Bitcoin is trading near its 50-week simple moving average, a historically strong support level that has triggered major upside moves at least three times since 2023. Traders are watching whether bulls can defend this zone, as the asset tests a crucial make-or-break point in its long-term uptrend.
Macro conditions offer support. China has paused its 24% additional tariff on U.S. imports for one year, following high-level discussions between President Donald Trump and President Xi Jinping. The move, paired with Washington’s decision to cut fentanyl-related levies, signals easing trade tensions and increases investors’ appetite for risk.
The bullish outlook faces one counter-narrative: Sequans Communications sold part of its Bitcoin holdings to slash debt, marking a rare treasury reduction in a market long driven by corporate accumulation. While the company reaffirmed its conviction in Bitcoin, the sale sparked debate over whether tactical selling may emerge among other firms if macro pressures rise.
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