$BTC Nears $100K Amid Trade Optimism and Surging ETF Demand
Bitcoin surges to $94K, marking a 6-week peak.
Trump signals potential easing of China trade tensions.
Short squeeze evident as liquidations spike.
BTC ETFs record highest inflows since January.
BTC breaks above 2000 SMA and key downtrend line.
Bitcoin has rallied over 6% in 24 hours, 12% this week, and 20% from its April 7 low of $74.4K. The uptrend isn’t isolated—Ethereum jumped 10%, BNB 2%, and XRP 7% in the same period. SOL also gained 9%.
What’s Driving Bitcoin’s Rally?
Recent market sentiment has been influenced by shifting US-China trade dynamics. A potential de-escalation in tariffs is boosting risk assets.
Treasury Secretary Scott Bessent described the current tariff standoff as “unsustainable,” hinting at possible easing. Trump later suggested reducing China tariffs, signaling a more conciliatory approach.
Bitcoin’s surge past $94K reflects growing risk appetite amid global trade optimism. US equities are also poised for a strong open, with futures up over 2% following yesterday’s gains.
Another bullish catalyst is the appointment of crypto advocate Paul Atkins as SEC Commissioner. Atkins emphasized his priority: establishing clear, balanced regulations for digital assets.
BTC ETFs saw massive inflows this week—$1.32 billion total, including a single-day $936.43 million spike on April 22. This marks the largest daily inflow since Trump’s election and Bitcoin’s all-time high.
Technical Outlook :
BTC/USD has rebounded from $74.4K, smashing through key resistances—the multi-month descending trendline, the 50 and 200 SMAs, and the $90K barrier—to hit $94K. With the RSI above 50, bulls eye further gains.
The next psychological hurdle is $100K. A breakout could propel BTC toward $105K, then the ATH at $109.5K.
On the downside, immediate support lies at $90K (round number and 100 SMA). Below that, the 200 SMA at $88.5K is critical. A drop under $85K could negate the rally, opening a path to $80K.
#MarketRecovery