Bitcoin Surges 7% to $86,000 on US Trade Policy Shift

Bitcoin (BTC) reached an eleven-day high on April 13, closely following changes in US financial policy. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $86,000 for the first time since April 2. This surge was driven by news that US President Donald Trump had decided to exclude certain key products from his ongoing trade tariffs against China.

Traditional markets are closed on weekends, which creates lower-liquidity trading in crypto markets and raises the chance for price volatility. Bitcoin subsequently dropped under $84,000. With hours to go until the weekly close, BTC/USD was up 7% for the week, having started with a trip to new five-month lows.

Traders were cautious over BTC price strength. One trader noted, "Call me crazy but I don’t think I trust this breakout on $BTC. Low volume, overbought stoch, and on a weekend. If we can remain over 84k through Monday I’ll look for higher but for now this seems sketchy."

Daan Crypto Trades highlighted the ongoing interplay with the 200-day exponential moving average (EMA) at $85,000. "This is however still a weekend move so far and we know next week will be volatile again with news regarding tariffs and the first big tech earnings coming up," part of a post read.

Well-known trader Peter described the rebound from the lows as looking “more corrective than it does impulsive.” Popular trader and analyst Rekt Capital saw the true hurdle to a Bitcoin bull market rebound coming in the form of a stubborn long-term daily downtrend. "Bitcoin has Daily Closed above the Downtrend. Thus, breakout confirmation is underway. However BTC has previously Daily Closed above the Downtrend but failed its retest (a few of the red circles). Retest needs to be successful and it is in progress," one of his latest updates explained alongside an illustrative chart.

As reported, the daily downtrend, in place since late 2024, is earmarked as a key hurdle for bulls to overcome. Another post flagged promising signals on Bitcoin’s relative strength index (RSI) indicator. A classic leading indicator, RSI continued to print another bullish divergence with price on daily timeframes. "Bitcoin is developing yet another Higher Low on the RSI while forming Lower Lows on the price. Overall, throughout the cycle Bitcoin has formed Bullish Divergences like this on a few occasions already. Each Bull Div preceded reversals to the upside," Rekt Capital summarized.