TLDR
- Bitcoin price currently hovering around $80,000 after recovering from a dip to $74,000
- US-China trade tensions intensified with China imposing 84% tariffs and US raising tariffs to 145%
- President Trump postponed tariffs for 90 days for most trading partners, excluding China
- Whale investors moved approximately $3.6 billion (48,575 BTC) into accumulation addresses
- Market sentiment appears to be recovering with 132 new wallets holding over 10 BTC in the past 24 hours
Bitcoin prices have stabilized around the $80,000 mark as markets react to escalating trade tensions between the United States and China. The cryptocurrency experienced wild swings this week, dropping as low as $74,000 before recovering in response to changing trade policies.
The world’s largest cryptocurrency fell 1.8% to $80,680 as investors processed the impact of new tariffs. Bitcoin has moved down 3.4% this week amid market uncertainty.
President Donald Trump recently announced a 90-day extension for planned tariffs against many US trading partners. However, this extension did not include China.
Instead, the US raised tariffs on Chinese goods to 145%. China quickly responded by imposing 84% tariffs on US products earlier this week.
These trade actions have created concern about economic growth prospects and dampened risk appetite across global markets. The tension between the world’s two largest economies has caused volatility in both traditional and cryptocurrency markets.
Bitcoin $BTC
The more a trendline is tested, the weaker it becomes
Not ruling out another sweep of the lows before a potential breakout pic.twitter.com/77ohIQ3MOT
— Trader Edge (@Pro_Trader_Edge) April 11, 2025
Whale Activity Signals Confidence
Despite market uncertainty, data suggests large investors may be growing more confident in Bitcoin’s prospects. According to CryptoQuant, approximately $3.6 billion worth of Bitcoin (48,575 BTC) moved into accumulation addresses recently.
This represents the largest whale movement since 2022. Such activity often indicates growing confidence among major market participants.
Additionally, Santiment data shows 132 new wallets holding over 10 BTC appeared in the past 24 hours. This surge in “shark” wallets suggests more investors are taking positions despite recent price volatility.
Technical Analysis Points to Key Levels
Bitcoin’s price action shows it has rebounded from recent lows, indicating buyers stepped in to support the market. The cryptocurrency currently trades above $81,000 after its recovery from $74,500.
For Bitcoin to maintain bullish momentum, analysts suggest it needs to close the week above $81,500. This level could be crucial for dispelling bearish sentiment in the market.
The Ichimoku cloud technical indicator is approaching a bearish crossover. Meanwhile, the Relative Strength Index (RSI) has dropped below average but appears to be forming a potential bullish divergence.
Bitcoin has been moving in close correlation with US equity markets, particularly the Nasdaq. This relationship has raised questions about Bitcoin’s status as a safe haven asset or inflation hedge.
Gold and the Japanese yen outperformed other assets this week, living up to their traditional safe haven status during market uncertainty.
Corporate Holdings Under Pressure
Adding to market pressure, major corporate Bitcoin holder MicroStrategy disclosed a $5.9 billion unrealized loss on its digital asset holdings. This announcement came following the prolonged slump in Bitcoin prices.
Several major whales were also reported to be moving substantial amounts of Bitcoin onto exchanges. Such movements can sometimes signal potential selling pressure.
However, the rapid price recovery above $80,000 appears to have restored some investor confidence. The market’s quick rebound suggests underlying strength despite macroeconomic headwinds.
For the coming week, the price action indicates Bitcoin may test resistance at $82,500 if current momentum holds. However, long-term price action remains uncertain.
Traders are closely watching key technical levels and further developments in the US-China trade situation. Any changes in trade policy could trigger additional volatility in cryptocurrency markets.
