Bitcoin Eyes ‘Spoofy’ $90K Resistance Amid Fresh BTC Price Surge
Bitcoin (BTC) surged past $88,000 following the Wall Street open on March 25, as markets reacted positively to easing concerns over upcoming U.S. trade tariffs.
BTC Price Gains Amid Optimism on Tariff Easing
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding steady above $88,000, closely tracking the daily open. The positive momentum coincided with modest gains in U.S. equities, driven by optimism around potential tariff exemptions hinted at by President Donald Trump.
Trading firm QCP Capital noted:
“Risk assets staged one of their strongest sessions of the year, helped by a temporary easing of fears around the April 2nd tariff deadline. Trump signalled twice on Monday that trading partners might secure exemptions or reductions, offering a reprieve that helped soothe market jitters.”
Historically, April has been a strong month for Bitcoin and equities alike. According to QCP Capital, the S&P 500 has averaged annualized returns of 19.6% in Q2, while Bitcoin has also shown strong median performance during this period.
Bitcoin Faces Major Resistance at $90K
Traders are closely watching the $90,000 resistance level, where significant sell-side liquidity has been identified. This resistance is partly attributed to market manipulation by a high-volume trader known as “Spoofy the Whale.”
Popular trader Daan Crypto Trades highlighted the importance of this level:
“$BTC is still trading at a solid spot premium during this bounce. If it can maintain that while slowly making its way back into the previous range ($90K+), I’d be confident we’re due for a move back to new highs. For now, it still remains a big resistance and price has been correlated to equities.”
Keith Alan, co-founder of Material Indicators, emphasized the significance of reclaiming the yearly open just above $93,000. Failure to do so could risk a return to recent lows.
Quick Summary and Key Points
- Bitcoin price surpasses $88,000 amid easing U.S. tariff concerns.
- April historically strong for BTC and equities.
- $90,000 resistance level closely watched due to significant sell-side liquidity.
- “Spoofy the Whale” identified as key player influencing resistance.
- Yearly open at $93,000 critical for sustained bullish momentum.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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