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Bitcoin surged past its previous all-time highs this week, reaching $112,000 on Thursday after breaking through resistance on Wednesday. The move marked a historic moment for the market, solidifying bullish momentum and pushing BTC into a new price discovery phase. However, the excitement was short-lived. Following comments from US President Donald Trump, who threatened to impose a 50% tariff on European Union imports, global markets turned cautious, causing a broad risk-off sentiment that sent Bitcoin prices lower.
The sell-off came swiftly, pulling BTC back below local highs as investors reacted to rising geopolitical and economic uncertainty. While this retracement is not unusual after such a strong rally, it underscores the sensitivity of crypto markets to macro headlines.
Top analyst Big Cheds shared a technical perspective, noting that Bitcoin has now returned to the daily EMA 8. Holding this moving average could signal that bulls remain in control and that this pullback is simply part of a healthy consolidation.
Bitcoin Steady As Market Uncertainty Grows
Bitcoin continues to show resilience in the face of persistent macroeconomic uncertainty. As US Treasury yields remain elevated and volatility sweeps across global stock markets, BTC has managed to hold strong after recently pushing into new all-time highs. While many risk assets falter under these conditions, Bitcoin is proving its narrative as a macro hedge, attracting interest from institutional and retail investors alike.
However, despite its recent breakout to $112,000, the rally has not yet been confirmed as a sustainable bullish phase. Analysts widely agree that a clean break above $115,000 is essential to trigger the next leg of price discovery. Without that confirmation, the current move could be seen as an overextension, especially amid broader market instability.
Cheds shared a key technical insight this week, noting that Bitcoin is now back at the daily EMA 8 level—a moving average that has acted as reliable support since the $80K range. This suggests that the current pullback could be a healthy retest of trend support rather than the start of a deeper correction.
If BTC manages to bounce from this level, bullish momentum could resume quickly. But if the EMA 8 fails, downside risk may increase, especially if traditional markets continue to slide. For now, all eyes remain on how Bitcoin reacts at this technical crossroads.
BTC Retests Key Level As Uptrend Pauses
Bitcoin is currently retesting key technical levels following its sharp rally to a new all-time high near $112,000. As shown in the 4-hour chart, BTC has pulled back to the 34-period EMA (currently around $107,800), a level that has served as reliable dynamic support during this uptrend. The latest candle action shows buyers stepping in slightly above this area, suggesting it’s still holding.
Price is also hovering just above the 50-SMA at $106,273, reinforcing this zone as a confluence of support. Volume has picked up slightly on the pullback, which could indicate healthy profit-taking rather than panic selling if this level holds, a continuation toward the previous high, and potentially a push above $112K remains on the table.
However, if the support fails and BTC dips below $106K, eyes will shift toward the next major horizontal support at $103,600. A drop to this region would still be technically valid within the broader uptrend but could shake short-term bullish momentum.
Featured image from Dall-E, chart from TradingView
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.
To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian’s goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.
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 and decentralized finance. 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 reports, or engaging in thought-provoking discussions about the future of finance.
Sebastian’s journey as a crypto pioneer 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 contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.
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