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Key Data Signals Confidence In Bitcoin – US-China Trade Deal Fuels Rally

Key Data Signals Confidence In Bitcoin – US-China Trade Deal Fuels Rally

Sebastian Villafuerte
by Sebastian Villafuerte
4 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is trading above the $104,000 level after posting its second-highest weekly close in history, reinforcing the strength of the current uptrend. The bullish momentum has been building steadily over the past few weeks, with price surging aggressively after reclaiming both the $90K and $100K psychological levels. This marks a significant shift in sentiment after months of consolidation and market hesitation.

Related Reading: Bitcoin Balance On Exchanges Shrinks – Supply Shock Ahead?

According to data from CryptoQuant, the Fear and Greed Index has started to rise significantly, reflecting growing optimism among Bitcoin investors. While sentiment is clearly leaning bullish, the index still remains well below the euphoric “overload” zone, suggesting there’s more room for upside before reaching overheated conditions.

This combination of strong price action and controlled sentiment could indicate a sustainable rally rather than a speculative blow-off. As Bitcoin holds above key resistance zones, analysts and investors are beginning to focus on the all-time high near $109K as the next major target. The recent move has also energized the broader crypto market, with altcoins gaining strength alongside Bitcoin. As momentum builds, the market appears poised to enter a new phase of expansion, fueled by renewed confidence and capital inflows.

Momentum Builds As Bitcoin Eyes $109K All-Time High

Bitcoin is entering a critical week as bulls set their sights on the $109,000 all-time high. After months of heavy selling pressure and widespread market doubt, the leading cryptocurrency has surged back into the spotlight, trading just below the $105,000 mark. This level now acts as immediate resistance and could become a major pivot in the coming sessions. If bulls manage to push through this barrier, a breakout into uncharted territory would be imminent. However, if selling pressure intensifies around this zone, Bitcoin could face a period of consolidation or retracement before making another attempt.

Market sentiment has notably improved, as highlighted by top analyst Axel Adler. According to Adler’s insights, the current average values of the Fear and Greed Index are climbing steadily, signaling a rise in investor confidence. Importantly, the index remains far from extreme greed territory, which suggests that optimism is building but not yet overheated — a constructive sign for a sustainable rally.

Bitcoin Fear & Greed Index | Source: Axel Adler on X
Bitcoin Fear & Greed Index | Source: Axel Adler on X

Further fueling the positive outlook are macro developments. Sunday’s negotiations between Washington and Beijing brought a sense of relief to global markets, contributing to the broader upswing. With geopolitical tensions easing and Bitcoin holding its ground near multi-month highs, the setup for another leg higher is taking shape.

Related Reading: Ethereum Prints Classic Wyckoff Accumulation – Bull Phase Incoming?

BTC Faces A Critical Test Near All-Time Highs

Bitcoin is trading above $104,000, following the second-highest weekly close in its history. After reclaiming the $90K level in late April, the price surged aggressively and now hovers just below the all-time high (ATH) zone. This weekly chart shows clear momentum, with BTC pushing through key resistance zones with high volume and conviction. However, price is now directly testing the same range that marked the top earlier this year—between $104K and $105.7K.

BTC testing weekly resistance | Source: BTCUSDT chart on TradingView
BTC testing weekly resistance | Source: BTCUSDT chart on TradingView

This zone is crucial. If bulls can push above this level and close the weekly candle near or above the current all-time high, it would likely confirm the long-term uptrend. Such a breakout would put BTC in price discovery, potentially triggering momentum-driven buying and institutional inflows. On the other hand, if Bitcoin stalls or retraces from here, it could signal a short-term exhaustion and possibly a correction toward the $100K–$103K support zone.

Related Reading: Ethereum Analyst Sets $12,000 Target – Fundamentals Signal A Bullish Phase

Volume trends and market sentiment remain favorable, especially with declining exchange balances and rising investor optimism. However, a confirmed weekly breakout above the ATH remains the ultimate confirmation for the next macro leg up. All eyes are now on whether BTC can make history with a new all-time high this week.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte

Sebastian Villafuerte

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

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