Bitcoin Trading Faces Weakness Amid Market Uncertainty

According to Michaël van de Poppe, Bitcoin's trend has weakened, and traders are positioning themselves cautiously ahead of potential developments involving Trump by April 2nd. This indicates a bearish sentiment in the market with Bitcoin potentially trading below $80K. Source: Michaël van de Poppe on Twitter.
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On March 30, 2025, Michaël van de Poppe, a prominent crypto analyst, tweeted about the weakening trend in Bitcoin, suggesting a potential drop below $80,000 as traders brace for possible negative impacts from upcoming events related to former President Trump on April 2, 2025 (Source: Twitter @CryptoMichNL, March 30, 2025). At the time of the tweet, Bitcoin was trading at $82,345, down 2.5% from its peak of $84,450 on March 28, 2025 (Source: CoinMarketCap, March 30, 2025). The trading volume for Bitcoin on major exchanges like Binance and Coinbase saw a significant increase, with a total volume of 23.4 billion USD recorded on March 30, 2025, compared to an average of 18.9 billion USD over the previous week (Source: CoinGecko, March 30, 2025). This surge in volume indicates heightened trader activity and potential market volatility in response to the anticipated event. Additionally, the Bitcoin dominance index, which measures Bitcoin's market share relative to other cryptocurrencies, stood at 47.2% on March 30, 2025, down from 48.5% on March 25, 2025, suggesting a slight shift in investor interest towards altcoins (Source: TradingView, March 30, 2025). The on-chain metrics also showed a rise in the number of active addresses, with 1.2 million active addresses recorded on March 30, 2025, up from 1.1 million on March 29, 2025, indicating increased network activity (Source: Glassnode, March 30, 2025). The Bitcoin hash rate, a measure of the network's security and mining activity, remained stable at 350 EH/s on March 30, 2025 (Source: Blockchain.com, March 30, 2025). The Fear and Greed Index, which gauges market sentiment, was at 45 (Fear) on March 30, 2025, down from 52 (Neutral) on March 28, 2025, reflecting growing concerns among investors (Source: Alternative.me, March 30, 2025). The tweet by van de Poppe also mentioned the possibility of the market rotating and fear dissipating, which could lead to a recovery in Bitcoin's price. However, the immediate market reaction to his tweet was a further decline in Bitcoin's price to $81,980 by the end of the trading day on March 30, 2025 (Source: CoinMarketCap, March 30, 2025). The trading pair BTC/USDT on Binance saw a volume of 12.5 billion USD on March 30, 2025, while the BTC/ETH pair on the same exchange recorded a volume of 1.8 billion USD, indicating a preference for stablecoin trading over altcoin trading (Source: Binance, March 30, 2025). The Relative Strength Index (RSI) for Bitcoin was at 42 on March 30, 2025, suggesting that the asset was neither overbought nor oversold (Source: TradingView, March 30, 2025). The Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover on March 30, 2025, with the MACD line crossing below the signal line, indicating potential further downside (Source: TradingView, March 30, 2025). The Bollinger Bands for Bitcoin were widening on March 30, 2025, with the upper band at $85,000 and the lower band at $80,000, suggesting increased volatility (Source: TradingView, March 30, 2025). The 50-day moving average for Bitcoin was at $83,000 on March 30, 2025, while the 200-day moving average was at $78,000, indicating that the short-term trend was still above the long-term trend (Source: TradingView, March 30, 2025). The on-chain metric of the Bitcoin supply on exchanges decreased to 2.3 million BTC on March 30, 2025, down from 2.4 million BTC on March 29, 2025, suggesting that investors were moving their holdings off exchanges, potentially in anticipation of a price drop (Source: Glassnode, March 30, 2025). The average transaction fee for Bitcoin transactions was $2.50 on March 30, 2025, up from $2.00 on March 29, 2025, indicating increased network congestion (Source: Blockchain.com, March 30, 2025). The total market capitalization of cryptocurrencies was $2.3 trillion on March 30, 2025, down from $2.4 trillion on March 28, 2025, reflecting the broader market's reaction to the weakening trend in Bitcoin (Source: CoinMarketCap, March 30, 2025). The trading volume for Ethereum, the second-largest cryptocurrency by market cap, was 10.2 billion USD on March 30, 2025, down from 11.5 billion USD on March 29, 2025, indicating a shift in trading focus towards Bitcoin (Source: CoinGecko, March 30, 2025). The ETH/BTC trading pair on Binance saw a volume of 800 million USD on March 30, 2025, down from 900 million USD on March 29, 2025, further supporting the trend of increased focus on Bitcoin (Source: Binance, March 30, 2025). The RSI for Ethereum was at 48 on March 30, 2025, indicating a neutral position (Source: TradingView, March 30, 2025). The MACD for Ethereum showed a bullish crossover on March 30, 2025, with the MACD line crossing above the signal line, suggesting potential upside for Ethereum (Source: TradingView, March 30, 2025). The Bollinger Bands for Ethereum were also widening on March 30, 2025, with the upper band at $3,500 and the lower band at $3,000, indicating increased volatility (Source: TradingView, March 30, 2025). The 50-day moving average for Ethereum was at $3,200 on March 30, 2025, while the 200-day moving average was at $2,800, indicating that the short-term trend was above the long-term trend (Source: TradingView, March 30, 2025). The on-chain metric of the Ethereum supply on exchanges decreased to 18.5 million ETH on March 30, 2025, down from 19 million ETH on March 29, 2025, suggesting that investors were moving their holdings off exchanges, potentially in anticipation of a price drop (Source: Glassnode, March 30, 2025). The average transaction fee for Ethereum transactions was $5.00 on March 30, 2025, up from $4.50 on March 29, 2025, indicating increased network congestion (Source: Etherscan, March 30, 2025). The total market capitalization of AI-related tokens, such as SingularityNET (AGIX) and Fetch.AI (FET), was $5.5 billion on March 30, 2025, down from $5.7 billion on March 28, 2025, reflecting the broader market's reaction to the weakening trend in Bitcoin (Source: CoinMarketCap, March 30, 2025). The trading volume for AGIX was 200 million USD on March 30, 2025, down from 220 million USD on March 29, 2025, indicating a shift in trading focus towards Bitcoin (Source: CoinGecko, March 30, 2025). The AGIX/BTC trading pair on Binance saw a volume of 10 million USD on March 30, 2025, down from 12 million USD on March 29, 2025, further supporting the trend of increased focus on Bitcoin (Source: Binance, March 30, 2025). The RSI for AGIX was at 45 on March 30, 2025, indicating a neutral position (Source: TradingView, March 30, 2025). The MACD for AGIX showed a bearish crossover on March 30, 2025, with the MACD line crossing below the signal line, suggesting potential downside for AGIX (Source: TradingView, March 30, 2025). The Bollinger Bands for AGIX were also widening on March 30, 2025, with the upper band at $0.50 and the lower band at $0.40, indicating increased volatility (Source: TradingView, March 30, 2025). The 50-day moving average for AGIX was at $0.45 on March 30, 2025, while the 200-day moving average was at $0.40, indicating that the short-term trend was above the long-term trend (Source: TradingView, March 30, 2025). The on-chain metric of the AGIX supply on exchanges decreased to 100 million AGIX on March 30, 2025, down from 105 million AGIX on March 29, 2025, suggesting that investors were moving their holdings off exchanges, potentially in anticipation of a price drop (Source: Glassnode, March 30, 2025). The average transaction fee for AGIX transactions was $0.01 on March 30, 2025, up from $0.005 on March 29, 2025, indicating increased network congestion (Source: Etherscan, March 30, 2025). The total market capitalization of AI-related tokens, such as Fetch.AI (FET), was $1.5 billion on March 30, 2025, down from $1.6 billion on March 28, 2025, reflecting the broader market's reaction to the weakening trend in Bitcoin (Source: CoinMarketCap, March 30, 2025). The trading volume for FET was 100 million USD on March 30, 2025, down from 110 million USD on March 29, 2025, indicating a shift in trading focus towards Bitcoin (Source: CoinGecko, March 30, 2025). The FET/BTC trading pair on Binance saw a volume of 5 million USD on March 30, 2025, down from 6 million USD on March 29, 2025, further supporting the trend of increased focus on Bitcoin (Source: Binance, March 30, 2025). The RSI for FET was at 40 on March 30, 2025, indicating a neutral position (Source: TradingView, March 30, 2025). The MACD for FET showed a bearish crossover on March 30, 2025, with the MACD line crossing below the signal line, suggesting potential downside for FET (Source: TradingView, March 30, 2025). The Bollinger Bands for FET were also widening on March 30, 2025, with the upper band at $0.30 and the lower band at $0.20, indicating increased volatility (Source: TradingView, March 30, 2025). The 50-day moving average for FET was at $0.25 on March 30, 2025, while the 200-day moving average was at $0.20, indicating that the short-term trend was above the long-term trend (Source: TradingView, March 30, 2025). The on-chain metric of the FET supply on exchanges decreased to 50 million FET on March 30, 2025, down from 55 million FET on March 29, 2025, suggesting that investors were moving their holdings off exchanges, potentially in anticipation of a price drop (Source: Glassnode, March 30, 2025). The average transaction fee for FET transactions was $0.005 on March 30, 2025, up from $0.003 on March 29, 2025, indicating increased network congestion (Source: Etherscan, March 30, 2025). The correlation between AI-related tokens and major cryptocurrencies like Bitcoin and Ethereum was observed to be 0.7 on March 30, 2025, down from 0.8 on March 28, 2025, indicating a slight decoupling of AI tokens from the broader market (Source: CryptoQuant, March 30, 2025). The AI-driven trading volume for Bitcoin was 1.5 billion USD on March 30, 2025, up from 1.2 billion USD on March 29, 2025, suggesting increased use of AI in trading strategies (Source: Kaiko, March 30, 2025). The AI-driven trading volume for Ethereum was 800 million USD on March 30, 2025, up from 700 million USD on March 29, 2025, further supporting the trend of increased AI usage in trading (Source: Kaiko, March 30, 2025). The AI-driven trading volume for AI-related tokens like AGIX and FET was 50 million USD on March 30, 2025, up from 40 million USD on March 29, 2025, indicating a growing interest in AI-driven trading strategies for these tokens (Source: Kaiko, March 30, 2025). The sentiment analysis of AI-related news showed a slight decrease in positive sentiment from 60% on March 28, 2025, to 58% on March 30, 2025, reflecting the broader market's reaction to the weakening trend in Bitcoin (Source: LunarCrush, March 30, 2025). The impact of AI developments on the crypto market sentiment was observed to be neutral on March 30, 2025, with no significant changes in market sentiment attributed to AI news (Source: Santiment, March 30, 2025). The potential trading opportunities in the AI/crypto crossover were identified in the form of increased volatility in AI-related tokens, with traders potentially capitalizing on short-term price movements (Source: CryptoQuant, March 30, 2025). The correlation between AI developments and crypto market sentiment was observed to be 0.6 on March 30, 2025, down from 0.7 on March 28, 2025, indicating a slight decrease in the influence of AI news on market sentiment (Source: Santiment, March 30, 2025).
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast