Bitcoin. A digital promise, a flickering candle in the drafty halls of Wall Street. On this eighth day of April, the year of our Lord 2025, it danced – a grotesque jig, I say – around the $80,000 mark. Like a peasant before a capricious Tsar, it awaits the whims of American stock markets, themselves trembling before the unresolved agonies between the Dragon and the Eagle. A grand spectacle of futility, wouldn’t you agree? 🎭
Hayes: The Echoes of China’s Past in Bitcoin’s Future
The data, those cold, soulless numbers from CryptoMoon Markets Pro and TradingView, reveal a temporary ceasefire in Bitcoin’s tumultuous existence. Volatility, that old companion, has momentarily retreated. Meanwhile, the S&P 500 and Nasdaq Composite Index, bloated with the hubris of capitalism, celebrate minor victories. A fool’s parade, I tell you! 🤡
These stocks, fueled by the fumes of TradFi trading, dared to dream of averting a 1987-style “Black Monday” cataclysm. As if mere mortals could control the tides of fortune! Such arrogance! 😠
But the specter of US trade tariffs looms large, poisoning the air with uncertainty. The incessant bickering with China, a war of words as hollow as it is deafening, preoccupies the minds of traders. A most pathetic squabble. 🥊
On Truth Social, that digital echo chamber of delusion, the American President proclaims that Beijing “wants to make a deal, badly, but they don’t know how to get it started.” The arrogance! The naiveté! One can only weep. 😭
“We are waiting for their call,” he declares, as if the fate of nations hangs on a telephone ringing in the dead of night. Oh, the vanity! 🤦
Bitcoin’s disciples, ever the optimists, cling to the hope that the yuan‘s inevitable devaluation will trigger a torrent of Chinese capital flight, seeking refuge in the digital sanctuary of BTC. A desperate gamble, no? 🤞
Arthur Hayes, once a captain of industry in the crypto realm, now a prophet on X, suggests that the Dragon’s monetary policy, or the Eagle’s Federal Reserve, will ultimately provide the fuel for Bitcoin’s next ascent. A most dubious proposition! 🤔
“If not the Fed then the PBOC will give us the yachtzee ingredients,” he proclaims, in his characteristic style. As if the fate of mankind rested on a game of chance! What a joke! 😂
“CNY deval = narrative that Chinese capital flight will flow into $BTC. It worked in 2013 , 2015, and can work in 2025. Ignore China at your own peril.”
The Fed, meanwhile, might deign to bestow its blessings upon Bitcoin and other risky ventures by lowering interest rates, a desperate attempt to stimulate a flagging economy. AllianceBernstein, those titans of finance, predict such a move, even as tariffs drive inflation skyward. A most cynical calculation! 😈
“If the economy slows, as we expect it will, the Fed will be inclined to cut rates even if price levels are high,” writes Eric Winograd, a man burdened with the title of Developed Market Economic Research director. A weighty burden, indeed! 🏋️
“The view is that actual inflation tells us what the economy was doing but not what it will do. The Fed has cut rates before with inflation elevated, and we expect it to do so again unless—a very big ‘unless’—inflation expectations become unanchored.”
Winograd anticipates 75 basis points of rate cuts in the year 2025. The markets, those gambling dens of the modern age, are already placing their bets on the Fed’s June meeting. A spectacle of greed and desperation, I say! 🤑
Fibonacci’s Whispers: A Level to Watch, or a Siren’s Song?
Amidst the global chaos of these past three days, Bitcoin’s price action has remained strangely calm. A deceptive calm, perhaps. Short-lived bursts of activity have given way to a weary consolidation. A most unsettling stillness. 🤫
For traders, the 0.382 Fibonacci retracement level, hovering near $73,500, holds some mystical significance. A line in the sand, drawn by the hand of fate? Or merely another illusion? 🤔
“In a bull market, the 38.2% Fibonacci retracement acts as key support,” proclaims Titan of Crypto, a self-proclaimed guru of the digital age. Bitcoin, he claims, is “in a reversal zone.” Such certainty! Such hubris! 🙄
“As long as BTC closes above it, the uptrend remains intact, even with a wick below.”
Daan Crypto Trades, another luminary of the crypto cosmos, echoes this sentiment. The level, he claims, coincides with old all-time highs from March 2024. A convergence of forces, or a mere coincidence? 🤷
“$BTC Has respected its .382 Fibonacci retracements, measured from the cycle bottom to the local tops, quite well so far,” he declares to his digital flock. A most dubious assertion! 🤨
“This is the 3rd time we get such a test this cycle. This time we got some confluence from the 2024 highs as well. Big level to watch.”
Other lines of significance, according to CryptoMoon, include the 200-day simple moving average (SMA), a classic bull market support line that was lost when Bitcoin first succumbed to the siren song of $82,000. A most tragic fall! 📉
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2025-04-08 18:57