Bitcoin Faces 'Death Cross' Amid Trump Tariffs, Analysts See Potential Rebound
1min read Bitcoin, the world's largest cryptocurrency by market capitalization, is currently facing a potential 'death cross' pattern, a technical indicator that often signals a bearish trend. This pattern occurs when a short-term moving average crosses below a long-term moving average, suggesting that the asset's price may continue to decline. However, one analyst believes that this death cross could actually be a bullish sign for Bitcoin.
Crypto analyst Evan Aldo explained that the death cross might not be as negative as it sounds. It could be a sign that Bitcoin is about to bounce back. Looking at a chart shared by Benjamin cowen, he said that this pattern has historically marked the bottom of the market, meaning Bitcoin could be on the edge of a big recovery. Even with current downward pressure, he believes if Bitcoin’s price dips toward the $77,000-$79,000 area, it should find substantial support there.
A rebound is expected soon, with Bitcoin possibly reaching $119,000 to $120,000 by the summer. By the end of the year, Bitcoin could hit as high as $150,000, fueled by strong market momentum and investor interest. However, a drop below $75,000 would be a red flag. The biggest concern would be if the price falls below $70,000, which would be a huge drop compared to previous market corrections after Bitcoin’s halving events. Historically, Bitcoin has corrected around 30-35% after such events, so anything beyond that could signal deeper trouble.
Markets took a major hit this Thursday after President Donald Trump announced new tariffs, including a 25% levy on auto imports from Canada and potential tariffs on the EU if they collaborate against the U.S. economy. Cryptocurrencies like Bitcoin, Ethereum (ETH), and Ripple (XRP) dropped over 5%. Bitcoin, often seen as a hedge against traditional market risks, wasn’t immune to the sell-off. Experts predict that the tariffs, aimed at boosting the U.S. economy, might actually strain global markets, leading to more volatility in both traditional assets and digital currencies like Bitcoin.
