I was looking at the BTC/QQQ chart and it seems like they are starting to break away from each other. Right now, BTC is actually doing better than QQQ.
This kind of reminds me of January 2025 when BTC was really outpacing Nasdaq.
So, are we on the verge of another BTC bull run?
What do you all think?
Bitcoin has been performing better recently. I think some of that may be due to Bitcoin treasury ponzinomics from companies like Strategy, but I also expect there to be increasing demand for BTC as the dollar continues to weaken and people lose faith in the US government. Trumps erratic policies make Bitcoin and gold look like better investments when compared to USD.
I can't say about Nasdaq, but when I open my wallet, I was surprised to see my portfolio having a good profit? So when I check the price, Bitcoin goes to $87,000 and I don't know what news or what's happening that pushes a big gain at the start of the week.
I'm not familiar with Nasdaq but when I check it's down -20%? (I might be wrong though).
But if this is true then maybe Bitcoin is really going on its own. We have seen that it has de-coupled with altcoin already at least for this cycle. And it will really be good if Bitcoin market is not going to be associated with any financial market.
I'm not sure if there is any correlation between bitcoin and
stocks , or if it is decoupling from Nasdaq like you said. But one thing I want to say is that bitcoin is a very volatile asset and most of its movements are based on news, macroeconomics, politics...So as long as geopolitical issues remain unresolved, the economy remains uncertain and there is no positive news to impact the markets, I don't think we will have another bull run anytime soon.
Also, although the price of bitcoin has increased today and I don't know the reason behind it , one thing we need to note is that the US financial market is not open yet. The US financial market is still the one that has a strong impact on bitcoin's performance, so it's too early to confirm anything.
Amongst other factors that may have led to BTC price uprising Saylor's expansion of it bitcoin hodling must have had effect to the uptrend we're experiencing about now.
It's getting more and more clearer to me that the BTC hodling race isn't for the weak.
One reason I read was that its because Trump is trying to fire FED chair Powell and the market is very uncertain to which the safest haven asset they are looking into is Bitcoin. Ye Bull run again is possible.
The threat to FED chair is becoming real since Trump is looking for a way to remove this man. And its because FED has all the power to manipulate the markets, it can bail wall street, print money and also not doing anything which Trump is furious.
People still can't accept that we're still in a bull run despite all of the dumping action on its price. We will not see "another" bull run because this is the same bull run that reached its new peak last time at $109k. There is no confirmation that we've been out of the bull run and into the bear run. If the price that you're basing it when it was $74k, that's still higher than a 1-year time frame so the price was still better than the past years that it has been and even on the former ATH on 2021. But let's give it that to you and yes, we might see another bull.
Very possible because just today, the price hit $88k after a while and the price went further to $83,300 before it dropped to $87k. Unlike before, when the price of bitcoin struggles and gain strength, within a short while it will drop again intensely but for the price to stay around $87k means that there is a signal of a bull run soon even though it may not run to a new ATH.
Im surprised they were ever especially aligned except they are both roughly vs dollar and subject to speculative flows back and forth. The upset over trade restrictions is a tax on physical transactions of actual goods, we also on the precipice of a very cyber leaning kind of virtual economy where many transactions revolve around digital data and nothing physical.
Considering we can sell designs for 3D printers and you can possibly even recycle your own plastic to make the ingredients for that printer in some cases, almost everything could avoid the tariff and taxes and other red tape constraints that most governments would like to throttle free enterprise with. So de-coupling makes sense if BTC can be a part of that economy in even a small part, it deserves to do better then the old broken system centralized around politics and egoistical rhetoric best placed to produce hot air little else.
If GameStop hasnt bought yet then theres a real possibility they could send us into the 90s and possibly kick off a massive wave of short liquidations. That could propel enough short covering to maybe put us back into 6 digit territory, which would be enough to get MSTR into the S&P 500 and send us to $200K this year. The path is there
I don't think that firing the FED chair is bullish to Bitcoin though, maybe others saw it though that at least Trump is doing something over the interest rates and forcing the FED to lower it.
But in any case, we are still in chaos, or at least what the market is doing is reacting in this kind of news. So still 50/50 for us whether we decouple with Nasdaq right now. And what I'm seeing, although in the beginning I don't want to believed it, but Bitcoin is now becoming the hedge again, because of economic uncertainty that pushes it price to as high as $88k at the start of the week.
Nasdaq is far from the BTC price action because lately, on April 9, the BTC price nearly touched the previous ATH last year around $74k. After touching that major support, there's a double bottom pattern buildup on the RSI and support area and you should also notice on the daily time frame the downtrend is weaker, which is a sign a reversal will happen this Q2.
Another piece of news that helped the price go up is that Trump said, "This is the great time to buy!" That was last April 9, too. After that, there was a huge price increase in BTC. I believe this Q2 is bullish, no more bearish, according to technical analysis. If fundamentals are against it, then expect a market shift.
The next target price is where the resistance and liquidation position is, around $92k to $94k.
If the price breaks the 89k level, expect to see the price at $92k within a day and bounce back to $88k, then gradually take the $90k level.
Trump has no authority to fire the Fed chairman, he is just trying to pressure the Fed to lower interest rates by putting pressure on the stock market as well as directly criticizing Powell.
Bitcoin price does not increase randomly nor does it increase because people choose it as a safe haven. DXY is falling below 100, which means people are expecting the Fed to cut interest rates in May and when DXY falls, this means it will be easier for US businesses and consumers to borrow money to invest and speculative assets will benefit.
I agree with you that 200k is still possible to achieve this circle, because those recent dips is a norm in bitcoin bull market. Trump was the person made it possible for us to experience the 30% dip and he has piped low for now. We are already on $91k currently, as I am typing this post and that shows that six digits is around the corner.
No matter how Trump decisions affect the market, it's only gonna be temporary because as USD start losing value, investors would look for a safe haven asset to dump their millions into which bitcoin is one of them. I believe that in the long run, the increase in tariff will be in favor of bitcoin