Bitcoin price soars to $83.5K — Have pro BTC traders turned bullish?

BTC traders remain cautious while hoping that the turnaround in US stocks will boost crypto investors’ optimism.

US equities and crypto markets shifted dramatically on April 9 after  US President Donald Trump announced a 90-day pause on his reciprocal tariffs, except for China. Bitcoin (BTC) price responded by surging by 5% in less than an hour, reclaiming the $83,000 level which was last seen on April 6.

While the S&P 500 gained 8%, Bitcoin derivative metrics have yet to turn bullish as traders remain cautious about changes in US long-term government bonds.

Bitcoin 2-month futures annualized premium. Source: Laevitas.ch

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