Bitcoin analysts target $95K as Trump’s trade war cools — Do BTC futures agree?
Bitcoin (BTC) reached a 45-day high above $91,000 on April 22, coinciding with gold hitting an all-time high. Investors are concerned about a potential economic recession amid global trade tensions. The Bitcoin futures premium is currently at 6%, indicating a neutral market sentiment despite a recent price increase of $6,840. Skepticism exists among traders due to Bitcoin's previous inability to maintain levels above $90,000. Bitcoin is trading 16% below its all-time high, similar to the S&P 500's decline of 14.5%. Demand for short-term US Treasurys has increased, with yields dropping to 3.81%. The Bitcoin options market shows limited enthusiasm, with the 25% delta skew indicator at -2%, indicating no strong anticipation for a rally above $95,000. Many traders are awaiting developments in the US-China trade war before making further bullish bets.
