Bitcoin Reaches $67,000 Amid Tariff News
Bitcoin’s price surged to $67,000 during trading on Wall Street Wednesday, as traders largely ignored new tariff announcements from the U.S.
Key Points:
- Bitcoin is on a notable rebound, surpassing $67,000.
- The long-term trend line has reappeared, with particular attention on the weekly closing price.
- Analysis of gold indicates a divergence from Bitcoin is developing.
Looking Ahead: BTC Eyed for 200-Week Trend
Recent data showed a daily increase of 4.5% in Bitcoin’s price as the rally continues.
In a surprising turn, Bitcoin seems unaffected by U.S. Trade Representative Jamison Greer’s announcement regarding a potential increase in tariffs to 15%, expected soon.
“Currently, a 10% tariff is in place, but if needed, we’ll declare an increase to 15%,” he mentioned.
Typically, such tariff news sends shockwaves through the cryptocurrency market, but the reaction has been less intense recently.
Even with this slight easing of pressure, Bitcoin is approaching a crucial long-term level—the 200-week exponential moving average (EMA).
As noted by some analysts, a drop below this support level could indicate a bear market.
Trader and analyst Recto Capital emphasized that it’s crucial for Bitcoin’s closing next week to be above the 200-week EMA, currently at $68,330.
Another trader, Castillo Trading, is also looking at the weekly trends, suggesting a potential upside toward Bitcoin’s 2025 annual low of $74,500.
Bitcoins Shows Bullish Divergence Compared to Gold
Separately, with gold remaining over $5,000 an ounce, crypto trader and analyst Michael van de Poppe sees a bright side for Bitcoin investors.
“Interestingly, there’s a strong bullish divergence on the daily chart comparing Bitcoin to gold,” he stated, referring to the Relative Strength Index (RSI).
“It hasn’t been confirmed yet, but with Bitcoin showing strength recently, maybe we’re beginning to see a shift,” he added.
This potential turnaround in capital flows may alter the market perspective that has been prevalent since the start of the year.
Overall, the analysis suggests Bitcoin’s descent from its peak in October 2025 has affected its reputation as “digital gold.”
