Crypto Outlook: Trump’s comments and their impact on Crypto

Since our last report, the bullish momentum driving Bitcoin’s price appears to have dissipated, with President Trump’s tariff ambitions potentially souring the Bull’s mood. In this report, we aim to shed light on the possible factors aiding to the recent developments in combination with a technical analysis of Bitcoin.

Trump’s tariff policies to startle the crypto markets?

The recent comments made by President Trump in regards to an imposition of a 25% tariff on aluminium and steel imports according to the Financial Times. The uncertainty surrounding President Trump’s economic and foreign policy, as seen by his recent actions in regards to tariffs, may be of concern to investors. As such, riskier assets such as cryptocurrencies and in particular Bitcoin, may be facing outflows, as investors may opt for safer stores of value such as Gold. In turn, this may have weighed on the coin’s price.

Czech National Bitcoin Reserve?

According to Euractiv, the Czech National Bank is evaluating the possibility of investing in Bitcoin. Specifically, Euractiv states that “the bank has commissioned a detailed analysis to explore new investment options, reflecting Bitcoin’s growing role as a global phenomenon”. However, Deputy Bank Governor Zamrazilova also stated that “We have commissioned an analysis to explore investments in different asset classes. This is not just about Bitcoin; it includes corporate bonds, real estate funds, the NASDAQ, technology indexes —essentially mapping out the available option”. Nonetheless, the possibility of central banks potentially investing in cryptocurrency’s and in particular Bitcoin, could in turn aid the coin’s price

Crypto Technical Analysis

BTC/USD Daily Chart

• Support: 92000 (S1), 85400 (S2), 76430 (S3)
• Resistance: 101295 (R1), 109300 (R2), 118000 (R3)

BTC/USD appears to be moving in a sideways fashion. We opt for a sideways bias for the coin’s price and supporting our case is the RSI indicator below our chart which currently registers a figure near 50. For our sideways bias to continue we would require the coin’s price to remain confined between the 92000 (S1) support level and the 101295 (R1) resistance line.

On the flip side for a bearish outlook we would require a clear break below the 92000 (S1) support level, with the next possible target for the bears being the 85400 (S2) support line. Lastly, for a bullish outlook we would require a clear break above the 101295 (R1) resistance line, with the next possible target for the bulls being the 109300 (R2) resistance level.

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リスク警告：

Crypto CFDs are an extremely high-risk, speculative investment and you may lose all your invested capital. Before trading, you need to ensure you fully understand the risks involved taking into consideration your level of experience and investment objectives. Seek independent advice, if necessary.