- Bitcoin rose by 6% to $ 92,535 after President Trump had announced a one-month delay on auto rates for Canada and Mexico.
- For traders, these shifts emphasize the importance of staying tailored to economic developments.
Bitcoin’s [BTC] The prize has responded strongly to external factors, such as the policy shifts of President Trump.
After a steep dip to about $ 78k, Bitcoin recovered sharply and crossed the $ 90,000 after Trump the $ 90,000 announced The delay on car rates for Canada and Mexico.
This caused renewed optimism in the markets, especially among crypto traders. But this momentum suggests a clear path to a target with six digits?
Economic Overview: A Bitcoin Relief Rally
On March 5, President Trump announced a delay of one month on car rates for Canada and Mexico, which led to an increase of 6% in the price of BTC, which it brought to around $ 92,535.
This rebound followed a sharp fall of 15%last week, caused by rates for large US trading partners, including China.
The $ 80k support zone, tested during the previous dump, turned out to be crucial, while the $ 95k $ 100k resistance reach.
The dip in Open interest (OI), which drops to a low 5 -month low of $ 47.27 billion after a stay of more than $ 50 billion after the elections, indicates a considerably risky.
If OI continues to fall, the liquidity can intensify the sale of derivatives, which activates larger price movements.
Source: Coinglass
Historically preceding such aggressive position closures in advance of the market corrections, as seen during the 15% decrease of Bitcoin to $ 84k last week, which was accompanied by more than $ 8 billion in closed positions.
But with the bullish sentiment rebuilt after the tariff delay of Trump and the “long -awaited” crypto -top, can this reliever get enough momentum to activate a complete outbreak?
The market is at a crossroads
Although both the crypto and the stock markets have welcomed Trump’s rate retragation announcement – car sharing if Ford send more than 5% – the market remains at an intersection.
Although short -term lighting has fueled optimism, Trump’s threats from “reciprocal” rates for global trading partners keep the broader risk of a trade war in play.
From a technical perspective, Bitcoin responds strongly to these macro -economic shifts, with $ 85k – $ 90k as an important level of support.
Source: TradingView (BTC/USDT)
If the bullish sentiment around Trump’s “let’s make America affordable again” promise continues to build, Bitcoin can focus on the $ 95k $ 100k resistance zone.
Moreover, the recent positive ETF intake of $ 22 million is tough after a week sluicesuggests that institutional interest rates are recording again.
However, traders must remain alert. Although a retest of key resistance zones is increasingly likely in the short term, an outbreak in six -digit territory remains uncertain.
The wider economic landscape, including trade tensions, can challenge Bitcoin’s ability to penetrate these critical levels.
