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Bitcoin (BTC<\/a>) price dodged the chaotic volatility that crushed equities markets on the April 4 Wall Street open by holding above the $82,000 level.<\/p>\n BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed erratic moves on Bitcoin\u2019s lower timeframes as the daily high near $84,700 evaporated as BTC price dropped by $2,500 at the start of the US trading session.<\/p>\n Fears over a prolonged US trade war and subsequent recession fueled market downside<\/a>, with the S&P 500 and Nasdaq Composite Index both falling another 3.5% after the open.<\/p>\n S&P 500 1-day chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n In ongoing market coverage, trading resource The Kobeissi Letter described the tariffs as the start of the \u201cWorld War 3\u201d of trade wars.\u201d<\/p>\n BREAKING: President Trump just now, “WE CAN’T LOSE!!!”<\/p>\n A long trade war is ahead of us. https:\/\/t.co\/babI1cf5wi<\/a> pic.twitter.com\/6KCsHp0a8v<\/a><\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) April 4, 2025<\/a><\/p><\/blockquote>\n \u201cTwo-day losses in the S&P 500 surpass -8% for a total of -$3.5 trillion in market cap. This is the largest 2-day drop since the pandemic in 2020,\u201d it reported<\/a>.<\/p>\n The Nasdaq 100 made history the day prior, recording its biggest single-day points loss ever.<\/p>\n The latest US jobs data in the form of the March nonfarm payrolls print, which beat expectations, faded into insignificance with markets already panicking.<\/p>\n Market expectations of interest rate cuts from the Federal Reserve nonetheless edged higher, with the odds for such a move coming at the Fed\u2019s May meeting hitting 40%, per data from CME Group\u2019s FedWatch Tool<\/a>.<\/p>\n Fed target rate probabilities comparison for May FOMC meeting. Source: CME Group<\/em><\/p>\n<\/figcaption><\/figure>\n As Bitcoin managed to avoid a major collapse, market commentators sought confirmation of underlying BTC price strength.<\/p>\n Related: <\/strong><\/em>Bitcoin sellers ‘dry up’ as weekly exchange inflows near 2-year low<\/strong><\/em><\/a><\/p>\n For popular trader and analyst Rekt Capital, longer-timeframe cues remained encouraging.<\/p>\n #BTC<\/a> <\/p>\n Bitcoin is already recovering and on the cusp of filling this recently formed CME Gap$BTC<\/a> #Crypto<\/a> #Bitcoin<\/a> https:\/\/t.co\/ZDvsF6ldCz<\/a> pic.twitter.com\/PSbAESmqnY<\/a><\/p>\n \u2014 Rekt Capital (@rektcapital) April 4, 2025<\/a><\/p><\/blockquote>\n \u201cBitcoin is also potentially forming the very early signs of a brand new Exaggerated Bullish Divergence,\u201d he continued<\/a>, looking at relative strength index (RSI) behavior on the daily chart.<\/p>\n \u201cDouble bottom on the price action meanwhile the RSI develops Higher Lows. $82,400 needs to continue holding as support.\u201d<\/p><\/blockquote>\n BTC\/USD 1-day chart with RSI data. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Fellow trader Cas Abbe likewise observed comparatively resilient trading on Bitcoin amid the risk-asset rout.<\/p>\nUS stocks notch record losses as analysts predict \u201clong trade war\u201d<\/h2>\n
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Bitcoin clings to support above $80,000<\/h2>\n
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