Bitcoin at $100K? Will Trump’s Trade Deal Push it Over the Edge or Break the Internet?

by

What to know:

  • Bitcoin is edging closer to the $100,000 mark, thanks to rumors of a major U.S.-U.K. trade deal.
  • The Wall Street Journal suggests that the big announcement could actually be just a “framework” for a deal (which is code for ‘don’t hold your breath’).
  • Indicators like the Coinbase premium and RSI divergence are signaling that Bitcoin might be a bit of a diva and resist moving upwards.
  • Onchain analysis says the magic number for resistance is $99,900 (because $100,000 is apparently too mainstream).

Bitcoin (BTC) is charging towards the $100,000 mark, all thanks to U.S. President Donald Trump teasing some sort of major trade deal, which might just involve the U.K. (because, of course, why not add a sprinkle of international drama?).

The price surge fits perfectly with Bitcoin’s bullish vibes and the general euphoria in traditional markets. And just to prove it’s not all hype, Asian stocks are on the up, and S&P 500 futures are showing a promising 0.6% gain. But don’t pop the champagne just yet, folks. Not everything is as smooth as Bitcoin’s rise to fame.

WSJ Dumps Ice Water on the Hype

According to the Wall Street Journal, Trump’s “big trade deal” might turn out to be nothing more than a “framework with tariff adjustments.” In layman’s terms, this means we could be looking at months of endless discussions and “will they, won’t they” trade negotiations before any actual deal happens. And surprise, surprise, Bitcoin’s price might lose its swagger once everyone realizes that the hype was a bit premature.

Resistance at $99.9K

Now, let’s talk about that sweet $99,900 mark. Remember, this isn’t some magical number that will send Bitcoin straight to the moon. Oh no. It’s more like a big, shiny roadblock thanks to early Bitcoin buyers looking to cash out and long-term holders who are getting a little itchy with all these gains.

Coinbase Premium—A Glimpse into the Minds of U.S. Investors

The Coinbase premium is basically a crystal ball that shows us how much U.S.-based investors are willing to pay for Bitcoin, and let’s just say it’s not looking great right now. In the past, the Coinbase premium has been a reliable indicator of bullish BTC runs. But since late April? Not so much. The seven-day moving average has been sending all sorts of bear-ish signals. Someone call a cryptographer.

Bearish RSI Divergence—The Plot Twist You Didn’t See Coming

Just when you thought it couldn’t get any more dramatic, Bitcoin sets a new multi-week high during the Asian session. But wait—there’s more! The relative strength index (RSI), which tracks Bitcoin’s momentum like a gossiping neighbor, didn’t follow suit. This, my friends, is called a “bearish divergence,” which basically means the momentum might be running out of steam faster than a caffeine addict on a Monday morning.

Read More

2025-05-08 10:35