Source: Cointelegraph Original: "{title}"
Analysts warn that Bitcoin (BTC) may become part of a "classic bull trap" as the US-China trade war enters a new phase.
Trading firm QCP Capital expressed caution regarding the recent rebound in cryptocurrency prices in its latest briefing to subscribers on its Telegram channel on April 10.
Bitcoin and other cryptocurrencies, along with global stock markets, surged in the past 24 hours following US President Donald Trump's decision to suspend several new trade tariffs.
China is clearly an exception to this policy, as Trump doubled down on tariffs against China while easing pressure on other countries.
QCP believes that now is not the time to breathe easy, but rather to prepare for China's next move.
"As China is being so explicitly targeted, market participants are preparing for countermeasures from Beijing," the firm stated.
"If retaliatory measures are implemented, this frenzied rally could quickly turn into a classic bull trap."
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
This scenario will replay market behavior that has already occurred earlier this week. As reported by Cointelegraph, an unconfirmed rumor about a tariff suspension previously triggered unprecedented volatility in the stock market.
"The unexpected policy shift has temporarily alleviated market anxiety, driving down short-term cryptocurrency volatility. Nevertheless, we still advise caution," QCP continued.
"Our trading desk continues to observe upward selling pressure in May and June, indicating that market makers are taking the opportunity to offload unwanted positions."
Other analysts pointed out that the depreciation of the yuan, as a stopgap measure in the trade dispute, could become a potential positive factor driving Bitcoin's rise. The USD/CNY exchange rate hit an 18-year low of 7.35 that day.
No deal, PBOC continues a very gradual yuan weakening. Shit ‘bout to get spicy. Luckily $BTC loves money printing and associated currency weakness. pic.twitter.com/RcVkSj54O3
"The depreciation of the yuan is not just an economic signal—it is a trigger," said Sina, co-founder of asset management firm 21st Capital, in a post on the X platform regarding this topic.
"Historically, when the yuan depreciates, capital does not stay. It escapes. Part of it flows into gold, part into foreign assets—and part of the funds will flow into Bitcoin."
USD/CNY 1-month chart. Source: Cointelegraph/TradingView
Sina believes that the current macroeconomic situation will make Bitcoin investments more attractive.
"Now, combined with tariffs, slowing global trade, and a deepening crisis of trust in the traditional financial system, what is the result? The demand for neutral, borderless, incorruptible assets is increasing day by day," he summarized.
"Bitcoin is not just a hedging tool. In this world seeking to break free from the control of a single country, it is becoming a necessity."
In subsequent discussions, he acknowledged that Bitcoin may not have yet reached a long-term price bottom.
Previously, Cointelegraph reported on the ongoing rebound in Bitcoin (BTC) price targets, many of which are centered around $70,000.
Related: In turbulent markets, risk-weighted assets like gold are a lifeline.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
