Bitcoin Price Surge Amid Geopolitical Developments
Bitcoin’s price has surged again in the past 24 hours, reaching $86,000 for the first time since early April. The rally comes after days of intense volatility and is tied to recent geopolitical developments involving the United States and China.
At the time of publication, the Bitcoin price Today was quoted at $84,314.12 on 13/04/2025, up 0.7%.
On Monday, BTC saw a significant drop from $84,000 to a five-month low below $75,000. The recovery was partial at the start of the week but gained momentum after former President Donald Trump announced that he would suspend trade tariffs on all countries except China.
As a result, the largest cryptocurrency on the market began to recover ground, closing Wednesday at around $83,300. On Thursday, in the face of a brief retaliatory move by China, BTC fell again, falling below $79,000. However, in the following days, the asset resumed its upward trajectory.
On Friday, Bitcoin hit $86,000, its highest level in 11 days. Although the price has since fallen back slightly to the $84,000 range, the asset remains at a market cap of over $1.68 trillion, maintaining a dominance of over 60% over other cryptocurrencies.
Altcoins also followed suit, with XRP and Solana (SOL) recording the biggest gains among the major market caps. The short-term performance of these coins has been driven by expectations of new regulatory advances and greater institutional adoption.
Bitcoin’s price recovery suggests a potential return of risk appetite among investors, especially as trade tensions ease. Despite recent volatility, BTC remains a strong presence in institutional portfolios and is being closely watched by those monitoring the macroeconomic effects on the cryptocurrency sector.
Bitcoin Breaks Falling Wedge Pattern, Could Target $102K, Says Trader
Trader Merlijn shared an optimistic analysis on Bitcoin (BTC) on his X profile (formerly Twitter), highlighting the occurrence of two relevant technical signals: the breakout of a falling wedge pattern and a bullish divergence on the chart. According to him, these elements could signal the beginning of a strong upward trend.
According to Merlijn, BTC price has broken out of the upper part of the falling wedge pattern, a move that usually heralds trend reversals. “$BTC broke out of the falling wedge. Retest on the way. Momentum is building,” the analyst wrote. He complements the forecast with a possible ambitious target: $102,000.
The falling wedge is a chart pattern that tends to indicate exhaustion of selling pressure. When it breaks upwards, as seen in the chart analyzed, it suggests that buyers are regaining control, which could result in an acceleration in prices.
BITCOIN BREAKOUT + BULLISH DIVERGENCE = EXPLOSION?
$BTC broke out of the falling wedge. RETEST incoming. Momentum building. Target: $102,000. This is how trends begin. BUCKLE UP.
pic.twitter.com/NG9RYEm1qP — Merlijn The Trader (@MerlijnTrader) April 13, 2025
The bullish divergence mentioned by Merlijn reinforces this scenario. This type of divergence occurs when the price of an asset forms lower lows, while indicators such as the RSI (Relative Strength Index) form higher lows. This mismatch between price and momentum signals a possible positive reversal in the short term.
Even with the macroeconomic context still putting pressure on the market – especially after the recent BTC correction influenced by trade tensions and mass liquidations – technical analysis raises the possibility of a new rally.
“Breaking patterns like this is the starting point for strong trends. Buckle up,” Merlijn concluded.
Although the target of $102,000 is considered bold by part of the market, the technical structure presented offers arguments for at least an attempt to retest important resistances over the next few weeks.