A Ray of Hope from Australia for the Bitcoin Rally: The Trump Effect May Have Peaked! - Coin Bulletin

As Bitcoin's price falls below the $75,000 level amid rising trade tensions, the recovery of the Australian Dollar gives hope to cryptocurrency investors.

By hovering over a double top reversal pattern for the Bitcoin (BTC)**, it was indicated that the price could drop to $75,000. This was considered a typical bull market pullback. On Monday, the price of Bitcoin fell below this level as trade tensions took a toll on financial markets. Dow Jones Industrial Average futures fell 900 points, while technical analysis theories suggest BTC's selling pressure could stall at levels between $70,000 and $75,000.

The strong rise of the Australian Dollar indicates that tariff effects have peaked

Australian Dollar (AUD), particularly affected as a commodity currency by trade tensions, is providing hope to the crypto market. The AUD/USD pair, which fell to 0.5930 early Monday, later rose to the level of 0.6011.

Last Friday, the pair experienced a large drop of 4%, which is quite a significant movement for a national currency. In situations where trade tensions rise, such currencies can react quickly; because trade balances, economic conditions, and interest rate expectations change. The Australian Dollar, especially due to its connections with major trading partners like China, is sensitive to such developments.

As trade tensions rise, it is common for such national currencies to move quickly. The rise of the Australian Dollar may be a sign that the selling pressure triggered by tariffs has peaked. However, the strategy of buying the dip in falling markets is considered a very risky approach.