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Bitcoin’s strong uptrend continues with rising demand and new highs nearing.
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Growing optimism and tariff war easing boost short-term Bitcoin gains above 27%.
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Ethereum shows bullish signs with flag breakout targeting $3,000 resistance next.
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Bitcoin upward trend has remained strong for many weeks, shown by sharp rises with small pullbacks. The steep upward trend line shows strong demand, which supports the goal of reaching new all-time highs. Recently, Ethereum’s rise has renewed buyers’ hope for more gains, especially if it breaks out above the local flag pattern.
Investors are also paying attention to the US Senate passing the GENIUS Act, which aims to regulate stablecoins. The digital currency market was not shaken by Moody’s lowering the US credit rating to AA1, which was due to increasing debt and little chance of reducing it.
Since the start of the year, Bitcoin has shown positive returns, especially in the last month, with gains of over 27%. Besides the long-term factors that will likely boost Bitcoin’s value, buyers also have the upper hand in the short term. This is mainly because there is growing global optimism and a higher willingness to take risks, thanks to a clear easing of the recent tariff war.
Even though uncertainty remains high, it now seems less likely that there will be a sudden major conflict involving China or the EU. Investors in stocks and cryptocurrencies are already acting as if this risk is low.
Since the beginning of May, ETFs have seen steady inflows, with $1.8 billion coming in during the first few days. This trend continued last week, with funds gaining another $600 million. If this keeps up through the end of the month, reaching new all-time highs should be just a matter of time.
During the current uptrend, buyers have relied on the uptrend line as their key support, and it held again this week. The main goal, which is now close, is the all-time high of around $109,000 per coin.
Even if the trend line breaks, it is too early to say the upward trend is over. In that case, a correction could happen down to the local support around $98,000 per Bitcoin.
After many months of falling prices, Ethereum buyers have taken control with a strong recent rise. Right now, there is a small flag pattern forming, and if the price breaks upward from it, this should signal that the upward trend will continue.
