Recent developments in the Bitcoin market have led to increased uncertainty among investors. Prominent crypto analyst Michaël van de Poppe pointed out on Twitter a potential weakness in Bitcoin trading, which could be exacerbated by upcoming events surrounding former President Trump.
The Bitcoin market is currently under significant pressure as uncertainties surrounding political events are affecting investor sentiment. On March 30, 2025, Michaël van de Poppe, a respected crypto analyst, highlighted potential weakness in Bitcoin trading on Twitter. He suggested that the Bitcoin price could fall below the $80,000 mark as traders prepare for potential negative repercussions associated with upcoming events related to former President Trump on April 2, 2025.
At the time of the tweet, Bitcoin was trading at $82,345, down 2.5% from its peak of $84,450 on March 28, 2025. Trading volumes on major exchanges such as Binance and Coinbase saw a significant increase, with a total volume of $23.4 billion on March 30, 2025, compared to an average of $18.9 billion the previous week. This increase in volume indicates increased trader activity and potential market volatility in response to the anticipated event.
Additionally, the Bitcoin Dominance Index, which measures Bitcoin’s market share compared to other cryptocurrencies, showed a value of 47.2% on March 30, 2025, representing a slight decrease from 48.5% on March 25, 2025. This indicates slight investor interest in altcoins. On-chain metrics also showed an increase in active addresses, with 1.2 million active addresses on March 30, 2025, indicating increased network activity.
The Bitcoin hash rate, a measure of network security and miner activity, remained stable at 350 EH/s on March 30, 2025. The Fear and Greed Index, which measures market sentiment, was at 45 (fear) on March 30, 2025, reflecting a decline from 52 (neutral) on March 28, 2025, indicating growing concerns among investors.
Van de Poppe also mentioned the possibility that the market could turn and fear could subside, leading to a recovery in the Bitcoin price. However, the immediate market reaction to his tweet was a further decline in the Bitcoin price to $81,980 by the end of the trading day on March 30, 2025. The BTC/USDT trading pair on Binance recorded a volume of $12.5 billion on March 30, 2025, while the BTC/ETH pair on the same exchange recorded a volume of $1.8 billion, indicating a preference for stablecoin trading over altcoin trading.
The Relative Strength Index (RSI) for Bitcoin was at 42 on March 30, 2025, indicating that the asset was neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover on March 30, 2025, with the MACD line falling below the signal line, suggesting potential further downside. The Bollinger Bands for Bitcoin widened on March 30, 2025, with the upper band at $85,000 and the lower band at $80,000, indicating increased volatility.
The 50-day moving average for Bitcoin was at $83,000 on March 30, 2025, while the 200-day moving average was at $78,000, indicating that the short-term trend is still above the long-term trend. The on-chain metric of Bitcoin supply on exchanges decreased to 2.3 million BTC on March 30, 2025, from 2.4 million BTC on March 29, 2025, suggesting that investors are withdrawing their holdings from exchanges, possibly in anticipation of a price decline.
The average transaction fee for Bitcoin transactions was $2.50 on March 30, 2025, compared to $2.00 on March 29, 2025, indicating increased network congestion. The total cryptocurrency market capitalization was $2.3 trillion on March 30, 2025, compared to $2.4 trillion on March 28, 2025, reflecting the broader market’s reaction to Bitcoin’s weaker trend.
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