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Bitcoin Shows Resilience Amid Tariff Tensions, Eyes Next Major Breakout
Despite recent macro uncertainty and geopolitical risks, Bitcoin (BTC) has demonstrated remarkable resilience in the face of adversity. This strength is particularly noteworthy given the current market dynamics, which have seen a net outflow of $127 million from Bitcoin spot exchange-traded funds (ETFs). However, despite this setback, on-chain data suggests that long-term holders remain confident, and DeFi engagement across EVM chains continues to rise.
According to chart analysis by popular Twitter handle Ali, the current price action is not indicating a downward adjustment but rather a prolonged healthy breather. This interpretation is supported by Bitcoin’s ability to maintain its strength despite external pressures. The cryptocurrency has been steadily moving closer to key resistance levels, which could trigger a major upswing if successfully breached.
The chart analysis suggests that the $69,500 zone will be crucial in determining whether the ongoing consolidation is a healthy pause or the beginning of a more significant downward correction. As long as support holds, Bitcoin remains poised to reclaim previous highs and potentially surge even higher.
Furthermore, the Mayer Multiple, which is used to gauge the ratio of price changes to 200-day moving average deviations, suggests that a zone around $69,500 could provide strong support for the asset. If this level can hold, the path toward the $100,000 psychological barrier becomes increasingly likely.
However, Bitcoin will need to overcome the immediate resistance at $94,500 and other crucial price points before it can fully take off. In the absence of a significant pullback or major correction, any further consolidation could be viewed as a healthy buildup in anticipation of the next major breakout.
Disclaimer: This article is not an investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Source: https://nulltx.com/bitcoin-shows-resilience-amid-tariff-tensions-eyes-next-major-breakout/
