Bitcoin (BTC) rose past $ 91,000 on Tuesday and climbed nearly 5% in the middle of renewed investor optimism and fresh hopes of a thaw in US-China merchant stresses, but headwinds persist that can hood further up, warned the analysis company Cryptoquant.
The largest crypto at market value hit $ 91,700 in the US afternoon, its strongest price since the beginning of March. Altcoins followed BTC higher, with Ethereums ether (ETH), 8% increased over the past 24 hours over $ 1,700 and Dogecoin (DOGE) and SUI’s original token (SUI), winning 8.6% and 11.7% respectively. Broad-market Crypto Benchmark Coindesk 20 index advanced 5.2%.
The markets were bent by comments by US Treasury Secretary Scott Bessent, who reportedly told investors at a JPMorgan event with a closed door that the tariff order with China was unsustainable. Bessent said that de-scaling would come “in the very near future” that characterized current conditions as a “Trade Embargo.” However, he warned that a more extensive agreement between the two nations could take even years.
Shares recovered from yesterday’s decline, with the S&P 500 and the technical-heavy Nasdaq that completed the session 2.5% and 2.7% higher. Gold meanwhile turned sharply from its record price of $ 3,500 during the day and was down by 1%.
“Since capital rotates to the safe harbor and inflation-hollowing assets, BTC and gold show to be the most important recipients of the USD risk emigration,” said analysts at Hedge Fund QCP Capital in a telegram broadcast.
They highlighted rejuvenating influx to spot US-listed BTC ETFs and the return of the so-called Coinbase Award Award, suggesting demand from US institutional investors. BTC ETF booked over $ 381 million Net Efforts Monday and added Thursday’s $ 107 million, according to Farside Investor’s data.
But not all signs point to a sustained breakout.
Despite the award, the on-chain data boats point to fragility below the surface, cryptoquant analysts said in a Tuesday report. Bitcoin’s apparent demand has fallen by 146,000 BTC over the past 30 days – an improvement from the sharp fall of March, but still negative. Cryptoquant’s demand Momentum Metric, which tracks new investor interest, has deteriorated further to its most bearish level since October 2024, the report noted.
The market’s liquidity remains soft, with the report using USDT’s growth in the market as a proxy for crypto liquidity. USDT grew $ 2.9 billion over the past two months, below its 30-day average. Historically, BTC rallies coincided with USDT growth over $ 5 billion and above -a threshold that has not yet been met.
Adding to caution is Bitcoin now facing a key resistance zone between $ 91,000 and $ 92,000 on about “Trader’s on -Chain realized price” metrically, a level that has often served as resistance in bearish ratio. Cryptoquant’s on-chain bull-score classified current market conditions like Bearish, suggesting that a break or withdrawal could follow if the mood is weakened.
