Bitcoin (BTC) increased to a 45-day level above $ 91,000 on April 22, and the upward movement coincided with gold achievement of the modern highest all time. Price increases reflect investors’ concerns about potential economic recession among the ongoing global trade tensions.

The tides change, but do the data support the price of Bitcoins above USD 95,000?

On neutral markets, the bitcoin bonus usually ranges from 5% to 10% to compensate for the longer accounting period. Currently, the annual bonus is 6%, which is not considered particularly stubborn, despite the fact that BTC appreciated USD 6,840 between April 20 and April 22. Some analysts interpret this as a sign that Bitcoin begins to separate from the stock exchange.

PTSD traders may appear around the BTC zone $ 90,000

Part of this skepticism among traders results from repeated Bitcoin’s inability to maintain levels above USD 90,000 at the beginning of March. For example, Bitcoin tested the 95,000 USD mark on March 3, only to fall to USD 81 464 the next day. This inconsistent performance from the top 109 346 USD on January 20 contributed to the lack of conviction among stubborn investors, especially since gold still set modern highest levels in the same period.

Currently, Bitcoin trads 16% below its highest time, which is closely reflecting S&P 500 by 14.5%. This suggests that the recent era of excessive risk may be behind us. In particular, even at the lowest point below 75,000 USD, 32% Bitcoin withdrawals were less grave than those experienced by NVIDIA (NVDA), Amazon (Amzn), Facebook (Meta) and Tesla (TSLA).

Comments of the Secretary of the US Treasury Scott Bessent on April 22 contributed to the alleviating of investors’ fears. According to Bloomberg, Bessent described the ongoing diligence with China as “unbalanced”, which suggests an increased probability of de -escalation. On the other hand, US President Donald Trump started to social media to claim that the chairman of the US Federal Reserve Jerome Powell hinders economic growth without reducing interest rates.

Bitcoin profits contrast with the transition of investors to government bonds

Regardless of where the fault lies behind the suppressed economic growth in the United States, the demand for short-term American treasurer increased, as evidenced by the profitability from a 2-year note, which dropped to 3.81% from 4.04% a month earlier. Basically, investors accept lower phrases in exchange for perceived security of government bonds. As part of this background, price increases by 6.3% Bitcoin in the last 30 days stands out as particularly noteworthy.

To determine whether these last profits have influenced the mood of professional traders, it is significant to examine the markets of BTC options. If traders expect correction, PUT (SELL) options tend to trade with a bonus, which means that 25% of the sketch delta will enhance above 6%. And vice versa, the stubborn sentiment pushes the indicator below -6%.

Currently, the Bitcoin option market reflects circumscribed enthusiasm after the last rape to USD 91,000, with 25% SKW Delta indicator is -2%, which remains within neutral. According to this measure, the last period of stubborn moods took place on January 30, when Bitcoin traded nearly USD 105,000. Therefore, there is no clear evidence that gigantic investors or market manufacturers expect a lasting rally above USD 95,000.

Related: Institutional demand can be moved by BTC within USD 200,000 in 2025 – Analysts

Despite some destitute macroeconomic data, market participants expect a relatively powerful season of earnings in the first quarter. Factet reports that “wonderful 7” companies are to achieve profits Height 14.8% in the first quarter compared to the previous year.

While Bitcoin still has a reasonable chance to re-review USD 95,000 or higher, many traders seem to wait for further achievements in the US-China trading war before putting additional stubborn plants.

This article is used for general information purposes and should not be and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are themselves and do not necessarily reflect or represent the views and opinions of Cointelegraph.