$BTC
Bitcoin Extends Recovery Amid Easing Trade War Tensions
Bitcoin is on the rise for the second consecutive day, gaining over 1.5% in the past 24 hours and building on its rebound from last week’s five-month low of $74.4K. The leading cryptocurrency has now climbed 15% from that level and is attempting to break out from a descending trendline. A continued drop in U.S. Treasury yields—spurred by easing trade tensions—could fuel a move toward the $90K mark.
Despite ongoing outflows from Bitcoin ETFs, accumulation by whales and long-term holders (LTHs) points to underlying strength in the market.
On the macro front, investor sentiment improved after former President Trump signaled openness to temporary exemptions on vehicle import tariffs. The move could provide relief to major trade partners such as Mexico, Canada, and Europe. This follows earlier rollbacks on proposed tariffs, including exclusions for consumer electronics like smartphones and laptops, much of which are sourced from China.
With trade war concerns cooling and yields pulling back, risk assets like Bitcoin are finding renewed support
