The metric is above 60% on almost all major data aggregators. …

Learn MoreBitcoin Dominance at Multi-Year Highs as BTC Flirts With $85K (Market Watch)

Bitcoin held near the $84,500 level on Monday following a weekend of muted price movement, while traditional markets reflected diverging investor sentiment in the wake of the latest moves in US-China trade tensions. The White House initially announced Friday that smartphones, computers, and other consumer electronics would be exempt from steep tariffs. The US Customs […]

The post Bitcoin, equities, oil jump as trade war tariff messaging on electronics confuses market appeared first on CryptoSlate.

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Learn MoreBitcoin, equities, oil jump as trade war tariff messaging on electronics confuses market

Bitcoin (BTC) is holding down the fort as the US trade war rages on into the third week of April.

• BTC price action attempts to overcome a long-term resistance trend line without success as trade war concerns dictate traders’ expectations.

• Tariffs are the key macroeconomic topic of the week as risk assets brace for potential surprise headlines.

• Bitcoin ETFs lost almost $800 million in a week, while Strategy indicates it has purchased the dip.

• Despite tariff pressures, the weakness of the US dollar could be a blessing in disguise for Bitcoin and risky assets.

• Global M2 money supply is at an all-time high and rising; will Bitcoin follow history and replicate its past?

Bulls battle a key BTC price resistance line

With traders on the lookout for tariff-related volatility this week, BTC price analysis is zooming out.

BTC/USD closed last week up 6.7%, data from Cointelegraph Markets Pro and TradingView confirms.

Next, however, comes the real test, breaking beyond a downward-sloping trend line that has capped the upside for months.

$BTC – #Bitcoin: I’m watching this chart closely. We might be ready. pic.twitter.com/Dtv1jkrzkP

— Crypto Caesar (@CryptoCaesarTA) April 12, 2025

“Rejected at key resistance, following the trendline perfectly,” trader Bitbull wrote in his latest post on the topic on X. 

“If the breakdown continues, eyes on the $70K-$72K support zone for a possible bounce.”

Fellow trader and analyst Rekt Capital is also eyeing the trend line as a breakout proves hard to confirm.

“Bitcoin has Daily Closed above the Downtrend. Thus, breakout confirmation is underway,” he told X followers over the weekend.

“However BTC has previously Daily Closed above the Downtrend but failed its retest (a few of the red circles). Retest needs to be successful and it is in progress.”

Popular trader AK47 on X posted separate upside and downside BTC price targets, depending on the outcome of the trend line retest.

“$BTC might push to $88K — but don’t get too comfy,” he cautioned.

“Could be a fakeout, grabbing liquidity before dipping to $81K for that inverse head & shoulders setup. If that plays out, $95K–$100K isn’t far.”

Tariff talk keeps markets on edge

A quieter week for US macroeconomic data leaves initial jobless claims as the highlight while the ongoing trade war continues to dominate.

With China in focus, risk assets and crypto face flash volatility should more surprises involving trade tariffs surface.

The weekend saw snap relief in that respect as US President Donald Trump announced a pause on tariffs for key tech products. As a result, Bitcoin climbed to 11-day highs above $86,000.

Subsequent indications that the measures would be temporary then put renewed pressure on stocks’ futures, while BTC/USD retreated to circle $84,000 at the time of writing.

“We think the ‘tariff exemptions’ announced this weekend were originally intended to be temporary,” trading resource The Kobeissi Letter wrote in part of an X reaction. 

“The goal was to bring treasury yields back down before resuming the trade war.”

Kobeissi suggested that markets had originally considered the move as a signal that the trade war might end completely, only to be disappointed a day later.

“Bonds will likely still rally along with stocks, but uncertainty has only grown. The bond market is king,” it added.

Continuing, trading firm Mosaic Asset agreed that bonds may have been crucial in altering policy trajectory last week.

“It’s the volatility in other areas of the markets like currencies and Treasury bonds that might have forced a quick pivot on trade and tariff policy,” it summarized in the latest edition of its regular newsletter, “The Market Mosaic,” on April 13.

“The uncertainty around tariffs has become a binary and unpredictable event for the stock market. Signs of tensions fuel further downside, while an easing of tensions sends stocks sharply in the other direction.”

Bitcoin ETF outflow “barely registers”

A sign of how turbulent last week was came in the form of net flows from the US spot Bitcoin exchange-traded funds (ETFs).

In one of the worst weeks ever for the ETF products since their debut in early 2024, total outflows passed $750 million.

For network economist Timothy Peterson, however, there is little to worry about.

Zooming out, he noted that even a nine-figure drawdown such as this makes hardly any difference to the overall investment pool that the ETFs have created in little more than a year.

“Last week, US Bitcoin ETFs had their 5th worst week ever (in terms of outflows). Over $700 million. Yet it barely registers as a blip on the chart,” he told X followers. 

“That’s how big Bitcoin has become. That’s how sticky these investments are.”

Among major investors seeking to “buy the dip,” meanwhile, was business intelligence firm Strategy (formerly MicroStrategy), whose co-founder Michael Saylor hinted that it was upping its BTC exposure this weekend.

“No Tariffs on Orange Dots,” he wrote in an X post alongside a chart of Strategy’s acquisitions. 

Whether Bitcoin will emerge as an attractive proposition for the institutional investor cohort while trade war uncertainty continues is dubious.

A survey by Bank of America in late March showed that respondents overwhelmingly favored gold as a volatility hedge, with 58% choosing it.

“This compares to just 9% for 30-year Treasury Bonds and 3% for Bitcoin,” Kobeissi wrote while reporting on the findings. 

“Throw in the US deficit spending crisis and gold quickly becomes the only global safe haven asset.”

Dollar dive gives risk assets hope of relief

The US dollar may yet provide some light at the end of the tunnel for wary risk-asset traders this week.

The trade war has taken its toll on the greenback, and when measured against major trading partner currencies, its weakness is plain to see.

The US Dollar Index (DXY) fell to three-year lows last week and, at the time of writing, is challenging those lows once more.

Markets selling dollar even lower Monday. DXY fell through 100 and also the 2023 low over last few hours, now at lowest in 3 years pic.twitter.com/MJ8wvvJuY2

— David Ingles (@DavidInglesTV) April 14, 2025

While far from constant, Bitcoin’s relationship with dollar strength tends to show that gains occur after major DXY losses, albeit with a delay of several months.

To that end, popular analytics account Bitcoindata21 is eyeing a repeat of events from 2017, resulting in BTC/USD all-time highs at the end of the year.

Another chart uploaded to X over the weekend showed the relationship between DXY, Bitcoin and the S&P 500, providing ideal conditions for a long-term bottom in the latter.

The last time such a signal came was around one month before the pit of the Bitcoin bear market in late 2022.

“I got 99 problems but the DXY aint 1,” Bitcoindata21 summarized.

A bull market rebound in the making?

On longer timeframes, an equally promising trend is playing out for Bitcoin bulls.

Related: Bollinger Bands creator says Bitcoin forming ‘classic’ floor near $80K

The global M2 money supply, with which Bitcoin price action is positively correlated, is seeking to break out beyond all-time highs.

“Global M2 has remained at an ATH for 3 days in a row,” analyst Colin Talks Crypto noted in a dedicated X post on the phenomenon this weekend. 

“This is a fantastic sign for what it signals will be coming into risk assets in ~108 days.”

The post refers to a chain reaction in which sharp moves in global M2 spark copycat behavior for Bitcoin once the latency period expires.

Before that, however, there may be a final opportunity to “buy the dip.”

“Global M2 (with a 108-day offset) doesn’t show a blast-off for another ~2 1/2 weeks, and actually shows a slow bleed into next week until around April 16th or 17th,” Colin Talks Crypto acknowledged.

Earlier this month, the analyst predicted a “big M2 influx” incoming, with a corresponding BTC price rebound beginning in May.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Andrew Kang, founder of the crypto venture firm Mechanism Capital, has seemingly doubled down on his bet that Bitcoin will gain in price with a $200 million long position, onchain data shows. 

“Andrew Kang just doubled his Bitcoin position,” crypto analytics firm Arkham said in an April 12 X post. It explained a crypto address tied to Kang made another $100 million long bet on Bitcoin (BTC) with an expected profit, or loss, of $6.8 million.

On April 9, Arkham noted that the Kang-tied wallet had put on a $100 million leverage-long bet on Bitcoin after US President Donald Trump posted to his Truth Social platform earlier the same day that “THIS IS A GREAT TIME TO BUY!!! DJT.”

Just hours later, the Trump administration announced a 90-day pause on its global hiked tariff regime, which sent crypto and stocks rallying. The tariffs, first unveiled on April 2, had gone live just hours earlier and had tanked most financial markets.

Kang said in an April 12 X post that trade war capitulation and a “Trump put”  — the belief that the president will work to bump the stock market — “are the perfect combination for BTC to reverse a multi month downtrend.”

Meanwhile, Senate Democrats called on the Securities and Exchange Commission in an April 11 letter to launch an insider trading and market manipulation probe into Trump and his affiliates over the post, which they said “appears to have previewed his plans” to pause the tariffs.

Bitcoin choppy on tariff confusion

Bitcoin has seen an over 2% swing over the past 24 hours as the Trump administration went back and forth on tariff exemptions for Chinese electronic goods.

Related: NFT trader faces prison for $13M tax fraud on CryptoPunk profits

Bitcoin hit a 24-hour low of $83,197, wiping most of the gains it made before the weekend, but it has since recovered to trade flat over the past day at around $85,000 after briefly hitting a top of $85,315, CoinGecko data shows.

Trump posted to Truth Social on April 13 that “there was no tariff ‘exception’ announced on Friday,” April 11, but that levies on Chinese electronics are “moving to a different Tariff ‘bucket’” of 20%.

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The Trump family-backed crypto project World Liberty Financial (WLFI) has added 4.89 million SEI tokens valued at $775,000 to its portfolio, according to onchain data.

Data from blockchain analytics firm Arkham Intelligence shows the purchase was made on April 12 by one of WLFI’s trading wallets using USDC transferred from the project’s main wallet. It’s the same trading wallet previously used by WLFI to accumulate other altcoins.

WLFI holds a diversified portfolio, including Bitcoin (BTC), Ether (ETH), and a larger number of altcoins, such as Tron (TRX), Ondo Finance (ONDO), Avalanche (AVAX) and now Sei (SEI).

According to blockchain researcher Lookonchain, WLFI has spent a total of $346.8 million accumulating 11 different tokens, but as of April 12, it has yet to see a profit on any of them. The project’s Ethereum investments alone are currently down over $114 million. 

Overall, Lookonchain says WLFI’s portfolio is down $145.8 million.

Only two months ago, in a Feb. 3 X post, Donald Trump’s son, Eric Trump, urged his followers to buy Ether, writing: “In my opinion, it’s a great time to add $ETH.” Originally, the tweet also included “you can thank me later,” but it was edited to remove those five words.

At the time of writing, data from CoinGecko showed ETH’s price had fallen 55% since Eric Trump’s tweet, currently trading at $1,611, down from the Feb. 3 close of $2,879.

Related: Democrats slam DOJ’s ‘grave mistake’ in disbanding crypto crime unit

WLFI’s USD1 logo appears on major exchanges

Meanwhile, an icon for WLFI’s stablecoin, USD1, has appeared on Coinbase, Binance and the crypto aggregator website CoinMarketCap in what appears to be the coin’s unofficial logo unveiling. 

WLFI has made no official announcement about USD1’s logo.

Trump’s involvement with USD1 has attracted criticism from lawmakers on both sides of US politics. At an April 2 US House Financial Services Committee hearing on stablecoin legislation, Democratic Representative Maxine Waters suggested President Trump may be ultimately planning to use USD1 to replace the US dollar.

“Trump likely wants the entire government to use stablecoins, from payments made by the Department of Housing and Urban Development to Social Security payments to paying taxes. And which coin do you think Trump would replace the dollar with? His own, of course.”

The committee’s Republican chair, French Hill, aired similar concerns.

“If there is no effort to block the president of the United States of America from owning his stablecoin business […] I will never be able to agree on supporting this bill, and I would ask other members not to be enablers.”

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Learn MoreTrump’s World Liberty Financial buys $775K in SEI in altcoin buying spree