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- India proposes zero tariffs on U.S. goods, easing trade tensions.
- Bitcoin rebounds above $109K, fueled by trade optimism and institutional buys.
- Technical risks remain, with BTC double top pattern signaling possible pullback to $99K.
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U.S. President Donald Trump announced a potential breakthrough in trade negotiations with India, revealing that the country is willing to cut tariffs on U.S. goods to “nothing.” The news comes as Bitcoin (BTC) rebounds strongly, breaking above the psychological $109,000 level. Both developments could have significant implications for U.S.-India trade relations and the cryptocurrency market.
Trump Tariffs: India Signals Willingness to Negotiate
In a Truth Social post, Trump stated that India has offered to reduce tariffs on American goods, a move long overdue according to the former president. He emphasized that the trade relationship between the two nations has been one-sided for years, with India buying substantial amounts of U.S. oil and military products while imposing high tariffs that limit American business access.
Trump initially imposed a 50% tariff on India to address this imbalance, particularly as India sources most of its oil and military supplies from Russia. The new proposal signals a potential resolution to these long-standing trade tensions.
Bitcoin Rebounds Amid Trade Optimism
Bitcoin responded positively to the news of a possible U.S.-India trade deal. According to TradingView, BTC climbed from an intraday low of $107,271 to a high of $109,890, currently holding around $109,000. Analysts suggest that the resolution of trade disputes can boost investor sentiment, indirectly supporting cryptocurrency markets.
Market experts also highlight Fibonacci targets for Bitcoin between $135,000 and $150,000 following this rebound. Institutional interest remains strong, with Japanese firm Metaplanet acquiring 1,009 BTC today, increasing its holdings to 20,000 BTC—underscoring continued confidence in the flagship cryptocurrency.
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Technical Caution: Double Top Pattern Could Threaten BTC
Despite the bullish momentum, technical analyst Titan of Crypto warns of a potential double top formation on the BTC chart. If the pattern plays out, Bitcoin could drop to around $99,000. Investors are advised to watch the neckline closely, as a breach may signal short-term bearish pressure despite broader market optimism.
India’s willingness to reduce tariffs on U.S. goods marks a potential turning point in trade relations, while Bitcoin’s rebound above $109K suggests renewed market optimism. Investors, however, should remain cautious of technical patterns that could influence near-term price movements.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: $11B Bitcoin Whale Moves Billions Into Ethereum
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
