- Over 30,000 BTC has been withdrawn from exchanges as whales accumulate, signaling potential bullish momentum.
- Bitcoin price drops to $82,463, testing key Fibonacci levels amid bearish signals and declining trading volume.
- Trump’s new tariffs on imports spark market turmoil, affecting $1.5 trillion in goods and reshaping global trade.
Popular crypto commentator Ali Martinez has spotted a significant Bitcoin trend in the past week: over 30,000 Bitcoin (BTC) have been withdrawn from exchanges. This high exchange movement comes amid President Donald Trump’s recent regulatory rollouts, as crypto expert Captain Faibik expects BTC to set a new all-time high (ATH) soon.
Bitcoin Whales Accumulate as Experts Predict Bullish Breakout to $109K
Ali recently revealed that over 30,000 BTC was withdrawn from exchanges in the past seven days. Large exchange withdrawals often indicate that whales or institutional investors are accumulating Bitcoin holdings. Hence, this current trend could be a precursor for potential bullish momentum. Bitcoin’s reduced supply could create scarcity, thus triggering a northbound price movement.
In light of this, crypto expert Captain Faibik has urged market participants to add Bitcoin to their portfolios. In a recent X post, Faibik stated,
BTC Buying now is better than Regretting it late.
The crypto expert also explained:
big players have been heavily accumulating Bitcoin, while Newbies are still waiting for another dip
He noted that the BTC has consolidated within a falling wedge pattern in the past four months. Faibik believes that Bitcoin’s correction is nearly complete, setting the tone for its next bullish trend. The analyst added that BTC could break out from the falling wedge pattern by the end of April, setting a new all-time high (ATH) of $109,000.
Bitcoin Price Dips Amid Market Correction, Testing Key Fibonacci Levels
Per CoinMarketCap data, Bitcoin trades at $82,463, following a 5.56% slip in the past seven days. During that period, the BTC trading volume slipped from $1.73 trillion to $1.63 trillion. Additionally, its volume crashed from $22.7 billion to $21.39 billion. Due to the recent price slippage, BTC’s 24-hour volume to market cap ratio has dropped to 0.0193, indicating medium liquidity.
BTC price movement in its intraday chart shows a steep bearish reversal from its resistance mark. This trend intersects with the 200-day EMA at nearly $85,500 and the 67.8% Fibonacci level at $86,145. Moreover, these consecutive bearish candle trends have pushed the Bitcoin price close to the 50% Fibonacci level of $79,957. Despite the bearish trend, the lower price action in the last three candles signals a possible Bitcoin price reversal.
However, the downturn has sparked a bearish MACD and signal lines crossover, which usually precedes a steep market correction. At the same time, the 50-day and 200-day EMA trends are dropping, potentially leading to a golden crossover.
Trump’s ‘Liberation Day’ Tariffs Reshape Global Trade, Trigger Market Reactions
Trump’s 11th week in office is headlined by his forthcoming “Liberation Day” on April 2, when he will announce “reciprocal tariffs” on trade partners. This includes a 20% import levy for more than 25 countries. Over the next month, these impositions could affect over $1.5 trillion in imported goods.
Not long ago, the president placed a 25% tariff on steel and aluminum imports. Goods imported from Canada and Mexico also faced a 25% levy, with China imports levied at 20%. Taking effect from Wednesday, all vehicles imported into the US will be slammed with a 25% tarrif.
President Trump argued that tariff impositions would protect American production and create employment opportunities. Since his inauguration, Trump has implemented several regulatory changes and upended the global financial markets.
