SteemitCryptoAcademy-Bitcoin and Crypto Markets Analysis - April 7, 2025
Hello steemians,
Technical status of Bitcoin (BTC/USD)
Bitcoin shows its strength by remaining above the weekly 50 moving average (50 EMA) at around $71,451.07, reflecting significant medium-term support, a weekly close above this level is considered positive, especially if accompanied by a long candlestick tail, which is a bearish rejection signal.
The key level to cross to support a positive rebound is $89,318.54, if this level is crossed, Bitcoin could target $94,947.90, then $100,000, the final support lies at $71,451.07, and this level should appear as a candlestick tail and not a weekly close below, otherwise the price could head towards $60,000.
Pressure from Altcoins
Bitcoin's dominance reached 63%, meaning capital was flowing from altcoins to BTC, weakening it further. This is due to investors' risk aversion amid economic uncertainty and a focus on Bitcoin as a relative safe haven.
Altcoins could see further declines unless market sentiment improves, either through interest rate cuts or a strong rise in Bitcoin.
Fundamental factors (news and monetary policies)
Markets are awaiting an interest rate cut from the Federal Reserve, as global markets, including digital markets, are under pressure due to tight monetary policies, any signs of interest rate cuts could trigger a rally in gold, stocks and cryptocurrencies, traders are focusing on inflation data and the upcoming Federal Reserve meetings to determine the next direction.
If the Fed continues its tightening policy, borrowing investors could increase their sales, thereby increasing pressure on the markets.
Conclusion and recommendations
Bitcoin is heading towards testing the 89K level as a reversal target, with final support at 71K, it is best to buy on the support with tail confirmation, or wait for a breakout of 89K.
When it comes to altcoins, it is recommended to avoid purchasing them until there are signs of Bitcoin stabilizing or improving economic conditions.
News regarding the Fed and inflation should be watched closely as they are currently the main drivers of the markets.
"Liquidity is king in bear markets, and Bitcoin is consuming it at the expense of altcoins." — Shbencrypto.
Dear professor @kouba01
It is a very informative and useful analysis that describes the effects of Bitcoin, the effects of Alt County, and the impact of financial policies very well. Particularly identifying 89K and 71K levels helped us make better trade decisions. Highlighting the importance of liquidity in the market is also a very important point. Many thanks for your hard work and guidance. Waiting for more analysis.