At the end of March, Bitcoin
$83,028 experienced a slight value loss, hovering around $83,000. The price initially surged to $88,500 but then retreated due to political uncertainties and economic concerns.
Market Developments
In March, while Bitcoin prices briefly rose, political tensions and Trump’s new tariff proposals increased selling pressure in the market. Statements by former SEC official Paul Atkins before Congress may have heightened investors’ risk perception.
Warning from BlackRock CEO
Larry Fink, CEO of BlackRock, warned that the status of the US dollar as the global reserve currency could be at risk due to rising national debt and budget deficits. He emphasized that high government interest payments might surpass defense spending, potentially redirecting investors towards alternatives.
“The global reserve status of the dollar is not guaranteed, and this year interest payments on government debt will exceed defense spending.”
Technical Indicators and Expectations
Bitcoin faced selling pressure at technical levels. The $90,000 resistance remains significant, while the possibility of dropping below the $67,000 support level could signal deeper corrections. Although parabolic indicators provide short-term negative signals, long-term expectations may still be bolstered by institutional accumulations.
With Bitcoin trading around $83,000, a cautious approach is anticipated in the market post-March. Economic developments and international political news can closely influence price dynamics.
Investors might consider technical indicators, support and resistance levels, and economic data when making decisions. As market dynamics could be volatile in the short term, careful monitoring is crucial.
Developments related to Bitcoin continue to evolve under the influence of both economic and political factors. Investors need to act cautiously, tracking global economic conditions and technical analysis data while closely observing market dynamics.