Bitcoin hits 7-week high as ETF inflows rise amid tariff tension cool-off
The rally flipped the market structure from bearish to bullish
Bitcoin extended its bullish breakout this week, posting its strongest daily gain for April on Tuesday with a 6.7% jump that pushed the price to a 7-week high of $93,600. The rally flipped the market structure from bearish to bullish after the price decisively broke through the double top resistance at $88,900, a level now reinforced by the 20-period EMA on the 4-hour chart.
This technical breakout coincided with a noticeable shift in market sentiment. Increasing flows into spot Bitcoin ETFs also suggested growing institutional appetite.
Macro news added fuel to the rally as U.S. President Donald Trump adopted a softer tone on China trade tensions, stating that tariffs will be “substantially” reduced. That remark improved risk appetite across markets, with analysts highlighting the crypto sector’s positive reaction. The optimism surrounding trade policy has played into Bitcoin’s rally narrative, as traders positioned for potential upside in alternative assets.
Bitcoin RSI enters oversold territory, raising short-term retracement risks
Currently trading near $93,500 as of Wednesday, Bitcoin is brushing against fresh weekly highs. From a broader perspective, this surge has erased April’s earlier losses, when the price dropped to $74,500. Year-to-date gains now sit narrowly positive at +0.4%, but any further upside today would push Bitcoin into positive territory for 2025.
BTC price dynamics (Dec 2024 - April 2025). Source: TradingView
Technically, the 4-hour RSI has entered bullish territory, typically a signal of strength but also one that opens the door for short-term retracements. Should that occur, the former resistance at $88,900 is expected to serve as strong support. The price structure suggests this level has now flipped in favour of the bulls, giving Bitcoin a base to consolidate or extend further.
The near-term outlook hinges on whether the price can clear Tuesday’s high of $93,600. A sustained break above this level increases the probability of a push toward the psychological $100,000 mark, especially as institutional flows and macro headlines continue to align in Bitcoin’s favour.
Bitcoin retested the $88,900 resistance for the third time, forming a clear triple-top pattern. The move followed increased demand for safe-haven assets.
