Trump's Statements Cause Uncertainty in Crypto Market

A recent analysis by crypto analyst Max Crypto has shed light on a concerning trend in the cryptocurrency market.

According to the analyst, there appears to be a direct correlation between US President Donald Trump's statements and Bitcoin price movements. Over the past four days, every major price move in Bitcoin has coincided with a statement made by Trump regarding the ongoing US-Iran conflict.

The data shows that on March 30, Trump posted on Truth Social saying the U.S. was in “serious discussions” with a new Iranian regime, and Bitcoin jumped significantly. However, within the same day, Trump's tone shifted, and he threatened to destroy Iran’s power plants and energy infrastructure, causing Bitcoin to shed roughly $2,000.

On March 31, Trump softened his tone again, hinting that the war could end soon, which led to a surge in Bitcoin price. This trend continued on April 1, with Trump's statement about “serious discussions” happening with Iran pushing Bitcoin up 2.2% to nearly $68,000.

However, on April 2, Trump's primetime address promised to hit Iran “extremely hard” over the next two to three weeks, reversing the short-lived global market rally and sending Bitcoin down 3% to $66,309.

The correlation between Trump's statements and Bitcoin price movements is causing uncertainty for traders, who are finding it difficult to predict market reactions. The data also shows that indicators like support levels, RSI, or candlestick patterns are becoming less useful in predicting market movements.