Bitcoin rebounds as traders spot China ‘weaker yuan’ chart, but US trade war caps $80K BTC rally

Bitcoin finds stability as US stocks bounce back, and the longer-term outlook improves as traders anticipate China’s yuan devaluation move to benefit BTC price.

Bitcoin (BTC) danced around $80,000 at the April 8 Wall Street open as US stock markets staged a fresh recovery, but unresolved tensions between China and the US continue to put a damper on BTC’s upside.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC price volatility cooling while the S&P 500 and Nasdaq Composite Index gained up to 4.3% in the first few hours of trading.

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