Related: Bitcoin eyes gains as macro data makes US recession 2025 ‘base case’With the Federal Reserve under pressure to cut interest rates, various crypto market commentators saw the chance for a stronger comeback in the coming months.“Bad macroeconomic data came along, through which the pressure on the FED is increasing to start the money printer again,” Crypto trader, analyst and entrepreneur Michaël van de Poppe told X followers in part of a post on the day. “Ultimately, good for risk-on assets.
Reacting, popular trader Daan Crypto Trades suggested that stocks may be on the cusp of a return to sustained bullish trajectory.“Stocks trade at a key area here,” he wrote in ongoing X analysis.“I think the general rule is that if stocks do trade back above the .618 Fibonacci retracement after a big drop, the bottom is considered to be in.”S&P 500 1-day chart.
Fellow trader Skew watched exchange order book liquidity for signs of short-term moves to come.$BTCWho's going to be right this time? Longs or Shorts pic.twitter.com/4xSu86WzSQ— Skew Δ (@52kskew) May 1, 2025The latest data from monitoring resource CoinGlass showed ask liquidity thickening around $97,000 at the time of writing.
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Author / Journalist: Cointelegraph by William Suberg
The story "Bitcoin bulls prep $97K resistance showdown as gold dips 8% from highs" has 397 words across 17 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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