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Bitcoin doping from India
The crypto market continues to search for direction under the shadow of political developments in the last days of April. Bitcoin, which has been moving in the range of 85 to 95 thousand dollars for about two weeks, took a breath with the moderate statements made by U.S. President Donald Trump regarding trade agreements.
On the 100th day in office, U.S. President Donald Trump appeared before his supporters in the state of Michigan. Trump's agenda included both the economy and foreign policy. His statements regarding a new trade agreement with India were among the prominent topics at Trump's rally. The possibility of a slight decrease in the high tensions of trade wars eased the market. The expectation of the elimination of trade uncertainty in global markets particularly accelerated the shift towards risky assets. The price of Bitcoin rose above $95,000 following Trump's statements.
On the other hand, the March 2025 report of the US Job Openings and Labor Turnover Summary (JOLTS) fell from 7.57 million in February to 7.19 and remained below the market estimate of 7.48 million. The JOLTS data, which came in below expectations, indicates that the labor market is cooling down. Market expectations are therefore geared towards a potential interest rate cut decision from the US Federal Reserve. Thus, this picture weakens the dollar while opening up opportunities for risky assets like Bitcoin.
What do analysts say about this?
Popular Bitcoin analyst AlphaBTC stated in a post on the X platform on April 29, "BTC is slowly consolidating and making higher lows under the 96,000 dollar resistance."
Analyst Daan Crypto Trades stated: "BTC price is once again consolidating after returning to the previous range a few days ago."
The analyst also added, "The main resistance levels are the local peak of 99,500 dollars and the major psychological level of the 100,000 area."
This article does not contain investment advice or recommendations. Every investment and trading activity carries risk, and readers should conduct their own research when making decisions.