The Bitcoin Bottom is In, According to Swissblock
The latest analysis from the crypto analytics firm Swissblock suggests that the bottom for Bitcoin (BTC) is in. The firm notes that sometimes the top crypto asset just needs time to consolidate before making its next move.
According to Swissblock, Bitcoin may need to revisit the $80,000–$82,000 zone for consolidation to continue. Rejections at $86,000 have been consistent, leading to a tightening range. A step back to this zone could be the catalyst for the next leg higher in Bitcoin’s price.
Swissblock also points out that the trade war narrative is already priced into the markets, with indices starting to bottom out. The recent tariff exemptions for tech products, such as microchips and cellphones, initially boosted market sentiment. However, Commerce Secretary Lutnick’s announcement of temporary exemptions rattled markets before settling down.
Despite the volatility, markets seem to be less affected by Trump’s trade war tactics, signaling a controlled retreat. Swissblock believes that this could be the start of a bottoming process for indices, indicating a positive outlook for Bitcoin as well.
As of the time of writing, BTC is trading at $85,101.
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