{"id":22908,"date":"2025-04-10T13:53:12","date_gmt":"2025-04-10T10:53:12","guid":{"rendered":"https:\/\/forklog.com\/en\/glassnode-sizes-up-the-impact-of-trumps-tariffs-on-bitcoins-outlook\/"},"modified":"2025-04-10T13:53:12","modified_gmt":"2025-04-10T10:53:12","slug":"glassnode-sizes-up-the-impact-of-trumps-tariffs-on-bitcoins-outlook","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/glassnode-sizes-up-the-impact-of-trumps-tariffs-on-bitcoins-outlook\/","title":{"rendered":"Glassnode sizes up the impact of Trump\u2019s tariffs on bitcoin\u2019s outlook"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Support for the first cryptocurrency is $76,000; resistance is $93,000.<\/li>\n<li>The market correction has pushed medium-term holders to sell.<\/li>\n<li>Selling pressure in bitcoin and Ethereum shows signs of exhaustion.<\/li>\n<\/ul>\n<\/div>\n<p>A combination of on-chain metrics and technical indicators suggests the first cryptocurrency must reclaim $93,000 to restore upward momentum, Glassnode concludes.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Tarrifs and Turmoil: the latest Week On-Chain report is now live. <br \/>The announcement of \u201cLiberation Day\u201d <a href=\"https:\/\/twitter.com\/hashtag\/tariffs?src=hash&#038;ref_src=twsrc%5Etfw\">#tariffs<\/a> sent shock waves through the markets, digital assets being no exception. <br \/>Does it mark the end of the bull market? Read the full report here: <a href=\"https:\/\/t.co\/KlyxtoarDb\">https:\/\/t.co\/KlyxtoarDb<\/a> <a href=\"https:\/\/t.co\/DFSun6mxOw\">pic.twitter.com\/DFSun6mxOw<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1909992954183164283?ref_src=twsrc%5Etfw\">April 9, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The aforementioned level aligns with the 111 <span data-descr=\"daily moving average \" class=\"old_tooltip\">DMA<\/span>. To end the correction, the price should not establish itself below $76,000 (365 DMA). In early April, quotes briefly undercut that level for the first time since the 2021 cycle, the firm noted.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1505-1024x576.png\" alt=\"1-1505\" class=\"wp-image-256307\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1505-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-1505-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-1505-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-1505-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/1-1505.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>$93,000 also corresponds to the cost basis of coins held by short\u2011term market participants. One standard deviation below that implies about $72,000.\u00a0<\/p>\n<p>At present, the price of digital gold sits between these two reference points, the experts said.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-1068-1024x576.png\" alt=\"2-1068\" class=\"wp-image-256308\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-1068-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1068-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1068-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1068-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1068.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>Longer\u2011term fundamental support lies in the $65,000\u201371,000 area. A move below this corridor would strip most active investors of their remaining profits.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-598-1024x576.png\" alt=\"3-598\" class=\"wp-image-256309\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-598-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/3-598-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/3-598-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/3-598-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/3-598.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>According to the analysts\u2019 calculations, during the current correction since February 27 the share of loss\u2011making sales of coins aged three to six months has risen from 0.8% to 19.4%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In comparison to previous large <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> sell-offs YTD, losses are now spreading to older coins \u2014 especially in the 3m\u20136m group, whose share in loss realization jumped from 0.8% to 19.4% of total losses since Feb 27: <a href=\"https:\/\/t.co\/cShuvGCuLz\">pic.twitter.com\/cShuvGCuLz<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1909965110531018779?ref_src=twsrc%5Etfw\">April 9, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThis marks a structural shift in loss realisation and points to sustained pressure on medium\u2011term holders,\u201d<\/em> the experts stressed.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\"><strong>BTC vs ETH<\/strong><\/h2>\n<p>The analysts reported shrinking capital inflows into the two leading cryptocurrencies, reflected in changes to realised capitalisation (30 DMA).\u00a0\u00a0<\/p>\n<p>After monthly peaks of $100bn and $15.5bn for bitcoin and Ethereum, the metrics fell to $6bn and \u2212$6bn respectively. The negative figure in the latter case indicates net losses relative to the acquisition price.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/4-370-1024x576.png\" alt=\"4-370\" class=\"wp-image-256310\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/4-370-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/4-370-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/4-370-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/4-370-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/4-370.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>Ether\u2019s MVRV ratio fell below 1, showing the \u201caverage\u201d holder is in loss. For bitcoin, the indicator remains comfortably above that boundary.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/5-227-1024x576.png\" alt=\"5-227\" class=\"wp-image-256311\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/5-227-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/5-227-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/5-227-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/5-227-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/5-227.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>The specialists noted Ethereum\u2019s uncharacteristic underperformance versus bitcoin for a bull cycle.<\/p>\n<p>As a result, ETH\/BTC has fallen 75% since the Merge, to 0.0196. That is the pair\u2019s lowest since January 2020, with a lower value seen on only 500 of 3,531 trading days, the experts calculated.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/6-164-1024x576.png\" alt=\"6-164\" class=\"wp-image-256312\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/6-164-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/6-164-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/6-164-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/6-164-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/6-164.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>Glassnode estimated the peak of six\u2011hour loss realisation in bitcoin at $240m, comparable with some of the largest such episodes in this cycle.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWith each subsequent price decline, the magnitude of realised losses began to shrink. This may indicate some exhaustion of bearish pressure. Investors are increasingly acclimatised to lower price ranges and unsettled market conditions,\u201d<\/em> the review said.<\/p>\n<\/blockquote>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/7-104-1024x576.png\" alt=\"7-104\" class=\"wp-image-256313\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/7-104-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/7-104-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/7-104-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/7-104-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/7-104.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>Ethereum shows a similar picture: losses of $564m rank among the largest since the peak of the bull trend in January 2023.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/8-74-1024x576.png\" alt=\"8-74\" class=\"wp-image-256314\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/8-74-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/8-74-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/8-74-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/8-74-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/8-74.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>The liquidity squeeze triggered a significant negative repricing across the altcoin sector. Assets further out along the risk curve proved more sensitive to turbulence.<\/p>\n<p>Sector capitalisation (excluding Ethereum and stablecoins) has slumped by more than 40% \u2014 from $1trn in December 2024 to $583bn.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/9-57-1024x576.png\" alt=\"9-57\" class=\"wp-image-256315\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/9-57-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/9-57-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/9-57-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/9-57-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/9-57.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Glassnode.<\/figcaption><\/figure>\n<p>Earlier, Bernstein <a href=\"https:\/\/u1f987.com\/en\/news\/bernstein-praises-bitcoins-resilience-amid-tariff-turbulence\">called<\/a> the resilience of bitcoin\u2019s price \u201cimpressive\u201d amid tariff turbulence.<\/p>\n<p>Earlier, former BitMEX CEO Arthur Hayes <a href=\"https:\/\/u1f987.com\/en\/news\/arthur-hayes-predicts-bitcoin-surge-amid-yuan-weakness\">said<\/a> that new US tariffs could drive capital into digital gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Support for the first cryptocurrency is $76,000; resistance is $93,000. The market correction has pushed medium-term holders to sell. Selling pressure in bitcoin and Ethereum shows signs of exhaustion. A combination of on-chain metrics and technical indicators suggests the first cryptocurrency must reclaim $93,000 to restore upward momentum, Glassnode concludes. Tarrifs and Turmoil: the latest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[991,46,1273,1150,1268,1253],"class_list":["post-22908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-donald-trump","tag-ethereum","tag-glassnode","tag-news-plus","tag-on-chain-analysis","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=22908"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/22907"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=22908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=22908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=22908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}