The post Bitcoin Price Pressure: Short-Term Support at $80,000 Amid Fed Chairman Powell’s Market Concerns appeared on BitcoinEthereumNews.com.

In a recent update from COINOTAG on April 5th, Federal Reserve Chairman Jerome Powell indicated that there would be no immediate changes to monetary policy in light of President Trump’s latest trade tariffs. This statement also suggests that a quick interest rate reduction is unlikely, especially amid ongoing market turbulence and recession apprehensions. The cryptocurrency market has already been influenced negatively by fears over the “global trade war” and a resultant “pullback in U.S. equities.” Powell’s commentary has further dampened expectations for a lax monetary environment, which traditionally supports bullish trends in crypto markets. According to Bitunix analysts, Bitcoin (BTC) currently faces resistance within a critical price range of $84,500 to $83,800. The immediate support level is pegged at $80,000; a failure to maintain this threshold could push BTC into a more pronounced correction phase. Market participants are advised to exercise caution, implement strict stop-loss strategies, and closely monitor developments before adjusting their trading positions in this uncertain landscape. Source: https://en.coinotag.com/breakingnews/bitcoin-price-pressure-short-term-support-at-80000-amid-fed-chairman-powells-market-concerns/

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Filed under: News - @ April 5, 2025 7:28 am