Bitcoin price rises sharply on tariff relief hopes, triggering golden cross at $86.2K
Bitcoin gains on trade optimism
Bitcoin price had a strong start to the week, jumping 11% and reaching a six-week high of $94,690 on Wednesday. This rally came after U.S. President Donald Trump said the planned 145% tariffs on China would likely be much lower.
His softer message on trade boosted confidence in markets, including crypto, and helped push Bitcoin above the $91,000 level. That’s an important price because it matches what short-term Bitcoin holders paid on average.
The move up also caused a “golden cross” to appear on the daily chart at $86,200. That happens when the 20-day moving average moves above the 50-day moving average—something traders often see as a sign of strength.
BTC price dynamics (Dec 2024 - April 2025). Source: TradingView
But after hitting $94,690, Bitcoin started to slow down. The 4-hour Relative Strength Index (RSI), moved into overbought territory which means that the price may have climbed too quickly and a pullback was likely.
Traders watch $91K to determine if Bitcoin dip is pause or failed breakout
On Thursday, Bitcoin opened at $93,750 but started dropping during the Asian session. By the European session, it had fallen to around $92,100, a 1.71% drop for the day. It even broke below Wednesday’s low of $91,960.
Still, there’s hope that the pullback won’t turn into a full reversal. The 20-period moving average on the 4-hour chart is now sitting near $91,000, offering a possible support level. That’s also where the average cost for short-term holders sits, so many traders are watching it closely. If Bitcoin stays above $91,000, this dip might just be a healthy pause before another move up. But if it drops further, some analysts think the recent rally could have been a false signal.
Bitcoin broke above the $88,900 resistance and turned bullish after hitting $93,600, backed by strong ETF inflows. Cooling U.S.-China tariff tensions added to the upward momentum.
