FameEX Hot Topics | Bitcoin Price Hits $86K as Trump’s Tariff Relief Increases Breakout Potential

On April 13, Bitcoin reached an 11-day high, hitting $86,000 for the first time since April 2. This price surge was largely attributed to a relief rally sparked by changes in U.S. financial policies, specifically President Donald Trump's decision to exclude key products from his ongoing tariffs on China. The move had an immediate positive impact on the cryptocurrency market, drawing attention from traders and investors alike.

The surge in Bitcoin's price was closely aligned with the broader financial market trends, as the relief rally in traditional markets provided a foundation for crypto markets to follow suit. Despite the initial optimism, Bitcoin's price faced volatility after the weekend, as traditional markets remained closed, resulting in lower liquidity and heightened price fluctuations. By the end of the weekend, Bitcoin had fallen back under $84,000, prompting some traders to question whether the gains would hold.

In the midst of the rally, analysts pointed out the crucial role of the 200-day exponential moving average (EMA) at $85,000. Daan Crypto Trades noted that Bitcoin was navigating through this key technical indicator, but with the weekend’s volatility and the upcoming news about tariffs and big tech earnings, uncertainty remained. The presence of lower liquidity over the weekend further contributed to the speculative nature of the price movements.

Not all traders were convinced of a lasting bullish trend. Popular trader Peter suggested that the rebound from recent lows appeared "more corrective than impulsive," indicating that it may not represent a true breakout. This cautious stance reflects the uncertainty traders feel about whether Bitcoin can sustain its upward momentum.

On the other hand, analyst Rekt Capital remained optimistic but cautious, highlighting a long-term daily downtrend that has been in place since late 2024. While Bitcoin has briefly closed above this downtrend in recent sessions, Rekt Capital stressed the importance of a successful retest for a confirmed breakout. The long-term downtrend remains a critical barrier for Bitcoin’s potential bull market, and traders will be closely monitoring whether this resistance can be overcome in the coming days.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.