Bitcoin hit $86.4K on April 2 as markets waited for Trump’s tariff announcement.
Analysts say BTC is nearing a breakout, but macro uncertainty keeps sentiment cautious.
Swissblock warns of a possible drop to $76K if Bitcoin reacts poorly to broader market moves.
Bitcoin isn’t sitting still. On April 2, just as Wall Street opened and markets braced for Trump’s long-teased tariffs, BTC jumped past $86,400, marking a new high for the month.
Yep, BTC was flexing—though not without a bit of wobble. Volatility stayed high as investors eyed what could be a pivotal day for both crypto and broader markets.
Trump’s big tariff reveal, dubbed “Liberation Day,” is expected at 4 p.m. Eastern, straight from the White House Rose Garden. There’s a press conference right after too—so, yeah, buckle up.
JUST IN: Bitcoin $BTC reclaims $87,000 despite macro fear over President Trumps ‘Liberation Day’ tariffs 👀🚀 pic.twitter.com/ZMusAK1YQX
While U.S. stocks opened slightly lower, Bitcoin made up some ground, bouncing around a zone loaded with key technicals—stuff like the 200-day SMA, which, for now, is still in the rearview. That moving average is typically seen as a long-term support line in bull markets… but BTC dipped under it recently.
Chart watchers haven’t been sleeping. Rekt Capital, a widely followed analyst, noted that Bitcoin is still consolidating between the 21-week and 50-week EMAs, but things are shifting.
“The 21-week EMA is declining, now sitting at $87,650,” he posted on X. “That slope actually makes it easier for Bitcoin to break above it.”
And if BTC can close above that level and retest successfully? That could kickstart a brand new technical uptrend, he added. No guarantees, but the momentum’s been building.
RSI Broke Its Downtrend, But Is That Enough?
Another signal: Bitcoin’s daily RSI, which finally broke out of a months-long downtrend that started back in November 2024. That’s usually a bullish signal… though, let’s be real—it’s not a magic wand.
Macro Mood? Meh.
Meanwhile, QCP Capital isn’t exactly popping champagne. In a message to Telegram subscribers, they said risk assets still look shaky, and crypto’s mood? Pretty flat.
“BTC trades without conviction. ETH is just clinging to that $1,800 support. Lots of coins are still down 90% YTD—and some dumped 30% just last week.”
Without a major macro shift or a clear bullish trigger, they’re not expecting fireworks. And they’re definitely not chasing the green candles just yet.
Worth noting: in Q1, every time a Trump tariff headline dropped, Bitcoin usually took a hit.
Swissblock: Not All Doom and Gloom
Still, not everyone’s feeling the bearish weight. Swissblock, an asset management firm, pushed back a little.
“No signs of imminent collapse,” they said in an X thread, pointing out that BTC might still hold its own—even if traditional markets wobble.
That said, they did flag a potential drop back to $76,000 if things go south—an 11% slide from current levels. And they framed BTC’s current setup as being at a bit of a fork-in-the-road moment.
Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.
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