Bitcoin has bounced back above the $80,000 level, catching a tailwind from calmer U.S. markets after a weekend of intense volatility and rising trade tensions. While fears of a “Black Monday” redux shook global sentiment, both equities and crypto seem to have found a temporary floor—at least for now.
Stocks Dodge Disaster, Bitcoin Follows
The U.S. avoided full-blown panic thanks to reports suggesting a 90-day delay in the newly announced trade tariffs. Nasdaq futures, which were down as much as 7% overnight, rebounded ahead of the open, dragging Bitcoin along with them. While the S&P 500 officially entered bear market territory—down over 20% from February highs—some stability returned to risk assets.
Bitcoin followed suit, climbing back to $80K after briefly plunging to five-month lows. Analysts note that while equities bounced on tariff delay hopes, sentiment remains fragile. Trading firm QCP Capital called the current geopolitical engagement over tariffs “remarkable” but warned that markets remain vulnerable if progress stalls.
BTC Support Levels Hold Firm
According to on-chain data from Glassnode, Bitcoin found strong support at the $74,000 level, where more than 50,000 BTC were previously acquired. Analysts believe this level was formed by long-term holders who steadily raised their cost basis during the March run-up and have since gone quiet—suggesting a belief in the long-term trend.
Further support lies between $71,000 and $69,000. The latter, which coincides with Bitcoin’s 2021 cycle top, has consistently served as a psychological anchor and a major accumulation zone. Glassnode reports over 175,000 BTC were purchased in this range, reinforcing it as a safety net if volatility returns.
Looking Ahead: Calm Before the Next Move?
While the recent bounce offers relief, macro pressures—from Fed rate expectations to global trade uncertainty—remain unresolved. Market participants are keeping a close eye on this week’s economic events and whether President Trump’s administration follows through with or delays its aggressive tariff policy.
Bitcoin’s ability to hold above $74K–$76K could signal growing institutional conviction and trigger renewed buying interest. However, if stock market fears flare up again, Bitcoin may face renewed selling pressure—especially if it loses $69K, a level many consider critical.
