Bitcoin price reclaims key EMAs with low volume amid U.S.-China trade talk optimism
Bitcoin price briefly hit a five-month high of $97,770 during early Wednesday Asian trading session, lifted by renewed risk appetite following news that U.S. and Chinese trade officials will resume negotiations this weekend in Switzerland.
The move triggered a short-term “risk-on” sentiment in global markets, lifting speculative assets including cryptocurrencies.
This optimism drove Bitcoin’s price up by 1.5% during the Asian session, extending Tuesday’s 2.2% gain. However, the surge was not supported by a corresponding growth in trading volume. The reduced volume raised doubts over the strength of the breakout, and by the time European markets opened, Bitcoin had reversed its earlier gains, sliding back toward $96,500.
Bitcoin at risk of false rally above key EMAs due to declining volume
Technically, Bitcoin reclaimed its position above the 4-hour 20 and 50 EMA zones, clustered near the $95,000 psychological level. The bullish RSI reading on the 4-hour chart confirms positive momentum in the short term, though the declining volume calls for restraint in positioning.
BTC price dynamics (April - May 2025). Source: TradingView
If price weakness continues, the confluence of moving averages near $95,000 could serve as immediate support. A firm hold above this area would keep the bullish structure intact, allowing for a potential retest of the $100,000 psychological mark. However, without a sustained pickup in volume, any upside move could stall prematurely.
For now, the market awaits further headlines from the anticipated U.S.-China talks, which could either reinforce or challenge the current risk appetite. The near-term outlook depends heavily on whether Bitcoin can maintain support above the $95,000 zone. This level now serves as a key pivot both technically and psychologically. A clean break below it would invalidate the short-term bullish setup and open the door for a deeper retracement. On the other hand, sustained consolidation above it, especially supported by higher volume, would keep the upside scenario intact, with $100,000 remaining a feasible near-term target.
Bitcoin hovered between $93,600 and $95,200 last week as traders hesitated on low volume. Technical indicators offered no clear trend, keeping the market range bound.
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