Bitcoin (BTC) Enters a 'Breather' Phase, Testing the $95,000 Resistance Level

Recently, Bitcoin (BTC), which surged due to Trump's tariff relief remarks, has entered a 'breather' phase, and the market is showing complex

Recently, Bitcoin (BTC), which surged due to Trump's tariff relief remarks, has entered a 'breather' phase, and the market is showing complex movements in a sideways trend, requiring delicate responses in short-term trading.

If Bitcoin stably surpasses the $95,000 level, it is likely to continue its bullish trend, but if the $91,700 support level collapses, the risk of further decline may increase.

As of 22:32 on the 27th, Bitcoin is trading at 135,590,000 won on the Upbit KRW market, showing a 0.24% decrease from the previous day (based on the Binance USDT market, $93,863). At the same time, the Kimchi Premium is 0.35%.

US-China trade negotiations, temperature difference remains... "Tension continues despite tariff deferment"

Photo = Hankyung DB

Tension in the global stock and cryptocurrency markets continues as signals regarding US-China trade negotiations are mixed. US President Donald Trump reiterated his intention to reduce tariffs on China and highlighted the progress of negotiations, but China completely denied this.

According to CCTV and other media on the 26th, a spokesperson for the Chinese embassy in the US stated, "There has been no consultation or negotiation with the US on tariff issues." The Chinese Ministry of Foreign Affairs and the Ministry of Commerce also issued separate statements on the same day, stating, "No form of negotiations are being carried out with the US."

Previously, on the 23rd, President Trump stated, "We can lower the high tariffs imposed on Chinese imports," and "We will decide on the tariff rates we will choose within the next 2-3 weeks." When asked if he was directly negotiating with China, Trump replied, "Yes, every day."

Amid mixed signals from trade negotiations, the anxiety of US consumers is deepening. The University of Michigan's final April consumer sentiment index was 52.2, a slight increase from the preliminary figure (50.8) announced earlier this month. However, compared to March, it decreased by 8.4, clearly showing a decline in consumer confidence.

In particular, the expected inflation for the next year was recorded at 6.5%, reaching the highest level since 1981.

Concerns are growing that the US economy may fall into a recession with rising prices due to the impact of the Trump administration's tariff policy, and Wall Street is keenly aware of changes in consumer sentiment indicators.

Photo = Chicago Mercantile Exchange (CME) FedWatch capture

According to the Chicago Mercantile Exchange (CME) FedWatch as of 18:00 on the day, the market is reflecting a 39.8% chance of the US Federal Reserve (Fed) holding the base rate at its May meeting. The first rate cut is expected in June, with a 57.2% probability of being implemented.

"Bitcoin rebounds on Trump's tariff deferment... ETF inflows and big hands strengthening accumulation"

Bitcoin spot ETF inflows listed in the US / Photo = Farside Investment

A total of $3,0629 billion (approximately 4,4069 trillion won) was net flowed into the Bitcoin spot exchange-traded fund (ETF) during the week (21st-25th).

This is due to the significant improvement in risk asset preference as US President Donald Trump expressed his intention to reduce tariffs on China. Additionally, the US Federal Reserve's withdrawal of existing guidelines requiring prior approval for banks' cryptocurrency-related activities also supported the upward trend.

Signs of improved supply and demand are being detected within the market. Cryptocurrency service provider Matrixport diagnosed, "Market participants have expectations that President Trump's tariff policy will not lead to a global economic recession."

They added, "As the market sentiment changes, Bitcoin open interest and speculative trading activities are increasing, and recently Bitcoin is proving its status as a hedge against dollar investment exposure. It is only a matter of time before it surpasses the $95,000 stop-loss level for major short positions."

Global cryptocurrency exchange Bitfinex also evaluated in its weekly report, "Bitcoin is showing clear resilience even amid the most turbulent macroeconomic uncertainties in years." The report added, "Bitcoin is strengthening its position as a store of value along with gold, rebounding more than 16% from its low, recording superior performance compared to traditional risk assets."

During the same period, the volatility index (VIX), known as the 'fear index,' surpassed 40 for the first time in five years, and US stocks and bonds faced extreme volatility.

In the spot market, buying pressure has flowed in, raising Bitcoin prices, but in the futures market, short (short selling) positions have increased, building tension. / Photo =