Key points:
Bitcoin and crypto markets are taking a nap, despite inflation data that’s more positive than my Aunt Edna’s meatloaf! Thanks, US tariffs on China! 🍖
Watch out for that $100,000 mark and the 2025 yearly open—those are the lifebuoys in this wild sea of crypto! 🛟
Major ask liquidity is stacked higher than my grandma’s secret cookie jar, reaching up to $120,000! 🍪
Bitcoin (BTC) is trying to avoid wicks below $100,000 while the markets are doing the cha-cha with the US-China trade deal. 💃
According to Keith Alan, the co-founder of Material Indicators, the 2025 yearly open is like a “line in the sand” for Bitcoin bulls. And let me tell you, that line better not get washed away! 🌊
Bitcoin analyst: 55% tariff “isn’t going to feel good”
Bitcoin is consolidating right below its all-time highs, while traders are scratching their heads over the US-China trade deal. 🤔
After a little dance up, Bitcoin decided to take a step back when it found out the deal included a whopping 55% tariff on Chinese imports—higher than my last date’s expectations! 😱
The US-China trade “deal” includes a “total of 55% tariffs” for the US.
The current US tariff rate on China is 30%, as of the May 12th deal.
Did the US just raise tariffs on China in a trade deal? 🤷♂️
— The Kobeissi Letter (@KobeissiLetter) June 11, 2025
For Alan, this tariff drama is a clear potential driver of short-term BTC price action, more than the Consumer Price Index (CPI) inflation report that was released on Wednesday. 📉
“Despite a relatively positive economic report and news that we almost have a trade deal with China, TradFi and Crypto Markets were slightly down on Wednesday,” he summarized on X. 📉
“I’m speculating that people aren’t thrilled with the fact that U.S. tariffs on Chinese goods jumped to 55% from the 30% that was set for the negotiating period. 55% is going to be felt throughout every aspect of the U.S. economy and it isn’t going to feel good.” 😬
Reviewing order book liquidity, Alan suggested that the overall picture still looks like a party for the Bitcoin bulls. 🎉
“TLDR: When in doubt, zoom out,” another X post summarized alongside data from one of Material Indicators’ proprietary trading tools. 🔍
“A 1 year view of order book and order flow data in FireCharts shows heavy concentrations of BTC ask liquidity stacked from $111k up to $120k and disproportionately less bid liquidity below it.” 📊
Alan said he doesn’t expect the “bottom to drop out” and leave sellers in control of the market, despite the relative lack of bids. 🕳️
“Support tests are healthy,” he concluded. 🍏
“Support at the 2025 Yearly Open is my line in the sand.” 🏖️
All eyes on $100,000 strength
As CryptoMoon reported, other key support levels have crystallized during Bitcoin’s consolidation phase below its current $112,000 record. 💎
Chief among these is the $100,000 mark, now popular as a psychological boundary—like a therapist’s couch for Bitcoin! 🛋️
Alan sees its status remaining important in the long term, even during the next bear market. 🐻
“As I stated back in December when Bitcoin first started flirting with $100k, it will be important to see some consolidation above $100k with no wicks below to validate the R/S Flip,” he commented, referring to $100,000 being turned from resistance to support. 🔄
“More importantly, this will build some structural support that could come into focus during the next bear market.” 🏗️
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2025-06-12 11:42