Bitunix analyst: China's PMI rebound boosts market sentiment, the market is paying attention to the progress of reciprocal tariffs, and BTC's long-term support level is $78,500

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MarsBit
3 days ago
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Mars Finance News, on March 31, China's manufacturing PMI rebounded to 50.5%, indicating economic activity warming up, but the PMI for small and medium-sized enterprises remains below the boom-bust line, with market confidence still uncertain. Meanwhile, the market is focusing on the "reciprocal tariff" policy that the United States will announce on April 2, which may impose additional tariffs on Chinese imported goods, intensifying global economic pressure. In the short term, the recovery of China's economic data may be favorable for BTC, but if the U.S. tariff policy triggers market risk aversion, it could put pressure on BTC. Bitunix analyst perspective: The market still faces external policy risks, and BTC may test the support level of $78,500 in the short term. If risk sentiment continues to deteriorate, BTC may retest the critical support of $75,000, but if BTC breaks through $82,500, it may challenge the range of $85,000-$86,000, and investors need to cautiously observe market trends.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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