- Bitcoin‘s MACD histogram has turned negative, though price remains range-bound between $90,000-$100,000.
- Former President Trump’s proposed 25% tariff on steel and aluminum imports creates potential market uncertainty.
- Consumer inflation expectations jumped to 4.3% in February, the highest since November 2023.
- Two-year inflation swaps reached new highs at 2.72%, suggesting markets expect prolonged Fed rate levels.
- Technical indicators require price action confirmation, with $90,000 remaining a crucial support level.
A key momentum indicator for Bitcoin has shifted bearish just as Donald Trump‘s proposed tariff policies threaten market stability, though the cryptocurrency continues trading within established ranges near all-time highs.
The Moving Average Convergence Divergence (MACD) histogram, which measures trend strength by comparing 12-week and 26-week price averages, has dipped below zero on Bitcoin’s weekly chart. While this traditionally signals bearish momentum, the cryptocurrency remains resilient within its $90,000-$100,000 trading range.
Market concerns have intensified after Trump announced plans to implement 25% tariffs on steel and aluminum imports, with additional European Union tariffs expected later this month. The University of Michigan’s consumer sentiment survey revealed inflation expectations surged to 4.3% in February, up from 3.3% in January.
Alfonso Peccatiello, author of Macro Compass, noted on X: “The market is interpreting the Fed to be pretty much on a long pause: growth is holding up okay, and the idea is that even if inflation drops to 2% the Fed doesn’t need to be in a hurry to cut.”
Technical analysts emphasize that while the MACD’s bearish cross warrants attention, the indicator’s signals require confirmation through price action. The previous bullish MACD signal in October coincided with Bitcoin breaking out of its consolidation phase, leading to the current bull run.
Traders are now closely monitoring the $90,000 support level, as a breakdown below this threshold would validate the MACD’s bearish signal. The upcoming U.S. Consumer Price Index report on February 12 could provide additional direction for both cryptocurrency and traditional markets.
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