Bitcoin Crosses $81K – Crypto Market Roars Back to Life
Bitcoin staged a comeback above $81,000 on April 7, tracking a broader market rebound after a turbulent start triggered by tariff concerns.
Echoing the resilience of U.S. equities, the cryptocurrency reversed earlier losses that had pushed it to five-month lows.
Stock markets in Asia had closed significantly lower due to the ripple effects of new U.S. trade tariffs. However, sentiment improved on reports suggesting a possible 90-day delay before the tariffs take effect, tied to ongoing discussions with over 50 U.S. trading partners. This provided a cushion for U.S. futures before the opening bell and helped avoid a sharp crash reminiscent of the 1987 “Black Monday.”
At one point, Nasdaq futures had plummeted nearly 7%, according to updates from The Kobeissi Letter. Despite this, the S&P 500 opened in bear market territory, down more than 20% from its February peak—marking its first such entry since 2022.
Analysts at QCP Capital described the international reaction to the tariffs as “remarkable,” but warned that volatility is likely to persist as negotiations continue. President Trump, while acknowledging the market’s fragility, remained firm on the tariffs, stating, “sometimes you have to take medicine.”
Meanwhile, market participants continued adjusting expectations around U.S. interest rates. Data from CME’s FedWatch Tool pointed to the June FOMC meeting as a likely point for potential rate cuts.
On the crypto front, Bitcoin began to stabilize in the $74,000 to $76,000 range. Glassnode, an on-chain analytics firm, noted that this zone aligns with significant cost basis clusters—suggesting solid investor support. Around $74.200, more than 50,000 BTC are held by wallets inactive since mid-March, indicating a firm base. Deeper levels of support lie between $70,000 and $72,000, with $69,900 acting as a historically strong floor, backed by around 68,000 BTC.
Despite recent turbulence, Bitcoin appears to be holding its ground as both traditional and crypto markets navigate an increasingly uncertain economic backdrop. At the time of writing BTC price is $81,160
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
