The leading cryptocurrency, Bitcoin (BTC), has reached its bottom, according to the crypto analytics firm SWISSBLOCK.
In a recent analysis shared on the social media platform X, the firm highlighted that Bitcoin often requires a period of consolidation before its next upward move. “For consolidation to continue, Bitcoin may need to revisit the $80,000–$82,000 zone. Rejections at $86,000 have been consistent, and the range is tightening. A step back could be what fuels the next leg higher,” the firm stated.
SWISSBLOCK also noted that the trade war narrative has already been priced into the markets, with indices showing signs of reaching a bottom. “This weekend, tariff exemptions for tech hit: microchips to cellphones, a lifeline for Apple & Nvidia. ‘Green Monday’ hopes surged! But 24 hours later, Commerce Sec. LUTNICK says it’s temporary, pending a sector-specific tariff regime. The good cop/bad cop routine rattled markets, but by Monday, volatility was muted,” the analysis explained.
The firm further emphasized that markets are no longer reacting to former President TRUMP‘s rhetoric with the same intensity. “Volatility down, fear fading. The good cop/bad cop game signals a controlled retreat: trade war costs votes. Is this the start of a bottom for indices? Yes, it is. Bitcoin’s bottom is in, final consolidation phase has started. A step back doesn’t imply collapse, it opens opportunity,” SWISSBLOCK concluded.
At the time of writing, Bitcoin is trading at $85,101.
Source: SWISSBLOCK/X