Bitcoin’s price has recently surged above $83,000, reflecting significant market movements influenced by global economic developments.
After a 8.6% surge today, Bitcoin’s price reached $83,430, following President Trump’s announcement of a 90-day pause on reciprocal tariffs, which sparked a broad market rally – not just in crypto but the stock market as well.
This surge also positively impacted other cryptocurrencies and crypto-related stocks. Ethereum (ETH) rose to around $1,650, while Solana (SOL) and XRP experienced double-digit percentage gains. Companies with significant crypto holdings, such as MicroStrategy and Coinbase Global, saw their stock prices increase by nearly 25% and 17%, respectively.
Analysts suggest that Bitcoin’s resilience amid stock market volatility indicates its potential decoupling from traditional financial markets. Some view Bitcoin as a hedge against unstable government and financial systems. In the past 24 hours $236.23 million were liquidated from the Bitcoin market – $87.55 million in long positions and $148.68 million in shorts.
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While the recent price surge has renewed optimism among investors, market analysts remain divided on Bitcoin’s future trajectory. Some predict a potential rise toward the $100,000 mark, while others advise caution due to ongoing economic uncertainties.
Despite the rebound, Bitcoin’s 1-day technical analysis from TradingView remains bearish with both the summary and moving averages pointing to “sell” with 10 and 9 signals, respectively.
