The culprit of the crash! Will Bitcoin plummet by $79,000 next week? Altcoins in freefall! Cut losses vs. hold strong! Where is the turning point for the April surge?
Over the weekend, as Bitcoin's price dropped, the market panicked a bit.
In the two days over the weekend, Bitcoin fell over 8%, briefly dropping below $83,000, with mainstream coins like Ethereum and SOL also plunging over 10%.
A total of 73,215 people were liquidated across the network, with a total liquidation amount of $176 million.
The culprit of the crash: Three 'nuclear bombs' triggered a chain reaction
1. Trump's tariff bomb
The car tariffs originally scheduled to be implemented on April 2 were leaked early, and although the actual tax rate may be lower than expected, the market still panicked and sold off risk assets. More devastatingly, after the founder of Trump Coin made a high-profile marketing push, a sudden sell-off triggered a trust crisis for 'political concept coins,' and panic spread throughout the market.
2. Massive options expiration
On March 28, the quarterly expiration day saw a total of $9.5 billion in options expire, with Bitcoin's biggest pain point at $85,000, leading traders to frantically sell off to maximize profits. Ethereum's $2,000 call options collectively went to zero, and the derivatives market experienced a double kill, triggering a chain liquidation on-chain.
3. Technical death cross (structural nuclear explosion)
Bitcoin's daily EMA30 and EMA120 formed a death cross, confirming a weekly MACD divergence signal. After losing the key support level of $84,600, it triggered algorithmic trading programs to automatically sell, forming a 'drop-liquidation-drop' death spiral.
Bitcoin is currently under pressure at $83,000, with liquidity exhausted, leading to expanded volatility. Altcoins may face even more severe selling pressure, currently also dropping below the logarithmic trend line; the linear trend line is currently acting as support, approximately at $81,600. Looking further down, we expect Bitcoin to form a triple bottom starting with 7.
We are currently in a vague phase before Trump's tariffs on April 2. Before this, due to the uncertainty of what specific tariffs Trump would implement, all major capital has been quite cautious, and some particularly cautious investors have been scared off.
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