Bitcoin (BTC) has regained short-term bullish momentum, trading between $82,000 and $90,000 as improved macro sentiment lifts investor confidence.
The U.S. decision to exempt key tech products from reciprocal tariffs has eased inflationary fears, triggering a risk-on rally across equities and crypto.
BTC’s break above its three-month downtrend at $84,900 marks a notable technical shift, with institutional flows further strengthening the outlook.
Exchange outflows and continued ETF accumulation suggest large-scale buyers are returning to the market, supporting a potential move toward the $85,000–$90,000 range.
However, with $85,000 acting as near-term resistance, profit-taking could spark a short-lived pullback, with $82,000 likely serving as a support floor.
Momentum indicators, including a forming MACD crossover and an RSI around 58, continue to lean positive but warrant caution near key technical levels.
Ethereum (ETH) is also benefiting from the broader risk-on environment, recovering 6% to trade near $1,650.
While ETH’s rebound could extend toward $1,800 or even test $2,000, its relative underperformance—down 65% from December highs compared to BTC’s 23% drawdown—underscores ongoing structural weakness.
Despite ETF outflows last week totaling $80 million, ETH remains range-bound, with resistance around $1,680 and support near $1,500.
The RSI hovering near 50 and a return to the $1,499–$1,800 Keltner Channel signal some technical stabilization.
Still, low trading volumes and a muted ETH/BTC ratio around 0.019 reflect caution among market participants.
Overall, ETH may continue to follow BTC’s lead, but upside potential remains constrained unless fresh catalysts emerge to reassert its narrative.
Ryan Lee, Chief Analyst at Bitget Research
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