Bitcoin hit $80,000 but faces uncertainty due to trade war headlines.
From Yahoo Finance: 2025-04-21 09:45:00
Bitcoin reached $80,000 before closing last week, but market uncertainty remains. Trade war headlines, especially between the US and China, could increase volatility. Tariffs have been driving market movement recently, with China’s response to ongoing trade tensions being closely watched by traders.
On the weekly chart, Bitcoin’s key support level is around $76,000–$78,000. Last week saw a strong bounce off this level, resulting in a positive weekly close. However, continuation is crucial for potential upside, as a strong reaction alone may not be enough for traders.
Zooming in on the daily chart, price initially found support at the range low before breaking below, retesting it, and moving lower. Observing how price behaves around the low 90Ks will be important, as past rejection at this level could impact future price action.
The daily structure remains semi-bearish, with no clear higher high yet. Holding above $76,000 could lead to a potential move back towards range lows. A higher low formation would confirm a trend shift and potentially push Bitcoin back towards all-time highs, depending on market reactions.