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Bitcoin About to Explode? US Dollar Trips Over Its Own Shoelaces – Here’s What Happens Next!

BBG News

You know Bitcoin (BTC)? That alleged digital gold people swear will “replace the dollar” any day now—mainly while staring at screens full of green and red numbers while quietly weeping? Well, BTC hovered nervously around $84,000 as Wall Street’s finest opened their doors on April 16. Some are claiming that the US dollar has caught a nasty case of stage fright, and this could lead to a bull run so glorious you might actually forgive your uncle for trying to explain blockchains at Thanksgiving. 🙄

Bitcoin Analysis: Deja Vu or Just Déjà Oops?

With the subtlety of a skip in a record, data from CryptoMoon Markets Pro and TradingView painted a picture of BTC consolidating—by which everyone means “staring at the ceiling, whistling, and avoiding eye contact”—after it tripped and tumbled from local highs the previous day. No surprise, given the never-ending US-China trade tiff, which seems to be the financial equivalent of two toddlers fighting over a toy nobody’s actually sure they want.

Crypto and risk assets, instead of being bold and intrepid, are cowering in the corner every time President Trump tweets. The S&P 500 and Nasdaq Composite have both decided to take up synchronized diving, being down 1.4% and 2.2%, respectively. Gold, however, heroically rushed to new all-time highs above $3,300 an ounce—possibly because you can’t print gold, and it’s shiny.
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Trading firm QCP Capital, having a talent for stating the obvious, shared on Telegram:

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Those desperately in need of hope (and perhaps a vacation) have focused on the US dollar’s flawless impression of a boulder rolling down a hill. The US dollar index (DXY) loitered suspiciously near multi-year lows, hesitating to reclaim the magical “100” mark—presumably because it left its ID in another pair of pants.

Popular trader BitBull, who definitely answers support emails with GIFs, pointed out:

“DXY is dropping at its fastest pace since 2023.”

Back then, Bitcoin and the altcoin posse collectively shrugged off 2022’s misery, climbed out of their pit, and staged a 200% rally. BitBull, ever the optimist, followed up:

“I guess it’s time for BTC to repeat the 2023-24 rally.”

Andre Dragosch of Bitwise, clutching a sheaf of papers from Goldman Sachs like a magic talisman, interjected: Goldman’s math says the dollar is still “significantly overvalued.” If true, there’s room for the USD to go on a diet. In theory, this means there’s space for Bitcoin to bulk up at the crypto gym. 💪

“Lots of room for USD depreciation = upside potential for BTC to re-rate.”

BTC Price: Nervous Bull, or Just Caffeinated?

Some chart-watching savants (or wizards, depending on your opinion of technical analysis) are seeing “positive signals.” You know, like spotting cloud formations and predicting rain. Trader Luca noticed a mystical “Inverse Head & Shoulders Pattern” forming on the 4-hour chart… if BTC manages to hold a “Higher Low” in the coming days. If not? Well, at least the pattern was there for a bit. 😅

Meanwhile, trader and entrepreneur Michaël van de Poppe remains serenely hopeful for a retest of resistance—one of those euphemisms you hear a lot in crypto, like “consolidation” (awkward silence) or “roadmap” (vague hopes).

As he put it:

“The test at $87K did happen, and I think that we’ll see a big breakout once we’ll retest it again. What’s next? Likely a run to ATH at the end of this quarter.”

And there you have it: Bitcoin’s future rests on squiggly lines, indecisive dollars, and enough hope to float a small armada. Or, if things don’t pan out, there’s always gold. Or perhaps just a nap.

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2025-04-16 19:06

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