The Crypto Market Has Fallen Through the Ice
There is even more contrast between how Bitcoin is reacting to tariff threats now and in April. In April last year, Bitcoin rose alongside gold on the ‘sell America’ trade. Now, the first cryptocurrency looks even weaker than the stock market, as the S&P 500 has retreated from its high just over a week ago by only 3%. For comparison, BTC’s high was set more than three months ago and has since retreated by more than 30%.
The bearish picture is further underscored by the fact that the recovery rebound stalled at the classic 61.8% retracement of the autumn decline. At the same time, the pace of decline has increased significantly in recent days. In these conditions, it is worth being prepared for an imminent test of necessary…
