Bitcoin’s surprise rebound to $81,180 — which was influenced by fake news regarding a pause on US tariffs — has all but evaporated following White House confirmation that 104% tariffs on China will start on April 9.
S&P 500 drops intra-day gains follow White House tariff confirmation. Source: X / Kobeissi Letter
After dropping below the $75,000 level for the first time since Nov. 6, 2024, BTC retested a key demand zone that traders hope will provide a safe haven for the bulls.
The safe haven is a fair value gap located between $77,000 and $73,400, and this zone was created during the November 2024 Trump pump.
BTC/USD daily chart. Source: Cointelegraph/TradingView
MN Capital founder Michael van de Poppe had earlier asserted that Bitcoin needed to retest this zone “before going back upward.”
“Bitcoin attacking $80,000 is a strong sign,”