Headline driven” BTC price gains draw scrutiny

Just $6,000 from new all-time highs, per data from Cointelegraph Markets Pro and TradingView, BTC price action has stunned the market by jumping 10% in days.

The pace of the BTC price gains has come as a surprise for many, but longer-term perspectives show where the most difficult battleground lies.

“Since this current impulse was primarily headline driven again this puts markets into a crucial & critical trading day,” trader Skew said about the impetus for the move in an X post on May 8.

Skew refers to a common theme uniting BTC price volatility in recent weeks and months. Bitcoin and risk assets have become highly sensitive to headlines and even social media posts involving US President Donald Trump and his trade tariffs.

The latest event involves a trade deal between the US and UK, but how long optimism endures remains an open bet.

“I’m sure markets are hoping this has a kick on effect to get trade deals on the table for other major trade parties like EU & China,” Skew continued.

Another X post said what is needed now are “passive flows,” strong volume to support newly revisited levels and turn them into strong support.