$BTC

The recent rise of Bitcoin coincides with a bullish pivot of the S&P 500, and the next price targets for BTC are in the range of $120,000 to $150,000, says Diego Pohl, analyst at Crypto Investidor.

The price of Bitcoin (BTC) consolidated a rising peak on the weekly chart by closing on Sunday, April 27, at $93,749. The rise of over 10% confirmed the highest weekly close since November 18, the peak of euphoria following Donald Trump's victory in the US presidential elections, and restored positive sentiment in the market.

The Cryptocurrency Fear and Greed Index reached a peak of 72 points on April 23 and is currently at 60/100, while Bitcoin ETFs recorded inflows of $3.18 billion – the highest volume in 18 weeks.



Cryptocurrency Fear and Greed Index. Source: Alternative.me

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Trump's setbacks in the trade war and his campaign against the president of the US Central Bank (Fed), Jerome Powell, were crucial for the resumption of Bitcoin's rise and US stocks, as highlighted by the weekly market report from digital asset manager QR Asset Management:

“The American stock indices reacted significantly, with the S&P 500 and Nasdaq closing the week with gains of over 8%, partially recovering previous losses. Bitcoin continued to highlight its position as an asset uncorrelated to the traditional market, reinforcing a positive movement that had already started in the previous week, when traditional indices were still facing declines.”

However, uncertainties in the macroeconomic scenario have not completely dissipated, warns the report. Even with the pause in the implementation of tariffs and the prospects for negotiating trade agreements, imports of Chinese products into the US are already declining, increasing the risks of an inflationary rebound in the near future.