Forex Analysis & Reviews: 03.04.2025 - Bitcoin again loses battle

InstaForex Loprais Team - Official participant of the Dakar rally

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InstaForex Loprais Team - Official participant of the Dakar rally

03.04.2025 11:36 AM

Bitcoin again loses battle

Both Bitcoin and Ethereum asserted their strength for a while yesterday in the midst of the US session before Trump's statements and the introduction of tariffs. However, demand for risk assets subsequently decreased. Although the tariffs are unlikely to have a significant impact on the crypto market, traders rushed to lock in profits, once again failing to implement strategies to break through the major resistance at $90,000. Such erratic regular sell-offs limit further medium-term bullish momentum for Bitcoin.

The sharp decline in US stock indices entailed a fall in cryptocurrencies as well. Investors, concerned about the prospects of a tighter monetary policy by the Federal Reserve and the likelihood of renewed inflation after the tariffs were introduced, began shedding risk assets, including technology stocks and digital currencies. Experts attribute this to the fact that many institutional investors who had previously invested in cryptocurrencies view them as highly speculative instruments and are the first to withdraw funds when market conditions worsen.

Despite the decline, cryptocurrency advocates argue that this is a temporary correction and that digital assets will continue to grow in the long term. However, the impact of macroeconomic factors on the cryptocurrency market is becoming more evident. Investors increasingly view cryptocurrencies as part of a global investment portfolio, making them more sensitive to geopolitical events and changes in the economic policies of major countries.

However, despite short-term fluctuations, the long-term outlook for the cryptocurrency market remains positive. Strengthening infrastructure, the increasing number of crypto investors, and the development of new blockchain technology applications encourage interest in digital assets. Furthermore, regulatory uncertainty is gradually being replaced by clearer rules, which encourages institutional investors. The Trump administration has already done a great deal in this direction, further boosting investor confidence in the new realm of digital assets.

As for the technical picture of Bitcoin, buyers are currently aiming for a return to the $83,600 level, which would open the direct path to $84,300. From there, the $85,200 level will be around the corner. The furthest target would be the high near $86,100. Overcoming this level would signal a return to a bullish market. In case of a drop in Bitcoin, buyers are expected at the $82,700 level. If the trading instrument settles below this area, it could quickly push BTC down to the $81,900 region. The furthest target would be the $81,000 area.

As for Ethereum's technical picture, a clear consolidation above the $1,847 level opens the direct path to $1,888. The furthest target would be the high near $1,928. Once this level is overcome, it would signal a return to a bullish market. In case of a decline in Ethereum, buyers are expected at the $1,806 level. A return of the trading instrument below this area could quickly push ETH down to the $1,773 region. The lowest target would be the $1,740 area.

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*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.