Bitcoin Eyes Breakout Above $103K as US-China Truce and SEC Plans Steady Markets

By: fxleaders|2025/05/13 18:45:04

Bitcoin ( BTC /USD) is trading at $103,429 after dipping from last week’s $105,000 high. The 1.9% drop was due to profit-taking after $100,000 and ahead of today’s US inflation data. Recent buying was driven by easing US-China trade tensions but investors are now cautious with macro data to guide the next move. This volatility shows how Bitcoin is still very reactive to global risk sentiment even at all-time highs. US-China Tariff Pause Gives Short-Term Boost Markets were lifted by a 90-day tariff truce between US and China. The deal includes: This temporary de-escalation has given a small lift to equities and crypto but overall sentiment is still risk-sensitive. Regulatory Progress Boosts Crypto Confidence In other news, SEC Chair Jay Clayton proposed a new regulatory framework for digital tokens—giving clarity on token classifications, exemptions and issuance. This is a step forward for institutional adoption. Meanwhile, American Bitcoin, a mining firm tied to Eric Trump and Donald Trump Jr., announced a Nasdaq listing through a merger with Gryphon Digital. Hong Kong’s Animoca Brands also confirmed plans for a US IPO, showing global interest in crypto-linked stocks. Technical Analysis: BTC Bulls Eye $103.4K Breakout Bitcoin BTC/USD has bounced strongly from the $101,940 support which is the 38.2% Fibonacci retracement and an ascending trendline. Price is now testing the 23.6% Fib resistance at $103,394. A confirmed breakout could target: The 50-period EMA at $102,697 is supporting the bullish structure. Watch for MACD crossover or volume spike to confirm.

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