![](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjFhZTItNzRkMi03NDUyLTg2ZGEtN2ZkZTk1ZjJkMTA4.jpg\")
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Bitcoin (BTC<\/a>) price made a swift move to $78,300 at the April 9 Wall Street open as \u201cherd-like\u201d price action in equities markets continued to spook risk-asset traders.<\/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 BTC\/USD retargeting five-month lows under $75,000 before rebounding leading into the NY trading session.<\/p>\n A deepening US-China trade war kept stocks on their toes, having cost Bitcoin the $80,000 mark<\/a> the day prior.<\/p>\n Highly unusual market behavior had accompanied US tariff announcements, and China\u2019s response with reciprocal tariffs saw the S&P 500 smash records with its roundtrip from lows to highs and back.<\/p>\n \u201cOn a point basis, the S&P 500 just posted its largest intraday reversal in history, even larger than 2020, 2008 and 2001,\u201d trading resource The Kobeissi Letter confirmed<\/a> in ongoing market coverage on X.\u00a0<\/p>\n \u201cYou have just witnessed history.\u201d<\/p><\/blockquote>\n S&P 500 chart. Source: The Kobeissi Letter\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Kobeissi drew attention to volatility kicking in from the smallest of triggers, with markets particularly sensitive to statements from US President Donald Trump.<\/p>\n \u201cThe problem with markets right now: Both bulls AND bears feel \u2018uncomfortable\u2019 in these market conditions,\u201d it explained<\/a> on the day.<\/p>\n \u201cWhy? Because stocks can swing $5+ trillion in market cap on the basis of a single post from a single person: President Trump. This is why we are seeing \u2018herd-like\u2019 price action, where large daily gains turn into large daily losses, and vice-versa.\u201d<\/p><\/blockquote>\n Crypto Fear & Greed Index (screenshot). Source: Alternative.me<\/em><\/p>\n<\/figcaption><\/figure>\n Crypto was no exception to the tug-of-war, with the Crypto Fear & Greed Index<\/a> dropping to its lowest levels since early March.<\/p>\n For Keith Alan, co-founder of trading resource Material Indicators, the status quo was unlikely to improve in the short term.<\/p>\n \u201cPart of me wants to sit on my hands and wait for this shit storm to pass,\u201d he told<\/a> X followers while examining order book conditions for Ether (ETH<\/a>) and Solana (SOL<\/a>).<\/p>\n \u201cBecause I don’t think it is going to pass quickly, I’m not too eager to buy, even though some of these assets are on sale at great prices. That said, the fact that bids are piling in on some assets makes them very enticing.\u201d<\/p><\/blockquote>\n Related: <\/strong><\/em>Black Monday 2.0? 5 things to know in Bitcoin this week<\/strong><\/em><\/a><\/p>\n Focusing on BTC price action, popular trader and analyst Rekt Capital revealed a new nearby resistance level in the form of a recent \u201cgap\u201d in CME Group\u2019s Bitcoin futures.<\/p>\n \u201cOn the CME Futures Bitcoin chart, price broke down from its sideways range (black-black),\u201d he wrote<\/a> alongside a chart showing the gap between $82,000 and $85,000.<\/p>\n \u201cIn confirming the breakdown from the range via a bearish retest, Bitcoin filled the CME Gap (red circle) in the process. That CME Gap is now a resistance.\u201d<\/p><\/blockquote>\n CME Bitcoin futures 1-week chart with gap highlighted. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Further analysis gave a new BTC price range with $71,000 as its lower boundary based on previous trading volumes.<\/p>\n \u201cBitcoin is experiencing downside continuation after upside wicking into the early March Weekly lows (red),\u201d Rekt Capital summarized.<\/p>\n \u201cHaving confirmed this red level as new resistance, BTC is now dropping into the $71,000-$83,000 Volume Gap to fill this market inefficiency.\u201d<\/p><\/blockquote>\n BTC\/USD 1-week chart with volume data. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n As Cointelegraph reported<\/a>, Rekt Capital is among those seeing a potential long-term reversal point at $70,000 or marginally lower<\/a>.<\/p>\n 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.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) price made a swift move to $78,300 at the April 9 Wall Street open as \u201cherd-like\u201d price action in equities markets continued to spook risk-asset traders. BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView Bitcoin gyrates as stocks make history Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD retargeting five-month lows under $75,000 before rebounding […]<\/p>\n","protected":false},"author":1,"featured_media":186,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts\/185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=185"}],"version-history":[{"count":0,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts\/185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/media\/186"}],"wp:attachment":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin gyrates as stocks make history<\/h2>\n
CME \u201cgap\u201d creates BTC price resistance above $82,000<\/h2>\n