Bitcoin News: BTC Bears Aim for 200-Day Average Amid Macroeconomic Concerns Overshadowing Trump’s Crypto Measures
Bitcoin (BTC) bears are on the prowl, targeting a critical support level as macroeconomic worries take the spotlight, dimming the glow of President Donald Trump’s recent crypto-related actions. On March 9, 2025, at 3:24 p.m. UTC, the leading cryptocurrency faced a three-day losing streak, with prices dropping over 3% to $83,200, testing the 200-day simple moving average (SMA) according to data from CoinDesk and TradingView. This decline followed a more than 10% drop from the recent highs above $92,800 on Thursday.
Trade tensions between the United States and China are poised to escalate on Monday, with Beijing planning to impose tariffs on specific U.S. agricultural products in retaliation to President Trump’s latest tariff hike on Chinese imports. This tariff war has injected a significant level of uncertainty into the market and among policymakers, causing a ripple effect in various sectors.
Federal Reserve Chairman Jerome Powell recently emphasized the central bank’s cautious approach to interest rates, especially in light of the economic implications of President Trump’s policy shifts. The comments followed a weaker-than-expected U.S. nonfarm payrolls report and predictions of at least three rate cuts by the Federal Reserve this year. These factors, combined with recessionary signals from the bond market, have diverted attention away from Trump’s strategic move to accumulate BTC.
Despite the positive news surrounding Bitcoin, its value experienced a 4% decline from $90,000 to below $87,000 in a matter of hours. The focus on Trump’s crypto-related actions is gradually diminishing as concerns over the tariff war intensify. Analytics firm IntoTheBlock highlighted the impact of macroeconomic fears on the market, pointing out the growing positive correlation between bitcoin, ether, and U.S. stocks. The firm suggested that investor expectations of a bullish market under Trump’s administration may have been overly optimistic.
In a recent article, Noelle Acheson, the author of Crypto Is Macro Now, emphasized the weight of macroeconomic factors on crypto assets. The chart depicting BTC’s daily performance shows that buyers have intervened below the 200-day SMA on multiple occasions, leading to price rebounds. Market observers are closely monitoring this level to gauge trader sentiment and price movements in the near future.
Omkar Godbole, a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, provided valuable insights into the current market dynamics. With a background in finance and as a Chartered Market Technician (CMT) member, Godbole’s expertise sheds light on the intricate relationship between macroeconomics and cryptocurrencies. His experience in currency markets and fundamental analysis adds depth to the ongoing discussion about Bitcoin’s price fluctuations and the broader economic landscape.
As BTC continues to navigate through turbulent waters, the convergence of macroeconomic concerns and geopolitical tensions adds layers of complexity to the cryptocurrency market. While the immediate focus remains on Trump’s crypto measures, the overarching macroeconomic landscape is shaping investor sentiment and market dynamics in unforeseen ways. The interplay between global events and digital assets underscores the interconnected nature of modern financial markets, highlighting the need for a nuanced understanding of the forces at play.
