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Bitcoin Weekly Preview: Tariffs, Whales, And Volatility Ahead
- Market participants are gearing up for a turbulent week in the Bitcoin space due to various factors, such as looming tariffs and substantial BTC bid activity.
- US President Donald Trump is set to implement 'reciprocal tariffs' on April 2, potentially escalating trade tensions globally, leading to uncertainty and market volatility.
- Bitcoin traders are closely monitoring whale activity, with a notable interest in a whale strategy known as 'Spoofy the Whale' accumulating Bitcoin at current levels amidst market fluctuations.
- Technical analysts warn of a bearish flag breakdown in Bitcoin's price, with focus on key support levels around $81K and the potential for further price swings.
- Experienced market participants are observed to be entering a new accumulation phase, indicating a bullish medium-term outlook as historical data suggests low selling periods lead to price increases.
- The CME (Chicago Mercantile Exchange) gap formation remains a significant factor to watch, with recent gap filling between $82K and $85K potentially influencing Bitcoin's price movement in the coming week.
- The filling of CME gaps often acts as price magnets and may lead to Bitcoin moving towards $84K next week, depending on broader market conditions.
- At press time, Bitcoin was trading at $82,010, as traders brace themselves for potential market shifts amidst the various influencing factors.
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