Analysts highlight that Bitcoin has been holding above important moving averages, even amid strong pressure in global markets.
Bitcoin (BTC) surprised this past Friday (4) by defying the global liquidation movement in markets, driven by the new round of tariffs announced by U.S. President Donald Trump. While the Nasdaq Composite fell 5.5% – one of the worst sessions since 2000 – BTC rose and again reached the level of $84,000.
The cryptocurrency, however, lost some momentum after Federal Reserve Chairman Jerome Powell warned that tariffs are likely to generate higher inflation and weaker growth, which increased investor caution.
At 1:36 PM, the digital currency was trading at $82,952.85, up 1.2% from the price 24 hours ago. Smaller cryptos were also rising, with highlights on XRP, Solana (SOL), and Dogecoin (DOGE), which were up between 4% and 6%.
Analysts highlight that Bitcoin has been holding above important moving averages, even amid strong pressure in global markets. "It's impressive to see that BTC is performing 3.4% better than the S&P 500 today, especially in a high-risk environment," wrote Caleb Franzen, an analyst at Cubic Analytics, on social media X.
On-chain data (obtained from blockchain) reinforces the resilience of the digital asset. According to Glassnode, short-term investors — who hold BTC for less than 155 days — have increased their positions by 15,000 units since the beginning of April. Long-term holders have raised their total stock to more than 13.5 million BTC. The data points to a sign of increasing conviction, the analysis firm assesses.
While Bitcoin seeks to maintain stability, gold, a traditionally safe asset, could not withstand the wave of position unwinding. After hitting a record high of $3,167.84 per ounce on Thursday, the precious metal plummeted 2.4% this Friday, pressured by the risk-averse climate.
"Although it has remained a solid refuge recently, gold is simply not immune to this major risk-off reaction," said Nicky Shiels, head of metals research at MKS Pamp SA.
