Bitcoin’s Wild Ride: Trump, Tariffs, and Tesla’s Tumble!

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Ah, the ever-dramatic Bitcoin! 🎭 It clings to its $85,000 perch like a stubborn actor refusing to leave the stage, even as 6,000 BTC make a grand exit from exchanges. The bulls are roaring, and the market is a circus of volatility, thanks to President Trump’s latest tariff antics. 🎪

Bitcoin’s $90K Dream: Bulls Hold the Line for Three Days Straight

On Thursday, Bitcoin (BTC) showed the resilience of a seasoned thespian, staying above $85,000 despite the chaos unleashed by Trump’s tariff announcement. 🎬

According to TradingView, BTC climbed 2% to $87,756 on Binance before retreating to $87,000. Meanwhile, Ethereum (ETH) found its footing above $2,040. Traders, like cautious directors, are holding their positions, waiting for the next act: a push toward $90,000. 🎥

Why Is Bitcoin’s Price Rising Today? 🤔

Thursday’s 2% Bitcoin surge coincided with Trump’s announcement of a 25% tariff on auto imports, set to hit on April 2. Investors, like panicked extras, fled U.S. stocks expected to suffer under the new policies. 🚗💨

Tesla shares dropped 5%, and the S&P 500 fell 65 points (1.12%). Bitcoin’s rally? A classic case of investors swapping traditional equities for crypto, the perceived safe haven in this tariff-fueled drama. 🎭

Investors Withdraw 6,000 BTC as U.S. Macroeconomic Sentiment Improves 🎉

March 2025 was a rollercoaster for Bitcoin. Trump’s proposal for a U.S. strategic crypto reserve on March 2 sent the market soaring, only for tariffs on Canada and Mexico to trigger a sell-off. Inflation fears loomed like a villain in a tragedy. 🎭

But wait! The Trump administration introduced waivers to ease inflation, and positive CPI and PPI reports in mid-March paved the way for the Fed’s rate pause. Investors, once bearish, are now bullish again. 🐂

CryptoQuant’s Exchange Reserves chart shows a net withdrawal of over 6,000 BTC—worth $525 million—since mid-March. This reduction in supply has helped Bitcoin maintain its $85,000 support for three days. 🎭

Why the $525 Million BTC Outflow Is Bullish for Bitcoin’s Price 🚀

A decline in exchange reserves is a bullish sign. Optimistic traders move BTC to long-term storage, and “whales” stash their coins in cold wallets. Both reduce short-term supply, setting the stage for a breakout toward $90,000. 🎭

Bitcoin Price Forecast: Bulls Eye $90K, but Rejection Risks Lurk 🎭

Bitcoin’s forecast is cautiously bullish, with BTC holding above $87,000. Resistance looms at $88,761, while support sits at $82,680. Consolidation near resistance raises the risk of rejection if momentum falters. 🎬

The Parabolic SAR at $78,746 signals that bulls still control the trend. A breakout above $88,761 could test $90,000, but failure could lead to a retracement toward $82,680. If bears take over, the next support is at $76,598. 🎭

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2025-03-27 22:18