Key Takeaways:
*Bitcoin breaks $100,000: BTC/USD rallies sharply, driven by improved global risk sentiment.
*Momentum supported by trade optimism: Easing U.S. trade tensions with the UK and positive signals ahead of China talks lift investor appetite for risk assets.
Market Summary:
Bitcoin surged past the key psychological threshold of $100,000 on Thursday, buoyed by a sharp improvement in global risk sentiment following signs of progress in trade negotiations between major economies.
The risk-on shift came after U.S. President Donald Trump announced a bilateral trade agreement with the United Kingdom and hinted at the potential rollback of tariffs on Chinese goods, contingent on the outcome of upcoming trade talks. Trump described the UK deal as a “historic” breakthrough and suggested that negotiations with China, scheduled to resume in Switzerland this weekend, could yield positive results.
The developments helped lift broader market sentiment, prompting investors to rotate into riskier assets, including cryptocurrencies.
BTC/USD eyes further upside after technical breakout
Bitcoin (BTC/USD) rallied sharply, breaking above the key psychological and technical barrier of $100,000. On the four-hour chart, the pair is testing the 50% Fibonacci expansion level at 103,815. Momentum indicators are aligned with the bullish move, with the MACD showing growing upward strength.
A confirmed breakout above 103,815 could open the door to further gains toward the 61.8% Fibonacci level at 110,385. However, failure to sustain the breakout may lead to short-term consolidation around the moving average line.
Resistance level: 1038185.00, 110385.00
Support level: 97245.00, 89110.00
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