This tension continues to obscure its directional conviction,” it wrote in its latest bulletin to Telegram channel subscribers on the day. “As the macro narrative moves from protectionism toward renewed trade optimism, BTC could remain range-bound.”Others remained strong in their conviction over the general market trajectory, including Richard Teng, CEO of crypto exchange Binance.“While traditional markets recover, Bitcoin’s already leading the pack,” he told X followers while comparing returns since the April 2 “Liberation Day” enacted by US President Donald Trump as he unveiled reciprocal trade tariffs. “With double-digit gains following key global events, BTC is reinforcing its position as a resilient alternative asset—outperforming gold, the S&P 500, and the Nasdaq year-to-date.
Source: CoinGlassThe day prior, Daan Crypto Trades had forecast a retest of $102,000 based on liquidity clusters, a move which subsequently played out.“Bitcoin is stalling here for a little bit, which is completely fine,” crypto analyst and entrepreneur Michaël van de Poppe continued. “Even if it goes back to $97.5-98K, we'll still be in an uptrend and building up for new ATHs.”BTC/USDT 6-hour chart with RSI data.
The downside came despite the April print of the US Consumer Price Index (CPI) coming in below expectations in what should be good news for risk assets.“The all items index rose 2.3 percent for the 12 months ending April, after rising 2.4 percent over the 12 months ending March,” an official release from the US Bureau of Labor Statistics (BLS) confirmed. “The April change was the smallest 12-month increase in the all items index since February 2021.”US CPI 12-month % change.
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Author / Journalist: Cointelegraph by William Suberg
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