Bitcoin price may reach new 5-month low near $71K due to market uncertainty

From Cointelegraph

April 9, 2025 10:56 AM:

Bitcoin (BTC) price surged to $78,300 amid volatile equities markets. US-China trade tensions caused BTC/USD to drop below $75,000 before rebounding. S&P 500 saw record-breaking intraday reversals due to tariff announcements. Markets reacted strongly to statements from President Trump, leading to unusual price swings.

The Crypto Fear & Greed Index hit its lowest level since early March, indicating high uncertainty. Trader Keith Alan remains cautious, expecting the market turmoil to persist. CME Group’s Bitcoin futures chart showed a resistance gap between $82,000 and $85,000. BTC price range now sits between $71,000 and $83,000 based on trading volumes.

Analyst Rekt Capital suggests a potential long-term reversal point around $70,000 for Bitcoin. Market conditions remain uncertain, with investors feeling uncomfortable in the current environment. The CME Gap acts as a resistance level for BTC price above $82,000. Traders are advised to conduct their own research before making investment decisions.

Read more at Cointelegraph: Bitcoin price at risk of new 5-month low near $71K if tariff war and stock market tumult continues