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Recent discussions surrounding potential impacts from new tariffs imposed by Trump on global markets indicate a prevailing pessimism. While many market observers predict a downturn, questions arise about whether the bull markets have truly come to a halt. Key levels and indicators suggest that this trend may not have decisively shifted towards a bearish outlook.
Cryptocurrency Bull Markets Persist
From 2023 through late 2024, various altcoins have experienced extraordinary growth, with Bitcoin (BTC) reaching unprecedented prices after a tumultuous period characterized by crashes and insolvencies. For instance, SOL Coin surged from $8 to around $300, while many cryptocurrencies achieved returns of four to five times their value.
What Technical Indicators Suggest About the Market?
Critics claiming the end of the bull market point to the conclusion of the four-year cycle. However, multiple bullish factors are on the horizon. The Mayer Multiple has identified $66,000 as a critical support level after BTC fell below its 200-day Simple Moving Average (SMA). If a genuine bull market develops, it may mimic the 2021 surge, albeit with potential hardships for altcoins similar to those seen in 2020.
- Global liquidity increases could support a market rebound.
- BTC’s movement towards cash bonds indicates a shift in market dynamics.
- A supportive level at $93,700 might pave the way for a rise to $111,000.
As uncertainty rises following the implementation of tariffs on April 2, liquidity is expected to re-enter risk markets gradually. Consequently, the prospect of a market rebound remains plausible despite the current bearish sentiments.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
