"Bitcoin Price Breaks $86K on US Tariff 'Liberation Day'"

Bitcoin Price Reaches New April Highs

Bitcoin (BTC) hit new April highs on April 2 as markets anticipated US "Liberation Day." Data from Cointelegraph Markets Pro and TradingView showed local highs of $86,444 on Bitstamp, marking the best performance for BTC/USD since March 28.

Volatility remained high as US President Donald Trump prepared to announce a new round of reciprocal trade tariffs. Despite US stocks trading slightly down, Bitcoin managed to recover, acting in a key area filled with long-term trend lines.

As reported by Cointelegraph, these trend lines include various simple (SMA) and exponential (EMA) moving averages, with the 200-day SMA currently acting as a key support line.

Bitcoin's Technical Indicators

Trader and analyst Rekt Capital pointed out the significance of the 21-week and 50-week EMAs in determining the price trend of Bitcoin. He mentioned that a breakout could be imminent as Bitcoin attempts to break out of an extended downtrend on daily timeframes.

Last month, Bitcoin's daily relative strength index (RSI) metric broke free from a downtrend that had been in place since November 2024.

Analysis and Market Predictions

Despite the positive price action, trading firm QCP Capital remained cautious, citing uncertainties following the tariff announcement. The firm suggested that risk assets would likely come under pressure in the near future.

On the other hand, asset management firm Swissblock remained more optimistic, stating that Bitcoin showed no signs of an imminent collapse. However, they warned of a potential return to $76,000 multimonth lows if a negative reaction occurs.

Conclusion

In conclusion, Bitcoin's price surged to new highs as markets awaited the US tariff announcement. While some analysts remain cautious due to market uncertainties, others are more optimistic about Bitcoin's future price potential. Investors should conduct their own research and analysis before making any investment decisions in the cryptocurrency market.

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.