Bitcoin faces selling pressure amid US-China trade tensions, trading below key moving averages. Despite this, long-term holders have accumulated 297,000 BTC recently, indicating a potential bullish outlook. Analysts note maintaining above $84K is essential, with a $89K breakout possible, while declines below this support could lead to further corrections.
Bitcoin is currently in a critical phase, facing significant selling pressure as it trades below key moving averages. This situation reflects the broader market uncertainty, particularly influenced by escalating trade tensions between the United States and China, which are intensifying volatility across global financial markets and impacting risk assets such as Bitcoin.
However, amidst the bearish landscape, Bitcoin long-term holders (LTHs) are showing strong signs of confidence. Recent data from CryptoQuant reveals that these investors have accumulated an impressive 297,000 BTC over the last nine days, indicating that they perceive this price dip as an opportunity to invest for the long term, potentially paving the way for future price recoveries.
The market is observing closely whether Bitcoin can maintain its current price range and eventually overcome crucial resistance levels. A robust defence of key support levels could empower bulls, allowing a resurgence in momentum. Meanwhile, uncertainty is likely to influence market movements, as participants evaluate the overall economic outlook and Bitcoin’s potential function as a hedge in a turbulent financial environment.
Amid escalating global concerns, US-China trade relations under President Donald Trump continue to be unsettling for markets. Although a temporary pause in tariffs last week provided minimal relief, ongoing tensions are pressuring the global economic landscape. Investors remain cautious, focusing on secure investments while Bitcoin and the crypto market experience turbulence.
Top analyst Axel Adler has provided insights indicating the recent increase in LTH supply, suggesting more committed investors are capitalising on current price weaknesses. Historically, similar trends of accumulation by LTHs have led to significant price increases, hinting that these investors are setting themselves up for potential bullish movements once macroeconomic challenges begin to stabilise.
Currently priced at $84,300, Bitcoin is holding above important moving averages, indicating a potentially strong short-term trend. The key challenge for bulls is to defend the $84K level while attempting to break into the $89K resistance zone, which has been a hurdle for upward price movement in recent times.
Maintaining a position above $84K would support market confidence and bolster a bullish trend in lower timeframes. A successful breakout above $89K would signal a shift in the current consolidation, possibly triggering an ascent toward the $93K–$95K range as buying interest rekindles.
Conversely, failing to uphold the $84K support could exacerbate selling pressure, invalidating positive short-term signals and potentially leading toward a test of the psychological $80K threshold. A drop below this level might worsen the correction, particularly if macroeconomic factors worsen or overall risk appetite declines further.
In summary, Bitcoin is currently in a holding pattern, with the $84K level acting as a crucial battleground for immediate market direction. A rebound past $89K could signify the beginning of a recovery, whereas a failure to sustain above $84K could result in deeper declines in forthcoming sessions.
