Bitcoin’s price has recently surged above $83,000, reflecting significant market movements influenced by global economic developments.
After a 8.6% surge today, Bitcoin’s price reached $83,430, following President Trump’s announcement of a 90-day pause on reciprocal tariffs, which sparked a broad market rally – not just in crypto but the stock market as well.
This surge also positively impacted other cryptocurrencies and crypto-related stocks. Ethereum (ETH) rose to around $1,650, while Solana (SOL) and XRP experienced double-digit percentage gains. Companies with significant crypto holdings, such as MicroStrategy and Coinbase Global, saw their stock prices increase by nearly 25% and 17%, respectively.
Analysts suggest that Bitcoin’s resilience amid stock market volatility indicates its potential decoupling from traditional financial markets. Some view Bitcoin as a hedge against unstable government and financial systems. In the past 24 hours $236.23 million were liquidated from the Bitcoin market – $87.55 million in long positions and $148.68 million in shorts.
While the recent price surge has renewed optimism among investors, market analysts remain divided on Bitcoin’s future trajectory. Some predict a potential rise toward the $100,000 mark, while others advise caution due to ongoing economic uncertainties.
Despite the rebound, Bitcoin’s 1-day technical analysis from TradingView remains bearish with both the summary and moving averages pointing to “sell” with 10 and 9 signals, respectively.
Author
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
