On April 13, Bitcoin hit an 11-day high, breaking through $86,000 for the first time. The surge in its price was largely attributed to changes in U.S. tariff policy, specifically President Trump’s decision to exclude some key products from tariffs against China. This move had an immediate positive impact on the cryptocurrency market, attracting the attention of traders and investors.
The rise in Bitcoin prices is closely related to the trend of financial markets, and the rebound in traditional markets provides a basis for the rise in crypto markets. Although the change in tariff policy is positive for the crypto market, Bitcoin prices fluctuated again after the weekend, as traditional markets were closed, resulting in reduced liquidity and increased price volatility. By the end of the weekend, Bitcoin prices fell back below $84,000, causing some traders to question whether its weekly gains could be maintained.
During this rebound, analysts pointed out that Bitcoin’s 200-day moving average (EMA) played a very important role at the key point of $85,000. The uncertainty in the crypto market remains high due to multiple factors such as increased volatility over the weekend and the upcoming tariff exemptions and earnings reports of major technology companies. Low liquidity in the crypto market over the weekend also further exacerbated the volatility of Bitcoin prices.
Not all traders are currently convinced that this rise can be sustained in the long term. Peter, a well-known trader, said that judging from the recent rebound from Bitcoin’s lows, this wave of gains is more corrective than impulsive, indicating that this may not be a true upward breakout. This cautious attitude reflects that traders have great doubts about whether Bitcoin can maintain its upward momentum.
On the other hand, analyst Rekt Capital remains cautiously optimistic, emphasizing that Bitcoin prices have formed a long-term daily downward trend since the end of 2024. Although Bitcoin prices have briefly broken through this downward trend several times recently, Rekt Capital emphasizes that a successful backtest is still needed to confirm the breakthrough. The long-term downward trend remains a key obstacle to Bitcoin’s bull market potential, and traders will pay close attention to whether this resistance level can be broken in the coming days.
