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Multiple Traders Long Big on Market Direction, James Wynn Goes 40x Long on Bitcoin

From under the $85,000 mark to as high as $104,700 over the last month, the price of Bitcoin has been on quite the roller coaster since mid-April. Particularly via the $BTC exchange-traded funds (ETFs), the biggest cryptocurrency market saw a favorable change in investor attitude and a new infusion of cash. Fascinatingly, the top cryptocurrency looks to be displaying some tiredness, particularly after failed attempts to break out from the $102,000 - $105,000 consolidation region during the previous week. This slow cycle of price movement has put into doubt the validity of the recent optimistic surge. Tony Severino, a chartered market technician (CMT), visited the X platform to provide a fascinating analysis of Bitcoin's price behavior throughout the last two weeks. The crypto analyst claims that the price of BTC could be lacking a conventional technical behavior, usually connected with strong bullish impulses. This finding has logical basis in the recent movement of the daily relative strength index (RSI) signal on the Bitcoin price chart. In technical price research, the relative strength index is a momentum indicator used to project the pace and scale of price fluctuations of an asset. Usually used to indicate a possible trend or price reversal, the RSI oscillator helps one to determine if a crypto asset is being overbought or oversold. A relative strength index number below 30 denotes an oversold position; an RSI score of over 70 often suggests an overbought market scenario. BTC is worth around $103,676 as of right now, showing no notable price swings in the previous 24 hours. The slowness of the previous day emphasizes the performance of the top cryptocurrency throughout last week. Data from CoinGecko shows that over the last seven days, the Bitcoin price has risen only 0.8%.

⚡️INSIGHT: Arthur Hayes reveals two major catalysts he says could launch Bitcoin to $1 million, while a crypto analyst predicts a 2017-style altcoin boom is around the corner. Hodler's Digest via Cointelegraph Magazine

Former Norwegian State Secretary to Become Executive Director of Bitcoin Policy Research Institute in August

the Reason why US Tariff Hikes the Crypto Market. U.S. tariff hikes—especially on countries like China—can impact the crypto market in several ways, primarily through investor sentiment, capital flows, and macroeconomic shifts. Here's a breakdown: 1. Market Uncertainty & Risk Sentiment Increased volatility: Tariff hikes often lead to fears of trade wars or economic slowdowns, prompting investors to seek safe havens. Crypto as a hedge: Some investors may turn to Bitcoin and other cryptocurrencies as alternative stores of value, similar to gold, especially in countries directly affected by tariffs. 2. Impact on the Dollar & Inflation Stronger USD: Tariffs can strengthen the dollar temporarily, which might put downward pressure on crypto prices, since Bitcoin is often inversely correlated with the dollar. Inflationary pressure: Over time, tariffs can increase prices on imported goods, stoking inflation. If inflation rises faster than interest rates, it can support crypto as an inflation hedge. 3. Capital Flight & Global Demand In countries impacted by U.S. tariffs (like China), residents may look to move capital into crypto to avoid local economic instability or currency devaluation. This boosts global demand for crypto assets, particularly stablecoins and BTC. 4. Regulatory Ripple Effects If tariffs heighten geopolitical tension, crypto might face regulatory responses as governments try to control capital movement or sanction evasion through crypto.