Bitcoin price remains above $80,000 as investors stay cautious ahead of Donald Trump's tariff speech, which could impact the cryptocurrency and stock markets.
Trump's Liberation Day and its impact
The main focus is on Trump's speech at the Rose Garden, where reciprocal tariffs against several countries are expected. Analysts warn these measures might trigger an economic downturn. Goldman Sachs and PIMCO have raised recession odds to 35%. Despite a theoretical BTC price drop due to the tariff announcement, historical market practice indicates potential growth. These expectations are already factored into the market.
Technical analysis of Bitcoin
On the weekly chart, Bitcoin shows strong technicals. It is in an ascending channel and remains above the 50-week moving average. This suggests a potential move to $100,000 in the coming weeks. A break below the channel's boundary would invalidate this forecast.
Bitcoin price outlook
A recession could actually be beneficial for Bitcoin and other risk assets if the Federal Reserve decides to cut interest rates and reintroduce quantitative easing.
Bitcoin holds its ground despite market uncertainty. Trump's plans and economic outlook continue to influence investor sentiment.
