Bitcoin (BTC) Reaches New All-Time High of $112,000, Trump Reignites Trade Tensions

Bitcoin's newly set all-time high of $100,00 was quickly overshadowed as U.S. President Donald Trump reignited trade tensions

U.S. President Donald J. Trump's threat to impose a 50% tariff on all European Union imports and a 25% duty on Apple if the tech giant persists with manufacturing iPhones outside the U.S. has come at a time when Bitcoin bulls are seeing red.

Key Takeaways:

* Bitcoin price today fell over 5% to hit around $107,600 as the threat of broad tariffs on E.U. imports sparked a selloff in the crypto market.

* The S&P 500 also dipped on Monday, responsive to the looming threat of increased world trade tensions.

* Trump's action comes barely two weeks after signals of a truce flashed from the U.S.-China trade scene, rekindling market jitters common in the early April F.U.D period.

* He justified this action by pointing out what he sees as the unfair trade deficit with the E.U and decrying Apple's relocation to India.

* The administration's return to overtly hostile tariffing policies has upended both crypto and mainstream markets, rekindling fears over economic policy unpredictability emanating from the U.S.

Top traders are now spotting a big technical signal that could have traders focused on a continuation of the Bitcoin bull market.

Technical Chart Flags Bitcoin Bullish Reversal

In the midst of the macro turmoil, a big technical signal attracted traders' notice. One chart presented by "Titan of Crypto", a widely-read crypto market commentator, pointed out a key bullish sign: the Golden Cross. This is when the 50-day moving average crosses over the 200-day average, a setup that before used to precede a 60% BTC rally. The chart includes the Ichimoku Cloud, a multifaceted indicator created by Goichi Hosoda. This confirms the bullish turn as the cloud changes from red to green with the crossover point. Having the price action move above the green cloud and volume spikes with the move signals strong momentum to continue moving higher.

Strategy Shift as Market Juggles Signals

While the chart technically is seeing the glass as half-full, traders are divided. The reappearance of trade tensions at lightning speed has prompted traders to switch strategy from active speculation to holding in a cautious manner. Most are waiting for macro clarity before taking further action, juggling the chart signals against the impending economic dangers emanating from geopolitical tensions.