Bitcoin’s failure to hold above $83,000 increases the chance of a liquidity grab below the price range lows.
Bitcoin (BTC) price bounced quickly from its five-month low of $74,300 to reach $83,565 on April 9, but the rejection from the $83,500 level raises questions about whether BTC will be able to hold the $80,000 zone.
BTC/USD daily chart. Source: Cointelegraph/TradingView
On April 9, US President Donald Trump authorized a 90-day pause on proposed tariff hikes while introducing a blanket 10% reciprocal tariff on all countries except China. In contrast to his broader olive branch, Trump doubled down on his trade war with China, escalating tariffs on Chinese imports to the US to 125%, citing Beijing’s lack of “respect for world markets.”
