Bitcoin Weekly Forecast: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand :
Bitcoin price stabilizes around $103,000 on Friday after facing multiple rejections at the key $105,000 resistance level throughout the week.
Risk-on sentiment prevails, driven by global trade deals, strong corporate accumulation, and spot ETF inflows.
Traders should be cautious as defunct exchange FTX announces its second round of repayments to creditors.
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week. Risk-on sentiment prevails, driven by global trade deals between the United States (US) and other countries, strong corporate accumulation, and spot Exchange Traded Fund (ETF) inflows. However, traders should be cautious as defunct exchange FTX announces its second round of repayments, which would inject volatility into the crypto market.
Trade deals and softer US CPI fuel risk-on sentiment
Global markets were buoyed this week by major trade developments and cooling inflation data from the US.
On Monday, the US and China agreed to a 90-day tariff reduction deal, lowering US tariffs on Chinese goods from 145% to 30%, and Chinese tariffs on US goods from 125% to 10%. The agreement followed high-level talks in Geneva, led by US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, alongside Chinese Vice Premier He Lifeng.
A trade deal between the US and the UK was also announced last week. Both deals show signs of easing global trade tariff tensions and uncertainty, boosting investors' confidence and risk-on sentiment for risk assets like Bitcoin.
The QCP’s capital report this week highlighted “a rollback in tariffs and sparking a fresh wave of risk-on sentiment,” buoyed by an unexpectedly bullish turn in US trade diplomacy.
On Tuesday, Washington signed a landmark $600 billion trade pact with Saudi Arabia.
During the same period, the US Consumer Price Index (CPI) data came in below expectations.
