{"id":37459,"date":"2025-05-12T09:32:39","date_gmt":"2025-05-12T09:32:39","guid":{"rendered":"https:\/\/coincentral.com\/?p=37459"},"modified":"2025-05-12T09:32:39","modified_gmt":"2025-05-12T09:32:39","slug":"bitcoin-btc-price-new-highs-on-the-horizon-as-trade-deal-fuels-rally","status":"publish","type":"post","link":"https:\/\/coincentral.com\/bitcoin-btc-price-new-highs-on-the-horizon-as-trade-deal-fuels-rally\/","title":{"rendered":"Bitcoin (BTC) Price: New Highs On The Horizon As Trade Deal Fuels Rally"},"content":{"rendered":"<h2>TLDR<\/h2>\n<ul>\n<li>Bitcoin price surged above $102,000 and tested $105,000<\/li>\n<li>US-China trade deal reduced tariffs from 145% to 30% for 90 days<\/li>\n<li>BTC is nearing all-time high of $109,350<\/li>\n<li>Continuous inflows into spot ETFs for 20 straight trading days<\/li>\n<li>Upcoming CPI data could provide a bullish catalyst<\/li>\n<\/ul>\n<hr \/>\n<p>Bitcoin has been making impressive gains recently, breaking through key resistance levels and approaching its all-time high. The cryptocurrency is currently trading around $105,500, just 3.6% away from reaching a new record above $109,350.<\/p>\n<p>The recent price surge began when Bitcoin formed a base at the $96,500 support zone. It then cleared several resistance levels, including $98,800 and $102,000.<\/p>\n<p>Bitcoin reached a local high of $104,943 before entering a period of consolidation. The cryptocurrency is now trading above $103,500 and the 100-hour Simple Moving Average.<\/p>\n<p>Technical analysis shows a bullish trend line forming with support at $103,500 on the hourly chart. If Bitcoin breaks through the $104,500 and $105,000 resistance levels, it could potentially rise to $106,200 and eventually $108,000.<\/p>\n<p>The cryptocurrency market received a significant boost following a trade agreement between the United States and China. After two days of high-level negotiations in Geneva, both countries announced a temporary reduction in tariffs.<\/p>\n<figure id=\"attachment_37460\" aria-describedby=\"caption-attachment-37460\" style=\"width: 847px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-37460\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/btc-price-2.webp\" alt=\"Bitcoin Price on CoinGecko\" width=\"847\" height=\"629\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/btc-price-2.webp 847w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/btc-price-2-300x223.webp 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/btc-price-2-113x84.webp 113w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/btc-price-2-768x570.webp 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/btc-price-2-50x37.webp 50w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/btc-price-2-150x111.webp 150w, https:\/\/coincentral.com\/wp-content\/uploads\/2025\/05\/btc-price-2-450x334.webp 450w\" sizes=\"(max-width: 847px) 100vw, 847px\" \/><figcaption id=\"caption-attachment-37460\" class=\"wp-caption-text\"><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">Bitcoin Price on CoinGecko<\/a><\/figcaption><\/figure>\n<h2>US-China Trade Deal Impact<\/h2>\n<p><a href=\"https:\/\/coincentral.com\/u-s-china-trade-deal-tariff-reduction-agreement-reached-after-weekend-talks\/\">The United States cut tariffs on Chinese goods from 145% to 30% for a 90-day period.<\/a> China reciprocated by lowering tariffs on US goods from 125% to 10% over the same duration.<\/p>\n<p>This surprise announcement triggered Bitcoin&#8217;s surge past $105,000. The trade deal comes after weeks of escalating tensions that had threatened to increase global inflation.<\/p>\n<p>With trade tensions easing, investors are now focusing on the upcoming Consumer Price Index (CPI) data. The April CPI, due this Tuesday, is expected to show inflation easing to 2.3% year-on-year from March&#8217;s 2.4%.<\/p>\n<p>Market analysts believe a continued softening of CPI could raise Federal Reserve rate cut expectations, providing another bullish catalyst for Bitcoin.<\/p>\n<p>Even if the CPI comes in higher than expected, it might be dismissed as backward-looking, reflecting April&#8217;s tariffs rather than the recent de-escalation in trade tensions.<\/p>\n<p>The Federal Reserve recently kept its benchmark interest rate unchanged at 4.25% to 4.5%. However, Chairman Jerome Powell offered dovish hints, stating that &#8220;the underlying inflation picture is good&#8221; and calling the inflationary impact of tariffs short-lived.<\/p>\n<p>Bitcoin&#8217;s recent performance is also supported by continuous inflows into spot exchange-traded funds (ETFs). BlackRock&#8217;s spot Bitcoin ETF (IBIT) has registered net inflows for 20 straight trading days, accumulating over $5 billion in investor money.<\/p>\n<p>The broader cryptocurrency market has also performed well. Ethereum (ETH) rose 39% to $2,500 last week, while other major altcoins such as XRP, Dogecoin (DOGE), Cardano (ADA), and Solana (SOL) saw gains of 9.7%, 56%, 19%, and 20%, respectively.<\/p>\n<p>According to HTX Research, there are no signs of speculative frenzy yet, suggesting the rally could continue. Bitcoin options&#8217; implied volatility remains stable in the 50%-55% range, well below the extreme levels typically seen at market peaks.<\/p>\n<p>If Bitcoin fails to rise above the $104,500 resistance zone, it could face a downside correction. Immediate support is near $103,500, with major support at $102,800 and $100,500.<\/p>\n<p>As long as yields do not climb back above 4.8% and ETF inflows remain steady, Bitcoin is likely to consolidate in the $105,000-$115,000 range while awaiting the next breakout trigger.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TLDR Bitcoin price surged above $102,000 and tested $105,000 US-China trade deal reduced tariffs from 145% to 30% for 90 days BTC is nearing all-time high of $109,350 Continuous inflows into spot ETFs for 20 straight trading days Upcoming CPI data could provide a bullish catalyst Bitcoin has been making impressive gains recently, breaking through<\/p>\n","protected":false},"author":9001,"featured_media":35557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"iawp_total_views":45,"footnotes":""},"categories":[28150,28151],"tags":[],"class_list":{"0":"post-37459","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"category-bitcoin"},"wppr_data":{"cwp_meta_box_check":"No"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - 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