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Another wild 24 hours in the markets — rallies, fake headlines, circuit breakers, bear markets. This past week will be one for the history books, a case study in volatility and sentiment whiplash.
Crypto didn’t start strong. Bitcoin closed the previous day down 7%, with most altcoins falling over 10%. The selling pressure spilled into yesterday, dragging BTC to a new low of $74.5K — its lowest since 7 November. At that point, Bitcoin was down 5% on the day and looked set to close red. But then came the sharp reversal.
BTC surged to an intraday high of $81.2K on headlines that tariffs were set to be delayed. Unfortunately, the headlines turned out to be fake — confirmed within minutes by the White House. Bitcoin swiftly fell back below $80K. It was a day of extreme volatility, with nearly a 10% swing between the high and low. The market remains in extreme fear, currently reading 24 on the Fear & Greed Index.
The strength Bitcoin is showing is quite astonishing, given the broader macroeconomic backdrop and traditional market reactions — definitely something to keep an eye on.
Bitcoin and the S&P500 both rallied 5% in the wake of the initial (fake) tariff report — only to give it all back just as fast.
Traditional markets were hit even harder. Hong Kong’s stock market had its worst day since 1997, plunging over 13%. Singapore saw its worst day in 16 years, while China experienced its most severe crash since 2008. The S&P500 officially opened in bear market territory. Panic was widespread. Japan’s Nikkei 225 futures were suspended, Taiwan halted trading, and Thailand temporarily banned short selling. Despite the chaos, Japan’s stock market has opened this morning up 6%, highlighting the volatility and fragility of sentiment.
The current headline dominating markets: Trump is threatening China with additional tariffs — a 50% increase by 9 April if China doesn't remove its 34% reciprocal tariffs on the US.
JUST IN: China responds, stating they "will fight to the end" against tariffs. This confirms they will not be removing their 34% tariffs on the US…
Despite the panic, the White House expects markets to find a bottom soon. Both Trump and Jim Cramer are urging investors not to panic. While neither are Warren Buffett, it’s still sound advice. These are the moments when smart money enters the market — accumulating Bitcoin and high-conviction altcoins at major discounts.
Below $80K is proving to be a key accumulation zone for Bitcoin. The demand is strong, and waiting for lower prices may leave you sidelined. These are the kind of levels where generational wealth is quietly built. Use the opportunity.
Stormrake Spotlight: Ripple (XRP) ($1.86)
Stormrake Spotlight: Ripple (XRP) ($1.86)
Despite Bitcoin closing green yesterday, XRP printed a red candle and continues to drift lower. As anticipated, it tapped the key support zone highlighted yesterday at $1.63, and has since bounced. The range between $1.45–$1.63 is a significant demand zone and should be viewed as prime accumulation territory for long-term XRP bulls.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Yesterday’s volatility played out in full: BTC broke down below $81.6K, swept March’s low, and tagged the monthly CPR support line — which provided a textbook bounce. That bounce, triggered by the fake headline, briefly pushed BTC back to retest $81.6K resistance, but the level rejected price once again.
Currently, BTC sits below the 55 EMA and looks likely to fall beneath the 21 EMA as well. Momentum and structure remain in bearish control. Key level to watch remains the CPR support at $74.5K — BTC must hold here.
BTC Total ETF Flows for 7 April: $ - 97.7 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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