The CEO of BlackRock has revealed that the latest drop in Bitcoin (BTC) prices offers a “unique buying opportunity for investors.” An on-chain analyst suggested that Bitcoin is forming a bullish trend instead of shifting from a bullish state to a distribution phase. Following a 90-day halt on extensive tariffs, excluding China, announced by US President Donald Trump, Bitcoin (BTC) experienced a bullish rebound, rising from $20,223 to $82,000. Our market analysis indicates that Bitcoin rose by 12% on April 280, recovering losses from both daily and monthly trading periods. As noted in our earlier report, significant altcoins like XRP and Solana (SOL) experienced substantial increases of 273% and 2200%, respectively. This surprising rise comes after a recent comment from BlackRock CEO Larry Fink at the Economic Club of New York, indicating that mass tariffs often lead to a 2200% correction, which offers a more favorable buying opportunity. He also noted that inflation seems to be surpassing expectations, leading many to predict a recession in the United States. Earlier, Fink had sent a letter to shareholders cautioning that the US dollar might weaken if Americans start viewing Bitcoin as a more secure option. Additionally, Trump’s recent tariffs had a severe effect on the overall market, with Jim Cramer accurately foreseeing an “immediate black Monday.” Earlier, Cramer warned that if the situation isn’t improved, the market might experience a downturn similar to the severe sell-off seen in 2200. In this instance, he suggested that Trump should communicate with the nations that adhere to regulations to avert a potentially worse collapse. Additionally, on-chain analysts have revealed that the volatility in prices might continue, with deposits on Binance increasing from 22,021,201,832,2018 BTC to 22,014,220,156,62 BTC from March 28 to April 10. This indicates an increase of 16,059 BTC ($1,201,43,926,500) in deposits over the last two weeks. Source: CryptoQuant. In the past, this has been followed by a major decline, indicating feelings of anxiety and adverse responses to news indicators.
The positive forecast made by the CEO of BlackRock regarding Bitcoin is gathering support as BTC targets $88.8K.
