When BTC Dances with Tariffs: Will She Rebound in Style or Trip on Her Tutu?

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Oh, the melodrama of it all! 🎭 Bitcoin (BTC), the belle of the crypto ball, has taken quite the tumble, pirouetting from a lofty $99,500 to a rather humble $91,231. One might think she’s been caught in a particularly vicious round of musical chairs with Uncle Sam’s trade tariffs playing the tune. 🎶 But fear not, dear reader, for there are whispers of hope amidst the chaos. Some say BTC has merely been practicing her oversold curtsy, ready to leap back into the limelight with a grand jeté. 💃

Yesterday, the crypto market, a place where dreams are made and shattered in equal measure, experienced what can only be described as a day of reckoning. Over $2.3 billion in liquidations left more than 742,000 traders clutching their pearls, wondering if they’d ever see the light of day again. And yet, in the midst of this carnage, a glimmer of possibility. Could this be BTC’s moment to shine once more? 🌟

Crypto analyst Caleb Franzen, a man who knows his way around charts and indicators, has pointed out something quite intriguing. It seems Bitcoin’s 4-hour Relative Strength Index (RSI) has decided to take a dip into the oversold pool. And if history is any indication, each time this has happened before, it’s been a splendid opportunity for those with the courage to accumulate. Even if BTC did momentarily lose her footing and stumble a bit lower. 🤕

The RSI, oh how we love its fickle nature! A tool designed to measure the speed and extent of recent price changes, it tells us when BTC has perhaps danced too much, leaving her breathless and in need of a break (overbought) or when she’s been sitting on the sidelines too long, waiting for her turn to shine (oversold). A reading above 70 suggests she’s ready for a sit-down, while anything below 30 indicates she’s chomping at the bit to get back into the fray. Franzen’s chart reveals BTC’s current RSI is lounging around 24 on the 4-hour timeframe, suggesting our leading lady may just be biding her time, ready to dazzle once more. 💁‍♀️

But wait, there’s more! Donald Trump and Claudia Sheinbaum, two political powerhouses, have decided to give BTC a temporary reprieve by delaying their proposed trade tariffs. However, the specter of uncertainty still looms large, particularly concerning Canada. Will BTC rise like a phoenix from the ashes or will she falter under the weight of impending doom? 🐦🔥

Johnny, another crypto connoisseur, believes that BTC has weathered the worst of the storm. As long as she stays above her range lows and the yearly open, she’ll look positively radiant compared to the rest of the market. A true diva amongst mere mortals. 💄

Yet, amidst the optimism, there’s a dissenting voice. Robert Kiyosaki, a man known for his financial acumen, warns that BTC’s dance card may not be full just yet. If Trump proceeds with his tariff plans, it could strengthen the US dollar, sending BTC and her ilk into the shadows once more. At the time of writing, BTC is trading at $98,644, a modest 0.4% increase over the past 24 hours. Will she continue her ascent or will she fall victim to the whims of the market? Only time will tell. 🕰️


When BTC Dances with Tariffs: Will She Rebound in Style or Trip on Her Tutu?

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2025-02-04 06:41