Bitcoin’s been stuck in a rut, bouncing around between $81,000 and $88,000 for a while now. It’s been trying to break above $90,000 for over a month, but hasn’t managed it yet. This reflects the overall uncertainty in the financial markets, thanks to global trade tensions and unpredictable government policies.
A Rollercoaster Ride
The price has been pretty volatile lately, making it hard to tell what’s going to happen next. Buyers are trying to hold onto support levels, but sellers are pushing back. It’s a critical moment for Bitcoin; a successful push above resistance levels could signal a recovery.
Unexpected Optimism
Despite the uncertainty, there’s a positive sign: the CryptoQuant Advanced Sentiment Index shows strong bullish sentiment. This could mean buyers are getting more confident. If this positive sentiment continues and the price follows suit, it might be the start of a more stable upward trend for Bitcoin.
Trump’s Tariffs and Bitcoin’s Reaction
Things got even more interesting when President Trump announced new tariffs. This sent shockwaves through the markets, adding to the existing uncertainty. Bitcoin reacted immediately with some sharp price swings, but it managed to hold above key support levels. Even with the volatility, top analysts are pointing to the strong bullish sentiment as a positive indicator.
Technical Challenges Remain
Bitcoin is still trading below important technical indicators like the 200-day and exponential moving averages (around $86,000). It’s clinging to support at around $81,000. If this level breaks, a bigger price drop could happen. Breaking back above $90,000 would be a huge win for buyers, confirming a renewed bullish trend. Until then, things remain uncertain. Buyers need to hold the line and build momentum to avoid a further slide.
