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Bullish
Bitcoin approaches 100K as Trump softens on China and BTC ETF demand rises.
Bitcoin hits 94k, a 6-week high.
Trump may soften China's trade position.
The liquidations indicate a short squeeze.
BTC ETFs saw most inflows since January.
Bitcoin rises over 2000 SMA and declining trendline
Bitcoin has gained over 6% in 24 hours, 12% in 7 days, and 20% from its April 7 low of 74.4k. Not just Bitcoin has gained, but other cryptocurrencies have. Ethereum has climbed 10%, BNB 2%, and XRP 7% in the previous 24 hours. SOL has risen 9%.
Why is Bitcoin rising?
The #TRUMP administration's trade tariffs have driven mood in recent weeks. The recent deescalation in US-China trade tensions is helping risk assets rebound.
Treasury Secretary Scott Bessent called the China tariff impasse โunsustainable,โ suggesting a deescalation. Trump then suggested that tariffs on China will be lowered, suggesting a softer posture.
Bitcoin soaring over 94k indicates risk-taking due to global trade optimism. US markets are expected to begin over 2% higher after yesterday's gains.
The inauguration of Paul Atkins as SEC Commissioner is also positive for crypto. Active bitcoin enthusiast Aitkins said his first aim would be to develop a reasonable, clear, and principled regulatory base.
This week's net inflows for BTC ETFs were $1.32 billion, including $936.43 million on April 22. This is the greatest daily BTC ETF inflow since President Trump took office and Bitcoin hit a record high.
BTC/USD has recovered from 74.4k, breaking resistance levels including the multi-month falling trendline to the 109.5k ATH, the 50 and 200 SMA, and 90k to reach 94k. This and the RSI over 50 give buyers hope for more increases.
Bulls must reach 100k psychologically next. A surge over 100k would highlight 105k before 109.5k and record highs.
90k, the round figure, and the 100 SMA provide immediate downside support. We concentrate on the 200 SMA at 88.5k below. A breach below 85k would reverse the near-term advance and put 80k into play.
#MarketRebound #BTC #TrumpVsPowell
Bitcoin hits 94k, a 6-week high.
Trump may soften China's trade position.
The liquidations indicate a short squeeze.
BTC ETFs saw most inflows since January.
Bitcoin rises over 2000 SMA and declining trendline
Bitcoin has gained over 6% in 24 hours, 12% in 7 days, and 20% from its April 7 low of 74.4k. Not just Bitcoin has gained, but other cryptocurrencies have. Ethereum has climbed 10%, BNB 2%, and XRP 7% in the previous 24 hours. SOL has risen 9%.
Why is Bitcoin rising?
The #TRUMP administration's trade tariffs have driven mood in recent weeks. The recent deescalation in US-China trade tensions is helping risk assets rebound.
Treasury Secretary Scott Bessent called the China tariff impasse โunsustainable,โ suggesting a deescalation. Trump then suggested that tariffs on China will be lowered, suggesting a softer posture.
Bitcoin soaring over 94k indicates risk-taking due to global trade optimism. US markets are expected to begin over 2% higher after yesterday's gains.
The inauguration of Paul Atkins as SEC Commissioner is also positive for crypto. Active bitcoin enthusiast Aitkins said his first aim would be to develop a reasonable, clear, and principled regulatory base.
This week's net inflows for BTC ETFs were $1.32 billion, including $936.43 million on April 22. This is the greatest daily BTC ETF inflow since President Trump took office and Bitcoin hit a record high.
BTC/USD has recovered from 74.4k, breaking resistance levels including the multi-month falling trendline to the 109.5k ATH, the 50 and 200 SMA, and 90k to reach 94k. This and the RSI over 50 give buyers hope for more increases.
Bulls must reach 100k psychologically next. A surge over 100k would highlight 105k before 109.5k and record highs.
90k, the round figure, and the 100 SMA provide immediate downside support. We concentrate on the 200 SMA at 88.5k below. A breach below 85k would reverse the near-term advance and put 80k into play.
#MarketRebound #BTC #TrumpVsPowell
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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