Since then, the digital asset has appreciated by more than 10%, trading in the mid $80,000 range at the time of writing.

The 10X Research report suggests that Trump’s recent pivot toward “flexibility” on the upcoming April 2 reciprocal trade tariffs may have alleviated some concerns about further deterioration in the global macroeconomic outlook.

Additionally, the report emphasizes the US Federal Reserve’s (Fed) comments following this month’s Federal Open Market Committee (FOMC) meeting, where the central bank indicated that it would slow the pace of balance sheet drawdown and end the current cycle of quantitative tightening.

The Fed’s remarks followed the release of the February 2025 Consumer Price Index (CPI) inflation data, which came in line with expectations, easing concerns about inflation. The report’s claim that BTC has formed a bottom aligns with crypto entrepreneur Arthur Hayes’ recent statement, where he noted that BTC may have “probably” bottomed at $77,000.

The following chart illustrates a bullish reversal in BTC’s 21-day moving average, which currently sits at $85,200. The report points out that these weekly reversal signs are back at levels typically seen when past bull markets have resumed.

For example, in September 2023, BTC benefited from bullish momentum as the Bitcoin exchange-traded funds (ETF) narrative gained traction. Similarly, BTC embarked on a historic rally in August 2024 as the US presidential election drew closer.

Additionally, a recent post on X by seasoned crypto analyst Ali Martinez highlights that Bitcoin transaction fees have nearly tripled over the past week, indicating an uptick in network activity as market sentiment improves.

BTC Still Not Completely Bullish

While Trump’s softening stance on tariffs is good news for risk-on assets like cryptocurrencies, BTC still needs to break through and sustain certain price levels to regain strong bullish momentum.

Recent analysis by Martinez identified $94,000 as a critical price level for BTC to overcome. If the digital asset decisively breaks through and sustains this level, it could be poised to climb as high as $112,000.

That said, concerns remain about BTC’s relatively weak price performance compared to other safe-haven assets like gold. At press time, BTC is trading at $87,650, up 3.6% in the past 24 hours.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Four jobs reports in five days: what JOLTS, ADP, claims and the September payrolls mean for the October Fed decision The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Author Mitrade

Sep 28, Mon

The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Nvidia's $150 billion buyback landed — and the AI sector fell anyway. That's the signal worth trading Nvidia closed up 1.68% at $228.86 on 28 September after announcing a $150 billion share repurchase authorisation, the largest single corporate buyback on record, while the rest of the AI complex sold off: AMD -3.6%, Micron -2.6%, Meta -4.8% and the Philadelphia Semiconductor Index -1.61%. The divergence is not noise. Capital is rotating toward cash-flow certainty, not abandoning the AI theme. With Micron reporting after the close on 30 September, here is what the split means.

Author Irene Q.

Sep 29, Tue

Nvidia closed up 1.68% at $228.86 on 28 September after announcing a $150 billion share repurchase authorisation, the largest single corporate buyback on record, while the rest of the AI complex sold off: AMD -3.6%, Micron -2.6%, Meta -4.8% and the Philadelphia Semiconductor Index -1.61%. The divergence is not noise. Capital is rotating toward cash-flow certainty, not abandoning the AI theme. With Micron reporting after the close on 30 September, here is what the split means.

【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonight The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Author Suzie

Sep 30, Wed

The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflation Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Author FXStreet

Yesterday 01: 26

Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Popular Symbols