US Social Security moves public comms to X amid DOGE-led job cuts — Report
The US Social Security Administration (SSA) will move all public communications to the X social media platform amid sweeping workforce cuts recommended by the Department of Government Efficiency (DOGE), led by X owner Elon Musk. According to anonymous sources who spoke with WIRED, the government agency will no longer issue its customary letters and press releases to communicate changes to the public, instead relying on X as its primary form of public-facing communication. The shift comes as the SSA downsizes its workforce from 57,000 employees to roughly 50,000 to reduce costs and improve operational efficiency. The agency issued this statement in February 2025:“SSA has operated with a regional structure consisting of 10 offices, which is no longer sustainable. The agency will reduce the regional structure in all agency components down to four regions. The organizational structure at Headquarters also is outdated and inefficient.”Elon Musk, the head of DOGE, has accused the Social Security system of distributing billions of dollars in wrongful payments, a claim echoed by the White House. Musk’s comments sparked intense debate about the future of the retirement program and sustainable government spending.Source: Elon MuskRelated: Musk says he found ‘magic money computers’ printing money ‘out of thin air’DOGE targets US government agencies in efficiency pushThe Department of Government Efficiency is an unofficial government agency tasked with identifying and curbing allegedly wasteful public spending through budget and personnel cuts.In March, DOGE began probing the Securities and Exchange Commission (SEC) and gained access to its internal systems, including data repositories.SEC officials signaled their cooperation with DOGE and said the regulatory agency would work closely with it to provide any relevant information requested.Musk and Trump discuss curbing public spending and eliminating government waste. Source: The White houseDOGE also proposed slashing the Internal Revenue Service’s (IRS) workforce by 20%. The workforce reduction could impact up to 6,800 IRS employees and be implemented by May 15 — exactly one month after 2024 federal taxes are due.Musk’s and the DOGE’s proposals for sweeping spending cuts are not limited to slashing budgets and reducing the size of the federal workforce.DOGE is reportedly exploring blockchain to curb public spending by placing the entire government budget onchain to promote accountability and transparency.Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle
Bitcoin price preparing for 'up only mode' as US bonds suffer worst selloff since 2019
Bitcoin (BTC) is entering what former BitMEX CEO Arthur Hayes calls “up only mode,” as a deepening crisis in the US bond market potentially drives investors away from traditional haven assets and toward alternative stores of value.Loss of confidence in US policy boosts Bitcoin’s upside prospectsOn April 11, the benchmark US 10-year Treasury yield surged above 4.59%—its highest level in two months.US 10-year Treasury note yields daily performance chart. Source: TradingViewThe $29 trillion US Treasury market has dropped more than 2% this week — its steepest decline since September 2019, when a liquidity crunch in the repo market forced the Federal Reserve to intervene.US President Donald Trump’s unpredictable tariff announcements and reversals have fueled the chaos. After threatening sweeping levies on global trading partners, Trump walked back many of the measures within days for certain countries, except China.The US dollar added to the pressure, with its strength against a basket of top foreign currencies—as tracked by the US Dollar Index (DXY)—dropping below the 100 mark for the first time since 2022.US Dollar Index daily performance chart. Source: TradingViewThat further notched its worst weekly decline in over two years.In contrast, Bitcoin rose by over 4.50% amid the US bond market rout, reaching around $83,250 on hopes that the weakening macroeconomic conditions will push US policymakers to act.“It’s on like donkey kong,” wrote Hayes in his April 11 X post, adding: “We will be getting more policy response this weekend if this keeps up. We are about to enter UP ONLY mode for $BTC.”Furthermore, bond traders are now pricing in at least three rate cuts from the Federal Reserve by the end of the year, with a fourth becoming increasingly likely. Rate cuts have historically been bullish for Bitcoin.Target rate probabilities for December Fed meeting. Source: CMEBitcoin eyes ‘parabolic bull run’ due to weaker dollarHistorically, sharp drops in the US Dollar Index have preceded delayed but powerful Bitcoin bull runs, according to crypto analyst Venturefounder.“A falling DXY has typically been a strong bullish signal for Bitcoin,” the analyst wrote on X, pointing to a clear bearish divergence on the chart. DXY vs BTC/USD monthly price chart. Source: TradingView/VenturefounderHe added that if DXY continues to slide toward the 90 level, it could replicate conditions that led to parabolic BTC rallies during the final stages of previous bull markets — each lasting up to a year.Additionally, Bollinger Bands creator John Bollinger offered a bullish outlook for Bitcoin, noting that the cryptocurrency is forming a familiar bottom at $80,000.Related: Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x ResearchMeanwhile, a maturing falling wedge pattern on the BTC price chart hints at a potential Bitcoin price rally toward $100,000, as Cointelegraph reported earlier.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Fed’s Kashkari hints at liquidity support — Is $100K Bitcoin back on the table?
Neel Kashkari, President of the Minneapolis Federal Reserve, addressed the issue of rising Treasury yields on April 11, suggesting that they might indicate a shift in investor sentiment away from United States government debt. Kashkari highlighted that the Federal Reserve has tools to provide more liquidity if necessary.While underscoring the importance of maintaining a strong commitment to reducing inflation, Kashkari’s remarks signal a possible turning point for Bitcoin (BTC) investors amid growing economic uncertainty. US Treasury 10-year yields. Source: TradingView / CointelegraphThe current 10-year US government bond yield of 4.5% is not unusual. Even if it approaches 5%, a level last seen in October 2023, this does not necessarily mean investors have lost confidence in the Treasury’s ability to meet its debt obligations. For example, gold prices only surpassed $2,000 in late November 2023, after yields had already decreased to 4.5%.Will the Fed inject liquidity, and is this positive for Bitcoin?Rising Treasury yields often signal concerns about inflation or economic uncertainty. This is crucial for Bitcoin traders because higher yields tend to make fixed-income investments more appealing. However, if these rising yields are perceived as a sign of deeper systemic issues—such as waning confidence in government fiscal policies—investors may turn to alternative hedges like Bitcoin.Bitcoin/USD (left) vs. M2 global money supply. Source: BitcoinCounterFlowBitcoin’s trajectory will largely depend on how the Federal Reserve responds. Liquidity injection strategies typically boost Bitcoin prices while allowing higher yields could increase borrowing costs for businesses and consumers, potentially slowing economic growth and negatively impacting Bitcoin’s price in the short term.One strategy the Federal Reserve could use is purchasing long-term Treasurys to reduce yields. To offset the liquidity added through bond purchases, the Fed might simultaneously conduct reverse repos—borrowing cash from banks overnight in exchange for securities. A weak US dollar and banking risks could pump Bitcoin priceWhile this approach could temporarily stabilize yields, aggressive bond purchases might signal desperation to control rates. Such a signal could raise concerns about the Fed’s ability to manage inflation effectively. These concerns often weaken confidence in the dollar’s purchasing power and may push investors toward Bitcoin as a hedge.Another potential strategy involves providing low-interest loans through the discount window to give banks immediate liquidity, reducing their need to sell long-term bonds. To counterbalance this liquidity injection, the Fed could impose stricter collateral requirements, such as valuing pledged bonds at 90% of their market price.Systemic risk in the US financial services industry. Source: Cleveland FedThis alternative approach limits banks’ access to cash while ensuring borrowed funds remain tied to collateralized loans. However, if collateral requirements are too restrictive, banks might struggle to obtain sufficient liquidity even with access to discount window loans. Related: Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x ResearchAlthough it is too early to predict which path the Fed will take, given the recent weakness in the US dollar alongside a 4.5% Treasury yield, investors might not place full trust in the Fed’s actions. Instead, they may turn to safe-haven assets such as gold or Bitcoin for protection.Ultimately, rather than focusing solely on the US Dollar Index (DXY) or the US 10-year Treasury yield, traders should pay closer attention to systemic risks in financial markets and the spreads on corporate bonds. As these indicators rise, confidence in the traditional financial systems weakens, potentially setting the stage for Bitcoin to reclaim the psychological $100,000 price level.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
S&P 500 briefly sees ‘Bitcoin-level’ volatility amid Trump tariff war
The S&P 500 Index briefly experienced Bitcoin-level volatility in the wake of US President Donald Trump’s April 2 “Liberation Day” tariff announcement, underscoring the panic and fear gripping traditional markets amid the ongoing trade war. Bloomberg analyst Eric Balchunas alerted his followers on X that the S&P 500’s volatility, as measured by the “SPY US Equity Hist Vol” chart, reached 74 in early April, exceeding Bitcoin’s (BTC) 71 level. Source: Eric BalchunasThe increase marks a significant deviation from the S&P 500’s long-term volatility average, which is below 20. For Bitcoin though, extreme volatility has been a feature since the asset’s inception. “Bitcoin’s volatility remains elevated at 3.9 and 4.6 times that of gold and global equities, respectively,” according to BlackRock. While Bitcoin’s average volatility has declined over time, it tends to experience much higher price swings than more established assets. Source: BlackRockStocks are experiencing crisis-level volatility due to Trump’s trade war, which threatened duties of anywhere from 10% to 50% on imports from America’s largest trading partners. While Trump has since paused some of his tariffs for 90 days, the administration has ratcheted up duties on Chinese imports to at least 145%. The volatility has also extended into other assets, most notably US Treasurys, which experienced a large sell-off this week. The yield on the 10-year Treasury bond is on track for its steepest rise since 2001.Related: As Trump tanks Bitcoin, PMI offers a roadmap of what comes nextDespite “macro relief,” Bitcoin remains under pressureUS equity markets experienced a historic relief rally on April 9 after Trump’s tariff pause. However, the “macro relief” didn’t extend to Bitcoin or its spot exchange traded funds (ETFs) in any meaningful way, which is a sign that “institutional confidence remains cautious in the near term,” Bitfinex analysts told Cointelegraph in a note. “After January’s record inflows, ETF demand has cooled, with several products seeing net outflows in recent weeks,” the analysts said. “This reflects hesitation among large allocators who may be waiting for more favorable entry points or clearer regulatory guidance.” The US spot Bitcoin ETFs have experienced six consecutive days of outflows. Source: FarsideDespite Bitcoin’s disappointing performance, Bitfinex said the second quarter through the end of 2025 is potentially bullish for the asset class as a whole as “new narratives take hold,” such as sovereign accumulation and growth in real-world asset tokenization.Unchained’s director of market research, Joe Burnett, shared a similar view, arguing that Bitcoin has more attractive characteristics for long-term investors who are worried about government policy and fiat risk impacting their portfolios. While the S&P 500’s volatility spike is likely to be short-lived, Burnett said its recent performance “challenges the long-held belief that traditional markets are safer, less risky, or more stable.” Related: Weaker yuan is ‘bullish for BTC’ as Chinese capital flocks to crypto — Bybit CEO
Trump memecoins worth $321M to hit the market next week
United States President Donald Trump’s official memecoin is set to unlock $321 million worth of vested tokens on April 18.Token vesting tracker Tokenomist data shows that 40 million Trump tokens will be released in a cliff unlock, meaning the tokens will be available all at once. With the tokens currently trading at about $8, the unlock represents about $321 million in supply entering the market at once.Token vesting is a common practice in the crypto space to incentivize long-term holding and prevent early investors or team members from dumping tokens during the start of the project. Instead, projects impose a vesting period that allows individuals or entities to gradually get access to the tokens. Trump memecoin down 89% since its peakWhile the token’s creators reportedly profited by more than $350 million, retail investors have not fared as well. Blockchain analytics firm Chainalysis estimates that at least 813,000 wallets suffered losses totaling roughly $2 billion following the memecoin’s rapid rise and fall.Trump’s official token has seen a sharp decrease in value since its peak. On Jan. 19, the token reached an all-time high (ATH) of $73.43. This happened a day before the then-incoming US president was inaugurated. The hype surrounding the token has died down since. Its current value of $8 represents an 89% drop since its ATH. The forthcoming token unlock might also cause a further price drop for the Trump memecoin. Massive token unlocks are often followed by sharp declines in crypto prices as holders who previously couldn’t sell will be allowed to offload their crypto. In March 2024, Arbitrum unlocked $2.32 billion in vested crypto tokens. At the time, its ARB token was worth $1.89. However, the event was followed by a decline in the crypto asset’s value, with the token trading at $0.29 at the time of writing, an 84% drop since the unlock. The Trump token is the largest single crypto unlock scheduled for the week of April 14–20. It accounts for roughly 61% of the total $519 million in tokens set to be released across several projects, according to Tokenomist.$519 million in locked crypto tokens will be released next week. Source: TokenomistRelated: Trump administration reportedly shutters DOJ’s crypto enforcement teamTokens worth $519 million due to be unlocked next weekIn addition to Trump’s memecoin, projects including Arbitrum, Fasttoken and Starknet will release vested tokens next week. FTN’s unlock is the second-biggest release after Trump’s memecoin. Tokenomist data shows the project will release 20 million FTN worth $80 million. The crypto assets are allocated to the team and its founders. Arbitrum will release ARB (ARB) tokens worth over $27 million next week, which will be unlocked for its founders, team members and private investors. Meanwhile, Starknet will release 127 million STRK (STRK) tokens worth $16 million. Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research
New York bill proposes legalizing Bitcoin, crypto for state payments
A New York lawmaker has introduced legislation that would allow state agencies to accept cryptocurrency payments, signaling growing political momentum for digital asset integration in public services.Assembly Bill A7788, introduced by Assemblyman Clyde Vanel, seeks to amend state financial law to allow New York state agencies to accept cryptocurrencies as a form of payment.It would permit state agencies to accept payments in Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), according to the bill’s text.Source: Nysenate.govAccording to the bill, state offices could authorize crypto payments for “fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts,” as well as penalties, special assessments and interest.Related: Trump’s tariff escalation exposes ‘deeper fractures’ in global financial systemCryptocurrency legislation is becoming a focal point in New York, with Bill A7788 marking the state’s second crypto-focused legislation in a little over a month.In March, New York introduced Bill A06515, aiming to establish criminal penalties to prevent cryptocurrency fraud and protect investors from rug pulls.Crypto-focused legislation has gathered momentum since President Donald Trump took office on Jan. 20, with Trump signaling during his campaign that his administration intends to make crypto policy a national priority, as well as making the US a global hub for blockchain innovation.Related: Illinois Senate passes crypto bill to fight fraud and rug pullsNew York may mandate state “service fee” on crypto paymentsIf passed, the bill would mark a significant shift in how New York handles digital assets. It would allow state entities to integrate cryptocurrency into the payment infrastructure used for collecting public funds.The proposal also includes a clause allowing the state to impose a service fee on those choosing to pay with crypto. According to the text, the state may require “a service fee not exceeding costs incurred by the state in connection with the cryptocurrency payment transaction.” This could include transaction costs or fees owed to crypto issuers.Assembly Bill A7788 has been referred to the Assembly Committee for review and may advance to the state Senate as the next step.New York’s legislation comes shortly after the state of Illinois passed a crypto bill to fight fraud and rug pulls, after the recent wave of insider schemes related to memecoins, Cointelegraph reported on April 11.Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set
Grayscale and Osprey end 2-year legal fight over Bitcoin ETF promotion
Asset managers Osprey Funds and Grayscale Investments agreed to settle a lawsuit over alleged violations of Connecticut law in the advertising and promotion of Grayscale’s Bitcoin exchange-traded fund (ETF). According to an April 9 court filing, the parties agreed to settle the two-year-old case and are finalizing documentation and settlement terms. The filing noted that once those steps are completed, Osprey will withdraw its appeal.“Soon after this appeal was filed, the parties reached a settlement of this case,” the motion stated. “It is expected that all these tasks can be done within 45 days, and it is uncertain whether a shorter extension would suffice.”Details of the settlement have not been made public. Grayscale and Osprey reach settlementThe legal battle between the two firms started on Jan. 30, 2023, when Osprey filed a suit in the Connecticut Superior Court. Osprey claimed it was Grayscale’s only competitor in the over-the-counter Bitcoin (BTC) trust market and that Grayscale had maintained its market share through deceit. Osprey claimed Grayscale promoted its Grayscale Bitcoin Trust (GBTC) as a means to access a spot Bitcoin ETF through a conversion. Osprey argued that the conversion was presented as a certainty, despite regulatory uncertainty at the time.Grayscale’s application to convert GBTC into a spot ETF was approved by the US Securities and Exchange Commission in January 2024. An August 2023 ruling compelled the SEC to reconsider its rejection of Grayscale’s application to convert the fund into an ETF. The SEC’s approval allowed GBTC to transition into a spot ETF and begin trading on the NYSE Arca exchange.Related: Crypto ETPs shed $240M last week amid US trade tariffs — CoinSharesLawsuit settlement follows Osprey appeal On Feb. 7, Judge Mark Gould sided with Grayscale, ruling that Osprey’s claims against the asset manager were exempted from the Connecticut Unfair Trade Practices Act. Osprey responded by filing a motion for reargument on Feb. 10. The fund claimed that Gould’s ruling came “before the close of discovery,” which is the formal evidence-gathering phase of a lawsuit.The fund claimed that the ruling overlooked the differences between how the Federal Trade Commission and Connecticut courts treat deceptive advertising. The settlement ended one of the more prominent legal clashes among crypto asset managers competing for early ETF dominance. Grayscale’s GBTC remains one of the largest Bitcoin investment vehicles in the United States.Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express
Fartcoin rallies 104% in a week — Will Solana (SOL) price catch up?
Solana-based memecoin Fartcoin (FARTCOIN) has outperformed the broader crypto market so far in April, rising over 104% versus SOL being down 2% for the week. As of April 10, it was trading for as high as $0.87.FARTCOIN/USD vs. TOTAL crypto market cap 30-day performance. Source: TradingViewThe cryptocurrency’s outperformance appears despite US President Donald Trump’s seesaw tariff announcements that have wiped nearly $160 billion from the crypto market capitalization in April.FARTCOIN has outperformed even other memecoins inside the Solana ecosystem, the primary being Official Trump (TRUMP), which has dropped by approximately 25% in April. As it seems, the third-largest Solana memecoin could rise another 30% in April due to a classic bullish continuation setup.FARTCOIN bull flag hints a new highsFARTCOIN’s bullish technical outlook arises from its prevailing bull flag setup.On April 10, FARTCOIN was breaking out of the channel range to the upside. FARTCOIN/USDT four-hour price chart. Source: TradingViewThis trend projects a potential move toward $0.95—just under the psychologically significant $1 mark—by April.The relative strength index (RSI) is hovering in bullish territory above 66, suggesting there’s still room for further gains before entering overbought conditions above the 70 mark. Additionally, FARTCOIN’s price is gaining support from its 50-4H (red) and 200-4H (blue) exponential moving averages (EMA). As long as Fartcoin stays above them, the bull flag breakout may play out in full, potentially resulting in a rally to $0.95.FARTCOIN mimicks Pepe’s path to a $3 billion market capFartcoin is showing the same signs that preceded Pepe’s (PEPE) explosive run from around $300 million to over $3 billion in market cap in the 2023-2024 period, according to market analyst @theunipcs.“I’m talking $300m to $500m in daily [spot] volume,” the analyst wrote about Fartcoin while mentioning its absence at Binance, Coinbase, Bybit, Upbit, and OKX exchanges.In the past 24 hours, FARTCOIN’s volume has been over $446.84 million versus Bonk’s (BONK) $129.85 million and Shiba Inu’s (SHIB) $319.43 million, according to data resource CoinMarketCap. Top memecoins and their price and volume performances. Source: CoinMarketCapMeanwhile, Fartcoin is going head-to-head with TRUMP, which posted approximately $661.78 million in trading volume over the past 24 hours. However, onchain data reveals that Fartcoin is processing nearly double the value in actual transfers, suggesting deeper engagement and utility despite TRUMP’s headline volume figures.FARTCOIN vs. TRUMP daily transfer value chart. Source: SOLSCANAs a result, FARTCOIN appears to be in the middle of a powerful hype-driven rally, which improves its interim bullish outlook. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Atomic, Exodus wallets targeted in new cybersecurity exploit
Users of the Atomic and Exodus wallets are being targeted by threat actors uploading malicious software packages to online coding repositories to steal crypto private keys in the latest cybersecurity threat identified by security professionals. According to cybersecurity researchers at ReversingLabs, the exploit works by hiding malicious code in seemingly legitimate npm software packages, which are pre-built bundles of code widely used by software developers.These malicious software packages target locally installed Atomic Wallet and Exodus Wallet files by installing a patch that overwrites the files to compromise the user interface and fool the unsuspecting victim into sending crypto to scam addresses.Software supply chain attacks are an emerging threat vector targeting crypto holders as the industry continues to play a cat-and-mouse game with hackers attempting to steal user funds using increasingly sophisticated methods to avoid detection.The malicious code contained in the pdf-to-office package. Source: ReversingLabsRelated: $2B lost to crypto hacks in Q1 2025, $1.63B from access control flawsHackers target crypto community in increasingly sophisticated attacksAccording to cybersecurity firm Hacken, crypto hacks and exploits cost the industry roughly $2 billion in losses during Q1 2025, most of which came from the $1.4 billion Bybit hack in February.The SafeWallet developer released a post-mortem update in March 2025 outlining a forensic analysis of the single biggest hack in crypto history.SafeWallet’s analysis ultimately found that a Safe developer’s computer was compromised by hackers who hijacked the developer’s Amazon Web Services session tokens to access the firm’s development environment and set up the Bybit attack.Jameson Lopp, a cypherpunk and chief security officer at Bitcoin (BTC) custody company Casa, recently sounded the alarm on BTC address poisoning attacks.A breakdown of the losses caused by crypto hacks and exploits in Q1 2025. Source: HackenAddress poisoning attacks target victims by generating destination addresses that match the first four and the last four characters of an address from the victim’s transaction history.The threat actor then sends a transaction from the malicious address for a small amount, typically below one dollar, to the target so that the address will show up in a victim’s transaction history.If the victim is not paying attention by carefully examining the entire address, they may mistakenly send funds to the malicious address, which closely resembles the destination.Cybersecurity firm Cyvers estimates that address poisoning attacks were responsible for $1.2 million in stolen funds in March 2025 alone.Magazine: $55M DeFi Saver phish, copy2pwn hijacks your clipboard: Crypto Sec
Bitcoin, stocks shun CPI print win and give up tariff relief gains — Will BTC whales save the day?
Bitcoin (BTC) price failed to hold its weekly open gains on April 10 as US stocks ignored positive inflation data.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC price volatility ticking higher around the release of the March Consumer Price Index (CPI) numbers.These numbers came in broadly below expectations, revealing slowing inflationary forces despite mass-market disruption due to US trade tariffs.An official press release from the US Bureau of Labor Statistics (BLS) stated:“The all items index rose 2.4 percent for the 12 months ending March, after rising 2.8 percent over the 12 months ending February. The all items less food and energy index rose 2.8 percent over the last 12 months, the smallest 12-month increase since March 2021.”US CPI 12-month % change. Source: BLSWhile notionally a tailwind for risk assets, US stocks were in no mood for relief at the open. The S&P 500 and Nasdaq Composite Index were down 3% and 3.7%, respectively, at the time of writing.“Markets think the recently strong jobs report and cool inflation data gives Trump the ‘green light’ to continue the trade war,” trading resource The Kobeissi Letter suggested in part of a response on X.Kobeissi nonetheless acknowledged the implications of rapidly declining inflation — something which tariffs had yet to influence.“This marks the lowest Core CPI inflation rate in 4 years,” it continued in a separate X thread. “It also puts Headline CPI inflation just 40 basis points above the Fed’s 2% target. Inflation is down 60 basis points over the last 3 months alone.”BTC price rebound may rest with ”Spoofy the Whale”Turning to BTC price action, market participants were in a wait-and-see mode after the US paused the majority of its tariff implementations for 90 days.Related: Crypto trading firm warns of ‘classic bull trap’ as Bitcoin tags $82.7KFor popular trader Daan Crypto Trades, a reclaim of at least $83,000 was necessary as an initial step for bulls.“$BTC Saw a strong move after the tariff pause was announced,” he told X followers.“Where BTC was more resilient on the downside, we saw equities pump more on the back of this pause (which makes sense as those are directly influenced by the tariffs).”An accompanying chart showed nearby key trend lines around the spot price.“BTC traded right back into the 4H 200MA (Purple) which has capped price over the past couple of weeks. That $83-85K is a key level to overtake for the bulls,” he continued.“Right below we can see the ~$81.1K horizontal being a key level that sees quite a lot of action. I think it’s a good one to watch in the short term. Trading below that area could turn this into a nasty deviation/stop hunt.”BTC/USDT perpetual swaps 4-hour chart. Source: Daan Crypto Trades/XAnalyzing order book liquidity, Keith Alan, co-founder of trading resource Material Indicators, drew attention to both the 21-day and 50-day simple moving averages (SMA) on the daily chart.“First attempt at breaking resistance at the 21-Day MA was rejected, however BTC bid liquidity is moving higher so I think we’ll see another attempt,” he summarized earlier on the day. “If bulls can R/S Flip the 21-Day, there is even stronger resistance where liquidity is stacked around the trend line and the 50-Day MA.”BTC/USD 1-day chart with 21, 50 SMA. Source: Cointelegraph/TradingViewAlan reiterated the role of large-volume traders shifting liquidity above and below Bitcoin’s spot price to influence price action. The actions of one entity in particular, which he previously dubbed “Spoofy the Whale,” remained a point of consideration.“If ‘Spoofy’ will give us a roof pull, we’ll get a shot at the 100-Day and the 2025 open at $93.3k, which is the gateway back to 6-figure Bitcoin,” he concluded.BTC/USDT order book liquidity data. Source: Keith Alan/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.