Bitcoin Faces Potential Reversal Despite Recent Gains
Bitcoin’s price has risen recently, but a risky pattern suggests a possible downturn. On April 15, BTC hit $85,630, a 15.2% jump from its monthly low. This rally followed Donald Trump’s softer stance on tariffs. He paused tariffs on over 70 countries for 90 days and exempted electronics and semiconductors. Trump also backed automakers dealing with tariffs.
These moves boosted stocks and cryptocurrencies. S&P 500,dow Jones,and Nasdaq 100 futures rose.However,a looming “death cross” could change this trend. A death cross happens when the 50-day average drops below the 200-day average. the gap between these averages is just 472 points, hinting at a potential crossover.If it happens, Bitcoin might fall to $74,500, a 13% drop. Yet,breaking above both averages could push BTC to $90,000. The S&P 500 also shows a similar pattern, which historically signals more losses. The last time was in 2022, leading to a 17% drop.
Gold shines as a safe haven. It hit a record $3,245, up 20% this year. Central banks and investors favor gold. Goldman Sachs sees it reaching $3,700. Countries like India and Turkey are buying gold.ETFs like GLD and IAU attract more investors. The Swiss franc is also gaining as a safe asset.
Trump’s tariff pause and exemptions lifted markets. But this bullish run may not last. A death cross in the S&P 500 in 2022 caused a 17% fall. If Bitcoin follows, it could struggle. Gold’s rise shows investors prefer safety over risk. Central banks in India, Turkey, Russia, and China are stockpiling gold.
gold’s strength comes from central banks and investors buying it. Countries like India and Turkey are adding to their reserves.Top gold ETFs like GLD and IAU are also popular. This makes gold a safer choice than stocks, bonds, and Bitcoin.The Swiss franc is also a safe haven, reaching its highest in over a decade.
