The Shocking Truth About Bitcoin and Gold That No One Saw Coming! 🤯

Bitcoin (BTC) flirted with the $90,000 mark on March 24 during Wall Street’s opening antics, while analysts scratched their heads, muttered “conflicting signs and signals,” and tried to remember where they left their crystal ball. 🪄

BTC price daily gains near 3% in risk-asset relief 🎉

Data from CryptoMoon Markets Pro and TradingView showed BTC/USD bouncing exuberantly to $88,772 on Bitstamp — its highest levels since March 7. That’s practically ancient history in crypto time, where a week feels like a year, and yesterday is a distant memory.

In predictable fashion, Bitcoin piggybacked on the stock market’s mood swings, deciding to “climb up the tree” just because everyone else was doing it. The S&P 500 and Nasdaq Composite were up 1.6% and 2%, respectively. Of course, Bitcoin couldn’t resist showing off, because, well, that’s Bitcoin. ✨

Commentary from The Kobeissi Letter claimed the market’s mood was boosted by news that the US government intended to water down their new trade tariffs, like softening a bad sketch with an eraser. Apparently, “sector-specific tariffs” were coming to save the day instead of blanket rules, which were probably knitted out of angst and bureaucracy.

Rumor has it, the talk of gold reserves swapping their glitter for Bitcoin had something to do with the market’s sudden attempt at optimism. “Budget-neutral way to acquire more Bitcoin,” said Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, in an excitingly pompous podcast appearance. Budget-neutral is what people say when they want to sound responsible but are secretly dreaming about yachts. ⛵

Keith Alan, co-founder of Material Indicators, chimed in and suggested the news gave speculators fresh hopium — the highly addictive belief that everything is secretly fine, and we’re all geniuses for buying this dip. “Sell a bit of gold, buy some Bitcoin? A masterstroke, if you’re feeling fancy,” he tweeted. Someone always feels fancy when Bitcoin’s involved.

BTC needs key support reclaim to avoid new lows 🚑

Alan said that for Bitcoin to avoid yet another drama-filled nosedive, it needs to reclaim two very important things: the 21-day simple moving average (SMA) at $84,674 and the 2025 yearly open around $93,300. Because obviously, Bitcoin can’t just behave without a couple of arbitrary lifelines thrown its way. Bitcoin isn’t about to let things get too straightforward. 🙄

“Conflicting signs and signals,” said Alan, checking to make sure he hadn’t summoned a confusing spirit from the depths of the trading universe. “Is Bitcoin heading back to all-time high territory, or is this a bull trap disguised as a castle in the clouds? Watch your validation levels, folks, or face the wrath of economic disappointment.” 🐂

If Bitcoin doesn’t reclaim the yearly open, expect prices to revisit lower territories. Alan added, “When prices dive like Olympic swimmers, I’ll be there to scoop up the dips. Someone’s gotta do it.” And that, dear reader, is the crypto equivalent of being the designated driver at a party nobody wants to leave. 🚘

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2025-03-24 20:33