After the morning breakthrough of the $93,000 mark, BTC updated its two-month high and held around $92-93 thousand. The rally was fueled by a combination of factors:
Political optimism surrounding the US-China relationship. The US president stated that tariffs on imports from China will 'significantly decrease,' and the treasury secretary confirmed that the current tariff deadlock is 'unacceptable' and requires de-escalation. Markets interpreted the signal as a reduction in geopolitical risks and revived demand for risk assets, including crypto.
Industry-friendly appointment at the SEC. The Senate confirmed a new head of the Securities and Exchange Commission, known for a favorable attitude towards bitcoin ETFs. Expectations of softer regulation stimulated inflows into 'spot' ETFs, with their total net inflow in one day exceeding $720 million.
A series of 'short' liquidations. On futures exchanges, short positions worth ~$63 million were closed, adding momentum to purchases and pushing the price through the technical level of $91,500.
Weakening dollar. After sharp fluctuations around White House statements regarding the Federal Reserve, the DXY index shifted from an upward trend to a gradual decline, making bitcoin more attractive as 'digital gold.'
Preparation for the halving-2026. Investors recall the historical pattern: 12-18 months before the reward reduction, miners increase their reserves, and funds buy 'for the future.' This fuels the narrative of limited supply and increases long-term demand.
Together, these factors created a 'perfect storm' for a sharp rise. Although volatility remains high—BTC has already bounced down several hundred dollars in a day—the balance of news still leans towards the 'bulls,' and traders are closely watching the $94,000 area as the next resistance.
Here are the key levels of our idea: the green zone is the planned 'buy limit,' the red dashed line is the stop, and the orange and purple are targets 1 and 2. The chart is illustrative but reflects the risk-reward ratio.