During Wednesday’s U.S. market session, Bitcoin experienced a 7.5% intraday surge to reach $82,162 in trading value. The sudden surge in buying pressure follows a recent social media post by United States President Donald Trump, where he mentioned a 90-day suspension period for over 75 countries with a reduced reciprocal tariff of 10%.
The renewed recovery brought the BTC price close to a decisive breakout from multi-month resistance. Is a rally to $100,000 close?
Trump Slaps 125% Tariff on China, But Eases Tariff for 75+ Nations
April 9, 2025— In a fiery statement posted on Truth Social, U.S. President Donald Trump announced a sweeping escalation in the ongoing U.S.-China trade standoff, declaring an immediate increase in tariffs on Chinese goods to a staggering 125%.
The move came as Trump thinks that the actions of China show a lack of respect towards the global market. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A. and other countries are no longer sustainable or acceptable.” Trump posted.
While the tariff hike targets China specifically, Trump extended an olive branch to over 75 countries. According to his post, the United States will grant a 90-day pause in trade retaliation measures and introduce a reduced reciprocal tariff of 10%.
Following the post, the Bitcoin price rallied over 9% to currently trade at $83,075.
EMA Death Cross May Push Bitcoin for Fresh Breakout
With today’s price jump, the Bitcoin price is just 2% away from challenging the resistance trendline of a falling wedge pattern. Over the past three months, the pattern’s upper boundary has acted as dynamic resistance, which maintained the sell-the-bounce sentiment in the market.
Thus, the potential breakout will signal a change in market dynamics and bolster the price for a rally of $100,000.
In addition, Bitcoin’s 50-and-200-day EMA slope is poised for a death crossover if the broader market correction persists. Theoretically, this crossover should accelerate the prevailing bearish sentiment and drive a prolonged price correction.
However, the BTC price was on the verge of the same crossover in September 2024, but instead, the price picked up momentum and initiated a fresh recovery phase. Similarly, the daily chart showed a 50-and-200-day EMA death cross in September 2023, but the price rebounded.
Thus, the extreme fear after the EMA death crossover may offer a reversal opportunity for crypto buyers.
Also Read: Bitcoin’s 2016-2017 Reset: Is a Parabolic Surge Imminent?
