Bitcoin Price Analysis: BTC Rises As Markets Look To End Week In The Green

Bitcoin (BTC) continued its upward trajectory as it looks to establish itself above the crucial $85,000 level. The flagship cryptocurrency went past $85,000 early on but lost momentum after reaching a high of $85,778 and registered a marginal decline to its current level. 

BTC is up over 1.31% over the past 24 hours after enduring a rollercoaster week that saw the price plunge below $80,000 to a low of $74,393. 

Trump Exempts Tech Items From Reciprocal Tariffs 

In a relief for the markets, President Donald Trump has exempted computers, smartphones, and other tech items from reciprocal tariffs, cushioning the industry and consumers and benefiting industry giants like Apple Inc. and Samsung Electronics Co. The move also dials down the escalating trade war with China. The exclusions were published by the US Customs and Border Protection office, excluding hard drives, laptops, computer processors, memory chips, smartphones, and other tech products from reciprocal tariffs rolled out a week ago. 

The exemption narrows the scope of the levies by excluding several products from the 125% China tariff and the baseline 10% global tariff imposed on almost all trading partners, benefiting companies like Apple, Dell, and Nvidia. 

Prominent Scottish Boarding School To Accept Bitcoin 

Lomond School, a prominent Scottish boarding school, has announced it will begin accepting Bitcoin (BTC) for tuition payments up to $49,711 (£38,000) annually. The school will begin accepting payments starting autumn and claims to be the first private school in the United Kingdom to do so. Once a payment is completed, the school plans to convert the BTC into British Pounds to manage currency risk. According to school authorities, the decision was made due to parent requests and aligns with the school's ethos of independent thinking and innovation. 

The school also emphasized the security and legality of the transactions, adding that it will only accept BTC and no other currencies. It also acknowledged Bitcoin’s extreme volatility. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) has seen a marginal decline during the current session, as it struggles to claim $85,000. The flagship cryptocurrency had moved past this level on Saturday but lost momentum after reaching a high of $86,030 thanks to selling pressure around the 50-day SMA. BTC has shown significant resilience in recovering and reclaiming $80,000 after plunging to a low of $74,393 earlier in the week. Bulls did not cede much ground despite selling pressure with BTC resuming an upward trajectory after Wednesday’s substantial increase. The recovery comes after Data from CryptoQuant suggested that Bitcoin whales and large institutional holders are loading up on the asset again. According to on-chain data shared by CryptoQuant analyst Burak Kesmeci, wallets associated with long-term investors received 48,575 BTC, the largest inflow since February 2022. 

“Massive $3.6 Billion Bitcoin Inflow to Accumulation Addresses! Bitcoin accumulation addresses received 48,575 BTC — the largest single-day inflow since February 1, 2022. When accumulation addresses move this aggressively, it’s worth paying attention.”

While BTC rebounded over the weekend, one analyst believes it is enjoying a temporary relief, identifying a pattern that could influence its price trajectory over the next few weeks. Analyst Ali Martinez believes BTC’s recent resurgence could be a precursor to another price correction towards $74,000. Martinez has based the prediction on a “double top” pattern on BTC’s hourly chart. The double-top pattern is a rare phenomenon and indicates investors are looking to book profits during an extended bearish phase, indicating trader exhaustion and a bearish reversal. 

BTC started the previous weekend in the red, registering a marginal decline on Saturday. 

Bearish sentiment intensified on Sunday as markets crashed. As a result, the flagship cryptocurrency dropped over 6%, going below $80,000 and settling at $78,301. The price faced volatility on Monday thanks to uncertainty fueled by rumors of a tariff pause, with BTC falling to a low of $74,393 before surging to a high of $86,190. The flagship cryptocurrency ultimately settled at $79,164, registering an increase of 1.10%. Sellers returned to the market on Tuesday as BTC fell almost 4% and settled at $76,283.

Source: TradingView

BTC rallied on Wednesday as President Trump announced a 90-day pause on tariffs, surging over 8% to reclaim $80,000 and settle at $82,593. However, the rally lost momentum on Thursday, with the price dropping 3.63%, slipping below $80,000 and settling at $79,592. Bullish sentiment returned on Friday as BTC reclaimed $80,000 and settled at $83,370 after an increase of almost 5%. Buyers retained control on Saturday as BTC climbed above the 20 and 50-day SMAs, moving past $85,000 and settling at $85,378. The current session sees BTC marginally down, slipping below $85,000 and trading at $84,861.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice