Bitcoin has shown resiliency against recent macroeconomic headwinds. After dipping to around $74,500 on April 7, BTC has recovered since then and is currently above $84,000. This represents a 4% increase for the past week despite continued uncertainty about global tariffs.
The subdued rally appears to reflect cooling fears over the broad impact of trade tensions. The market watchers suggest that ongoing talks between global leaders and the administration of President Trump could be easing investor anxiety.
The Crypto Fear & Greed Index has also moved up slightly, to 30. This is still technically in “Fear” territory but may indicate that market participants are gradually showing an interest in cryptocurrencies once more.
At the same time, Bitcoin futures open interest has increased from near-term lows, adding another layer to the risk-averse optimism.
Coinbase: Market Can Become Bullish by Q3 Even During Existing Downtrend
Coinbase recently released a report casting conditions as bearish. The exchange reported a 41% decline in altcoin market capitalization since December, coupled with weak venture capital activity and tighter fiscal settings.
According to Coinbase, these conditions with geopolitical tensions have kept crypto markets low. However, the report also shows that this downtrend may not last much longer.
Coinbase’s sentiment is more bullish for the latter half of the year, citing historical cycles where sentiment reversals were the drivers behind major rallies. Easing trade tensions and continued institutional access to spot Bitcoin ETFs are probably catalysts the report points to for a more widespread market bounce.
Supporting this report, popular crypto analyst Ash Crypto posted a chart showing the performance of Bitcoin versus gold and highlighted how Bitcoin is closely in sync with gold. He speculated that the setup might be in place for a dramatic bull cycle but that this needs to be taken speculatively at best.
BTC Bull Token Regains Momentum as Bitcoin Stabilizes
In the wake of Bitcoin’s latest price recovery, other around-the-corner crypto projects have also begun gaining momentum. One such project is BTC Bull Token, which has raised over $4.7 million through an ongoing presale.
The project has based its roadmap on the performance of Bitcoin and, in the process, aims to reward holders with Bitcoin and its native tokens if BTC reaches certain price levels—i.e., $150K, $200K, and $250K.
The tokenomics also include a staking mechanism and deflationary mechanisms such as burning of the tokens. According to the project’s road map, its protocols have been audited by Coinsult and SolidProof.
Community opinions are observed to be interested in projects that track the price movement of Bitcoin, but investors need to analyze the risk factors independently, especially in the case of early-stage tokens.
