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Cryptocurrency News Articles
Bitcoin (BTC) Price Briefly Rises Above $83,000 Showing Signs of Recovery After Rough Q1
Apr 01, 2025 at 04:20 pm
Bitcoin rose slightly to $83,210 on Tuesday, April 1, showing signs of recovery after a rough first quarter. The world's largest cryptocurrency saw an 11% drop in value during Q1 2025
Bitcoin price showed signs of recovery on Tuesday, April 1, showing signs of recovery after a rough first quarter. The world’s largest cryptocurrency dropped 11% in value during Q1 2025 and remains about 24% below its January record high.
Bitcoin price today slid 1.3% to $83,210. This modest price increase follows a period of heightened market anxiety.
This anxiety stems from uncertainty around President Donald Trump’s planned trade tariffs against key U.S. trading partners. Trump has repeatedly referred to April 2 as “liberation day.” This is when he plans to reveal more details about tariffs on sectors like semiconductors, pharmaceuticals, and select commodities.
Bitcoin’s price movements have tracked broader financial markets. Risk sentiment has weakened due to speculation about the scope and economic impact of these planned tariffs.
Market Analysis: US May Slip Into Recession in 2025, Says Fidelity
Many analysts have recently increased their expectations for a U.S. recession this year. This outlook has largely affected speculative assets like Bitcoin, which has seen weaker performance than the S&P 500 and NASDAQ so far in 2025.
The Trump administration has maintained a pro-crypto stance since taking office. The president has named several crypto-friendly candidates for key regulatory positions, especially at the Securities and Exchange Commission.
Earlier this year, Trump’s sons, Eric Trump and Donald Trump Jr., will be merging with and taking a 20% stake in American Bitcoin. This Bitcoin mining operation is mostly owned by miner Hut 8.
The deal adds to other crypto ventures backed by Trump. These include the decentralized finance project World Liberty Financial and the $TRUMP memecoin.
Despite these initiatives, Trump’s crypto policies have yet to offer significant support to crypto prices. For instance, his plan to establish a strategic reserve from the government’s existing Bitcoin holdings failed to generate a notable boost in the market.
Fidelity analyst Zack Wainwright suggests Bitcoin might still be in an “acceleration phase.” This phase is typically marked by “high volatility and high profit,” similar to when BTC experienced a surge to break above $20,000 in December 2020.
March 31 marked day 232 of the current cycle. Previous peaks tended to last slightly longer before corrections began—day 244 in 2010-2011, day 261 in 2015, and day 280 in 2017.
Despite significant price volatility in recent months, large entities are actively expanding their Bitcoin holdings.
Today, Strategy CEO Michael Saylor announced the acquisition of 22,048 BTC (amounting to $1.92 billion) at an average price of $86,969 per Bitcoin on March 31.
On the same day, Bitcoin miner MARA disclosed plans to sell up to $2 billion in stock to allocate the proceeds toward acquiring more BTC. In Japan, Metaplanet is planning to issue bonds valued at $13.3 million to fund the purchase of additional Bitcoins.
Technical Indicators Mixed As Bitcoin Tests Key Level Again
Technical indicators are showing mixed signals for Bitcoin’s short-term outlook. Trader Roman noted that while Bitcoin was retesting the $84,000 area, the relative strength index suggests a possible move lower.
Roman added: “Still no signs of lower lows yet. But if sellers come in strong again at this rate, we might see another push lower from here.”
suggesting a key breakout from a multimonth downtrend in the relative strength index.
Some market predictions now extend downward to $65,000. Bitfinex noted in its latest analytics report that 2025 has been Bitcoin’s worst first quarter in years, with buying momentum capped at $89,000.
According to Bitfinex, price action in recent weeks has formed a consolidation range between $78,000 and $88,000. They also observed that signs of capitulation are easing, with fewer reactive sellers present and long-term holders beginning to accumulate once more.
As the cryptocurrency market closely follows developments on new trade policies, April 2 may bring more clarity on how Trump’s tariffs might affect risk assets like Bitcoin further in the months ahead.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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