Bitcoin (BTC) centered on $84,000 at the April 16 Wall Street open amid hopes that a weak US dollar would fuel a bull market comeback.BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Bitcoin analysis calls for 2023 rally repeat
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after a swift comedown from local highs the day prior.
That volatility had accompanied ongoing developments in the US-China trade war, with crypto and risk assets staying sensitive to headlines and statements from parties such as US President Donald Trump.
The S&P 500 and Nasdaq Composite Index traded down 1.4% and 2.2%, respectively, at the time of writing.
Gold remained the standout winner, having set new all-time highs above $3,300 per ounce on the day.
“Unlike gold, BTC has not caught a safe-haven bid,” trading