Bitcoin price hit 14-week highs on Monday, rising to $105,706. The coin registered gains in the last five successive weeks and the momentum indicators signal a likely continuation of the uptrend. According to CoinMarketCap data, $51.34 billion worth of BTC was transacted in the last 24 hours, with the trading volume up by 14% during that time frame.
The coin’s upsurge is supported by the calming of trade tariff jitters, with last week’s initiation of negotiations between the United States and China. The two nations had each imposed three-figure tariffs against each other, threatening the broader global economy. However, the world’s two largest economies announced on Monday that they had agreed to temporarily cut the trade tariffs.
For the next ninety days, US trade tariffs against Chinese goods will come down from 145% to 30%, while China’s tariffs against US will reduce from 125% to 10%. The news has injected an upbeat momentum in financial markets and dissipated risk aversion sentiment. That will likely see more capital directed towards high risk assets like cryptocurrencies, adding propulsion to Bitcoin price.
Meanwhile, institutional affinity to BTC remains strong, with Bitcoin spot ETF registering $610.8 million worth of net inflows recorded in the last three trading sessions. The recent passage of crypto reserve laws by US states of Arizona and New Hampshire last week has also raised the prospect of increased institutional adoption of the coin.
According to a recent report by Bitwise, institutional holding of Bitcoin rose from 665,618 at the end of Q1 2025 to 746,302 as of April 28, 2025. That trend will likely continue in the near and medium term, adding tailwinds to Bitcoin price.
Bitcoin Price Prediction
On the chart below, Bitcoin price pivots at $103,880 and the coin will likely meet the first barrier at $104,884. A stronger momentum will break above that level, clearing the path to test $103,880.
On the other hand, breaking below that level will shift the momentum to the downside. In that case, the BTCUSD pair will likely go lower to find the first support at $103,030. The upside narrative will be invalid if the pair breaks below that mark. Also, an extended control by the sellers could take BTC price lower to test $102,000.
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