Bitcoin (BTC) surged past $88,000 following the Wall Street open on March 25, as risk assets remained highly responsive to U.S. trade tariffs. Data showed that BTC/USD was firmly anchored at the daily opening price.
U.S. stocks started the day with slight gains, building upon a recovery that gave traders a glimmer of much-needed optimism. A significant factor in mitigating the decline of risk assets was news from the U.S. government and President Donald Trump regarding upcoming trade tariffs set to take effect on April 2.
“Risk assets experienced one of their strongest sessions this year, aided by a temporary alleviation of concerns surrounding the April 2 tariff deadline,” a trading firm summarized in its latest update to subscribers. “Trump indicated on multiple occasions that trading partners might receive exemptions or reductions, providing a relief that calmed market anxieties.”
Others, including JPMorgan, began to believe that the worst had passed for equity markets. “Historically, Q2—with April in particular—has been one of the strongest periods for risk assets, only trailing the festive rally in December,” they noted. “The S&P 500 has averaged an annualized return of 19.6% during Q2, while Bitcoin has also demonstrated its second-best median performance in this time, again following Q4.”
Expectations for Bitcoin’s performance in April are building among market participants, especially considering historical trends. Analytics indicated that average returns for BTC/USD during March and April have been just under 13% over the past eleven years.
As traders assessed short-term BTC price movements, attention increasingly shifted toward the $90,000 level. A prominent trader remarked in a recent post that “BTC is still trading at a healthy premium during this bounce. If it can maintain that momentum while gradually moving back into the previous range ($90K+), I’d be optimistic that new highs are on the horizon. For now, however, it remains a significant resistance point and is closely tied to equity market fluctuations.”
Meanwhile, ongoing sales pressure was observed just beneath the $90,000 mark, which had previously been linked to market manipulation by a high-volume trader known as “Spoofy the Whale.” One trading resource co-founder remarked that this entity could keep prices hovering around $87,500 in the near term.
This week, he pointed out that a crucial level to convert into support is the yearly open, slightly above $93,000. He cautioned that failure to achieve this could lead to a return to several-month lows.
This piece is not intended as investment advice. All investment and trading activities carry risks, and readers should perform their own research before making decisions.