Warning! Warning! Bitcoin breaks new highs but rebounds weakly! Is it about to fall below 100,000? Are new tariffs the fuse?
$BTC First, Bitcoin has been relatively sluggish in the past few days. After breaking new highs last week, it has been in a range-bound consolidation state. However, after announcing a decision not to cut interest rates next month, the market has been in a downtrend. Under such news circumstances, Bitcoin quickly rebounded after testing the bottom support yesterday and broke the current new high but still cannot stand firm, continuing to pull back. Moreover, the trading volume for this breakout to new highs has noticeably decreased. Why?
The main reason is that the trade war initiated by the U.S. shows signs of heating up again, and gold, as a safe-haven asset, has risen in response. Most of the funds in the crypto market are flowing into gold!
This recent pullback breaking 107,000 is clearly a deep pit dug for everyone by the market makers!
It creates a false impression that Bitcoin is about to break through 110,000 USD!
The overall trend is still bullish, but everyone needs to be cautious when breaking new highs again. It is still not a bull market; the bull market is in the second half of the year! Only by testing the bottom again can there be a chance to break new highs!
According to media reports, U.S. Treasury Secretary Yellen issued a stern warning on Sunday, indicating that if countries do not "negotiate in good faith," the U.S. will restore the highest tariff levels announced by Trump on April 2. This marks a more aggressive stance by the U.S. in trade negotiations!
And this will become a key trigger! Everyone needs to stay vigilant; something big is about to happen. If you go in the wrong direction, you'll have to face it; holding onto your positions will become fuel!
Pay attention today: EPIC NEIRO OG
