Bitcoin bucks downtrend with rally to $85.8K — Are BTC bulls really back?
Bitcoin opened the week with strength but data show traders cautiously skeptical of gains to $90,000.
Bitcoin (BTC) reclaimed the $84,500 level on April 14, and the recovery appears partially fueled by the announcement of partial import tariff relief by US President Donald Trump. However, traders’ optimism faded on April 13 when it became apparent that the relaxation was temporary and that tariffs on the electronics supply chain could be revisited.
Uncertainty surrounding the ongoing trade tensions between the US and China impacted Bitcoin markets, causing traders to lose some of their regained confidence. This explains why Bitcoin’s price failed to break above $86,000 and why BTC derivatives showed limited short-term potential, potentially setting the tone for the next few days.
Bitcoin 2-month futures annualized premium. Source: Laevitas.ch
