Bitcoin (BTC) Has Risen Above $85,000, Signaling That the Bulls Are Trying to Form a Higher Low

Bitcoin (BTC) has risen above $85,000, signaling that the bulls are trying to form a higher low at $83,000. The short-term price action

Bitcoin (BTC) price is hovering above the 20-day exponential moving average (EMA) at $83,289, indicating that the sellers might be losing their grip.

If the buyers manage to propel BTC/USDT above the 200-day SMA at $87,660, the cryptocurrency could jump to $95,000 and eventually to the crucial level at $100,000.

On the other hand, if the price breaks and closes below the 20-day EMA, it signals that the bulls have given up. That could pull the pair down to $78,500 and later to $73,777.

The flattish 20-day EMA and the relative strength index (RSI) suggest that the sellers are losing their grip.

Bitcoin is also being affected by news related to the US tariffs and the ongoing trade war with China.

While macroeconomic uncertainty persists, gold has emerged as a clear winner.

According to data from Bank of America (BoA) via The Kobeissi Letter, gold funds are set to achieve a massive $80 billion in net inflows year-to-date. This figure is staggering, especially when compared to the $40 billion seen in 2020.

In contrast, the net inflows for spot Bitcoin exchange-traded funds have dwindled to just $165 million after several weeks of continuous outflows, as per CoinShares data.

However, some cryptocurrency investors are keeping an eye on a popular theory that Bitcoin tends to copy and surpass gold's market movements with a lag of a few months.

As Titan of Crypto points out, this theory could lead to interesting implications for Bitcoin's price in July-August 2025, potentially reaching $137,000.