Bitcoin price has resurged and making an attempt to reclaim the $80k level. The crypto market bellwether traded at $79,675 at the time of writing, up by 0.5% to stay on course to register successive daily gains amid a steep downtrend in financial markets.
An ongoing global trade tariff war has gone a notch higher after US President Donald Trump threatened to impose additional 50% tariff on China if it doesn’t retract its retaliatory 34% tariff on US goods. That has escalated the risk aversion in the markets, adding downward pressure on BTC and other digital assets.
Markets had earlier been bumped after several news outlets reported that Trump was considering pausing tariffs for 90 days. However, that has since turned out to be untrue, with the White House denying the rumours. Bitcoin’s 24-hour trading volume was up by 69% at the time of writing. That signals rising buying appetite, as it indicates buyers’ willingness to keep purchasing the coin despite the price rise.
Notably, Bitcoin has expanded its dominance in the crypto market, with its market cap contributing to 61% of the total crypto market capitalisation, up from 54% in December 2024. That underlines investors’ rising affinity to BTC relative to altcoins and meme coins.
Meanwhile, the momentum on Bitcoin price has strengthened on the shorter timeframe. The 4-hour chart has its Average Directional Index (ADX) at 29, signaling a strong upward trend. A continuation of the trend will raise the prospect of BTCUSD reclaiming $80k support.
Bitcoin Price Prediction
Bitcoin price pivots at $79,110 and action above that level will favour the buyers to be in control. The coin will likely meet primary resistance at $82,075. However, an extended control by the buyers will breach that barrier and take the action higher to test $84,600.
Alternatively, breaking below $79,110 will shift the momentum to the downside. The first resistance will likely be at $77,135. The upward momentum will be invalid if the price breaks below that level. Also, such momentum could extend the downward action to test $75,040.
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