"Liquidity is like oxygen, which is imperceptible at ordinary times, but instantly fatal when lost.
——Redd Leo, founder of Bridgewater Associates (Principles)”
Principles of famous books
As Trump’s tariff remarks in the early morning caused market turmoil, both U.S. stocks and cryptocurrencies experienced a significant pullback, with Bitcoin falling from $88,000 to a low of $86,000.
Currently, the price of Bitcoin continues to be under pressure below the key resistance level of $88,000. The next key support level is the daily 200-day moving average (EMA) of $85,500, which plays a vital supporting role in the market. If Bitcoin can find support at $85,500, it will be a good opportunity to pay attention to.
On the other hand, if Bitcoin resumes its uptrend and manages to break above the current $88,000 resistance, the critical resistance range above would be located between $90,000 and $92,000.
Bitcoin and many altcoins are currently facing pressure at resistance levels, and we may see consolidation in the current area or a pullback in price to the next support level before rising again.
However, looking at the longer timeframe, the cryptocurrency market is still in a downtrend. Bitcoin needs to recapture the $90,000 support level and achieve a daily close above that price, forming a higher high to signal a trend reversal.
Bitcoin spot ETF fund outflow ends!
From March 17 to March 26, the inflow of funds to Bitcoin spot ETFs continued to be positive. After the market experienced turbulence at the beginning of the month, the spot ETF market has achieved inflows for 10 consecutive days.
Among them, the most outstanding performance was BlackRock's Bitcoin spot ETF - IBIT, which had net capital inflows for 10 consecutive days, with a cumulative net inflow of US$705 million. On March 18 alone, it attracted more than US$218 million in net inflows.
The S&P and Nasdaq fell below their 200-day moving averages after Trump's tariff remarks sparked panic! Trump officially announced a 25% tariff on imported cars and auto parts through a customs statement. The tariffs will expand the global trade war, and the new tariffs will take effect on April 2 - Trump emphasized that if cars are manufactured in the United States, no tariffs will be imposed, which will greatly promote U.S. employment and investment.
In addition, Trump also said that if the European Union and Canada take retaliatory tariff measures, he will consider imposing higher tariffs. This series of remarks has made the market feel more panic, and the global environment is full of uncertainty.
Note: All content represents the author's personal views only, is not investment advice, and should not be construed in any way as tax, accounting, legal, business, financial or regulatory advice. Before making any investment decision, you should seek independent legal and financial advice, including advice on tax consequences.
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