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Bitcoin’s (BTC) price briefly hit $120,000, with daily trading volume surging past $77 billion. The BTC price rise happened after more than $920 million in Bitcoin was withdrawn from Kraken and sent to unknown wallets in under one hour today. There is a strong accumulation patterns based on the transfers alongside more purchases by ETFs.
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Bitcoin price rallied 10% as Trump hinted at a tariff rollback, boosting risk appetite. However, market uncertainty persists, as analyst spots patterns similar to 2019’s US trade war impact.
Bitcoin (BTC) volatility persisted on Wednesday as traders reacted to fresh developments in U.S. trade policy.
Since President Donald Trump announced the creation of a Crypto Strategic Reserve on Sunday, March 2, BTC has traded within 10% ranges for three consecutive days.
After surging 11% following the strategic reserve announcement, Bitcoin’s rally was abruptly halted when Trump confirmed a 25% import tariff on Canada and Mexico, triggering a sharp 15% sell-off on Monday. However, the market took another dramatic turn on Wednesday.
Late Tuesday, U.S. Secretary of Commerce Howard Lutnick stated that President Trump will “probably” reach a compromise with Canada and Mexico in the coming days. Traders responded swiftly, piling into buy orders on optimism that an anticipated tariff rollback could ease economic uncertainty, bolstering risk assets like Bitcoin.
Within 12 hours of Lutnick’s statement, BTC surged 10%, rallying from its weekly low of $81,400 recorded on Tuesday to reclaim levels above $91,500 by mid-day in U.S. trading. If bullish momentum holds, a close above $90,000 could reinforce a broader breakout attempt, setting the stage for Bitcoin to target new highs.
On Wednesday, BTC price reclaimed territories above the $91,500 level as markets reacted to speculations that US President Donald Trump could ease tariffs imposed on Canada and Mexico.
Bitcoin analyst Lance Roberts published charts showing how US Trade policy has impacted financial markets in recent weeks.
“Trade War 1 vs Trade War 2.
So far, the #market is tracing out Trump’s first trade war fairly closely. While no two markets are ever the same, it is worth noting that even though markets declined, they also rallied. The point here is to ignore media headlines and focus on your portfolio.”– Lance Roberts, March 5, 2025
Diving into the chart he posted, Lance Roberts’ chart draws a striking parallel between the S&P 500’s performance during the 2019 trade war and its 2025 trajectory, illustrating how historical market reactions to U.S. trade tensions could be playing out again.
In 2019, the market initially rallied before experiencing volatility tied to major trade-related developments.
One key moment highlighted in the chart is when former President Trump called off 25% tariffs on Mexico, triggering a strong rally.
Later, news of Trump-Xi trade deal talks fueled further gains, reinforcing the notion of a “Trump put”—the market’s expectation that
Trump would eventually ease trade tensions to support equities. This de facto put acted as a backstop, preventing prolonged downturns despite interim sell-offs. So far in 2025, the S&P 500 has followed a similar script, with a strong start before recent weakness, aligning with the early phases of the 2019 pattern.
This suggests that while the market is experiencing turbulence amid trade concerns, a potential bullish pivot could occur if Trump signals a shift in policy, just as it did in 2019. If history rhymes, Bitcoin could benefit as a risk asset.
However, the bearish case remains compelling. Unlike in 2019, today’s market is contending with structurally higher interest rates, which could dampen any relief rallies. Additionally, the Federal Reserve’s policy stance is less accommodative, meaning liquidity injections that cushioned past downturns may not materialize.
Ultimately, whether the 2019 pattern continues to play out in full will depend on the next moves from policymakers.
If trade tensions escalate further without policy relief and risk appetite deteriorates, BTC’s recent gains may prove short-lived, exposing the market to deeper corrections.
Conversely, if Trump eases the tariffs this week, both S&P 500 equities and Bitcoin price could be poised for another leg higher. In this case BTC price could hit new all-time highs near $120,000 once US Treasury begins buying BTC and other assets included in the crypto strategic reserve bucket.
Technical indicators on the 12-hour Bitcoin price forecast chart below suggest a close above the $90,000 could confirm a bullish shift in market momentum, especially if Trump officially rolls back the tariffs as widely anticipated.
BTC price has rebounded sharply, gaining 11.46% over the past 24 hours, signaling a resurgence in buyer confidence. The bullish momentum coincides with Bitcoin breaking out of the lower Keltner Channel (KC) boundary, historically a precursor to sustained rallies.
A confirmed move past $90,000 could see the upper KC boundary at $97,487 tested, with $100,000 becoming a psychological magnet if bullish momentum persists.
However, the Parabolic SAR remains positioned above price action, indicating that downward pressure has yet to be fully negated.
A failure to hold above $88,000 support could see a retracement toward the mid-KC line at $80,210, where buyers may attempt to reestablish control.
Meanwhile, the Bull-Bear Power (BBP) has flipped positive after a prolonged period in the red, reinforcing short-term bullish sentiment.
If BBP sustains its uptrend, further upside pressure could validate the bullish thesis. On the contrary, a sudden reversal in BBP, coupled with rejection at $90,000, might expose Bitcoin to another wave of selling.
The post Bitcoin Price Forecast: Analyst Lance Roberts Spots USA Trade War Signals blocking $120K BTC rally appeared first on CoinGape.
Recent breakthroughs in quantum computing have raised alarms for Bitcoin investors, prompting fears of a potential market collapse. But would a quantum computing leap actually send Bitcoin’s price spiraling to zero?
By mid-2025, the nearest realistic timeline to a threat remains 2030–2035. Around that time, we might see a wave of specialized machines, cloud services, and new operating-software layers. However, you won’t see desktop quantum machines any more than you see classical supercomputers in your living room.
Quantum computing has advanced significantly by June 2025. Google’s new 105-qubit Willow processor and Microsoft’s Majorana 1 chip demonstrate significant progress towards stable quantum computing.
Yet, despite these leaps, quantum computers capable of cracking Bitcoin’s cryptography remain years away.
Experts estimate that quantum systems must reach around 1,500 to 3,000 stable, error-corrected qubits to pose a direct threat to Bitcoin security.
Now, quantum computers work differently from today’s classical computers. They’re not just faster but can solve certain complex problems—like cryptographic puzzles—almost instantly.
Concerningly, Bitcoin, like most cryptocurrencies, relies heavily on cryptography to secure transactions and wallets.
So, if a quantum breakthrough happened suddenly, Bitcoin addresses using older encryption methods would be instantly vulnerable. This also includes Satoshi Nakamoto’s dormant wallet with nearly 1.1 million BTC.
Approximately 25% of all Bitcoin resides in reused addresses. That would leave billions of dollars potentially exposed.
In the short term, this scenario would trigger panic selling. Extreme panic might even see Bitcoin’s price plummet by as much as 30% to 50% within days.
However, this wouldn’t necessarily mean Bitcoin hits zero. Developers would likely respond quickly by upgrading the network to quantum-resistant cryptographic standards.
This emergency response could involve migrating to newer, secure addresses and implementing quantum-safe encryption methods.
Transitioning to quantum-resistant technology isn’t straightforward. It requires substantial coordination across miners, exchanges, and wallet providers.
Still, Bitcoin’s decentralized nature gives it flexibility, enabling the community to swiftly roll out necessary updates.
Longer-term recovery depends on the crypto community’s agility. If successfully upgraded, Bitcoin’s value could stabilize and recover from initial shocks, preserving investor confidence.
So, quantum computing threats, though real, aren’t immediate.
Most importantly, experts project a realistic quantum threat timeline around 2030–2035. It gives the crypto community crucial time to plan and implement protective measures.
In short, while a quantum computing breakthrough tomorrow would seriously disrupt Bitcoin’s market temporarily, it’s unlikely to wipe out its value completely.
The post Will Bitcoin Price Drop to Zero If Quantum Breakthrough Happens Tomorrow? appeared first on BeInCrypto.
The crypto market rallied today, May 9, continuing a trend that has been going on in the past few days. This surge happened as the crypto fear and greed index turned green and as the macroeconomic risks on trade subsided. This article explains why the cryptocurrency market is going up and then provides price predictions for some of the top gainers like Uniswap (UNI), Floki (FLOKI), and Fartcoin (FARTCOIN).
The crypto market is going up, with Bitcoin hovering above $102,000, and Ethereum soaring above $2,400 for the first time in months. Consequently, the market cap of all coins has jumped by 5.25% in the last 24 hours to $3.25 trillion. This surge happened for three key reasons:
The main reason why the cryptocurrency market is going up is the falling macro risks as trade talks start. The US has already reached a trade deal with the UK, and talks with China will start on Saturday. As such, there is rising optimism that GDP risks will subside, clearing a path for the Federal Reserve to start cutting rates.
Third-party data show that investors are accumulating Bitcoin, hoping that the coin will keep surging. Inflows to Bitcoin ETFs have soared to over $40.8 billion this year, and have risen in the last two consecutive months. Spot Ethereum ETFs have also started seeing more inflows this week.
Further, crypto-related deals are rising this year. Coinbase acquired Deribit on Thursday, while Ripple Labs recently bought Hidden Road and made a bid for Circle, the second-biggest stablecoin issuer. Kraken has also acquired NinjaTrader, while Robinhood bought BitStamp last year. These actions have led to optimism that the crypto market is on a strong growth path.
This section provides price predictions for some of the top-performing coins in the crypto market like Uniswap, Floki, and Fartcoin.
The daily chart shows that Uniswap price bottomed at $4.673 this month. It formed a small double-bottom pattern whose neckline was at $6, where it has moved above. Looking back, the coin has formed a giant double-bottom at $4.63, where it has failed to move below since August last year. The neckline of this pattern is at $19.47.
Therefore, the most likely Uniswap price forecast is bullish, with the first target being at $12. This target is the 50% Fibonacci Retracement level and the highest level on June 16, which is 91% above the current level. A drop below the support at $4.6 will invalidate the bullish outlook.
Fartcoin has been one of the top performers in the crypto market as it jumped by almost 500% from its March lows. It has continued rising and is now nearing the 50% retracement level.
The risk, however, is that the rally is losing momentum as the Average Directional Index (ADX) has tilted downwards. Also, the token has formed a rising wedge pattern, a reversal sign.
Therefore, there is a risk that it may pull back and possibly move below $1 in the next few days. A clear break above the upper side of the wedge will invalidate the bearish Fartcoin forecast.
The daily chart shows that the Floki price formed a big falling wedge pattern in the first quarter. After this, the coin formed an inverse head and shoulders pattern. It has now moved above the key resistance level at $0.0000962, the highest swing on April 30, and where it was forming a small double-top pattern.
The most likely Floki forecast is bullish, with the next point to watch being at $0.00011, the lowest swing on November 3.
There is a likelihood that the crypto market rally will continue as risks ease and Bitcoin demand surges. However, there may be volatility if US and China talks don’t end well.
The post Why is Crypto Market Going Up and Price Predictions on Uniswap, Floki, Fartcoin appeared first on CoinGape.