- Bitcoin is showing short-term resilience despite tariff-driven market pressure, but its failure to break the multi-month downtrend perhaps raises the risk of further downside.
Despite pressure stemming from President Donald Trump’s recent tariffs, analysts at Bernstein note Bitcoin’s relative resilience, particularly on shorter-term time frames where a double bottom pattern suggests underlying bullish interest. Bitcoin’s ‘safe haven’ appeal may be resonating with investors more than previously.
However, the longer-term chart reveals price action still maintained within a multi-month downtrend. After briefly rising above $80,000 on April 9 (peaking at $83,000), the price has since pulled back, confirming last week’s losses and raising the risk of further downside.
For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.
