Bitcoin Surges 6.08% to $82,000 as Trump Delays Tariffs

Bitcoin's price has rebounded from its recent lows, surging 6.08% to trade above $82,000. This uptick comes as President Donald Trump delayed tariff implementation by 90 days on several nations, leading to a sharp 10% increase in the Nasdaq index. Investors are now speculating about the formation of a Bitcoin bottom, hoping for a further rally despite the tariff delays.

Crypto analyst Ali Martinez highlighted a potential Bitcoin breakout, noting that the cryptocurrency has moved out of its previous trading channel. Martinez stated that if Bitcoin maintains its price above the critical support level of $80,700, it could reach $84,000, with further potential upside to $87,000. This bullish outlook is supported by increasing market optimism, with traders closely monitoring whether Bitcoin can sustain its momentum above key support zones.

Prominent crypto analyst Rekt Capital observed that Bitcoin is just 2% away from re-testing its downtrend, signaling a potential breakout into a new technical uptrend. This development has fueled optimism among traders, with many eyeing the possibility of a sustained bullish reversal. Rekt Capital also noted that Bitcoin's price has been between two critical Bull Market Exponential Moving Averages (EMAs). The 21-week EMA, currently at approximately $86,500, is steadily declining, indicating lower price levels. This downward slope could create favorable conditions for Bitcoin to break out of its consolidation phase. Additionally, top leaders like Arthur Hayes believe that significant capital inflows from China could provide an additional catalyst for Bitcoin's price movement.

While Bitcoin's price shows signs of reversal, investors should remain vigilant of key on-chain metrics. Data from CryptoQuant reveals a significant increase in Bitcoin reserves on Binance, with an influx of 22,106 BTC recorded recently. This strong acceleration in BTC inflows to the exchange comes amid ongoing macro uncertainty and the upcoming announcement of the Consumer Price Index (CPI). The broader crypto market, including altcoins like Ethereum, has shown a sharp rebound following Trump’s decision to delay tariffs by 90 days, which resulted in a 10% upside in the Nasdaq index.