Trump's one-word statement triggered a Bitcoin surge! After breaking through a key barrier, Bitcoin's next target could reach $98,000

Bitcoin tested a critical level on Tuesday that analysts say has been a key obstacle to further gains for months.
Analysts say this puts the pioneering cryptocurrency on the verge of a breakout, and once it effectively breaks through, its price could once again approach six figures. As signs of easing tensions between the US and Iran emerge and market risk appetite quickly recovers, Bitcoin surged strongly in the past 24 hours, briefly breaking the $76,000 mark.
Bitcoin tested a critical level on Tuesday(April 14), which analysts say has been a key obstacle to further gains for months. Analysts say this puts the pioneering cryptocurrency on the verge of a breakout, and once it effectively breaks through, its price could once again approach six figures.
With signs of easing tensions between the US and Iran and market risk appetite rapidly recovering, Bitcoin rose sharply in the past 24 hours, briefly surpassing $76,000, significantly outperforming the broader risk asset rebound.

The key catalyst igniting the rally comes from the Middle East situation.
Previously, U.S. President Trump signaled Iran's willingness to engage in peace negotiations, prompting markets to bet that geopolitical tensions might ease. Trump told the New York Post that there could be "more negotiations" in the next two days, with the location in Pakistan. Trump said, "You better stay there because something might happen in the next two days, and we prefer to go there."
As a result, Brent crude oil prices fell back below $100 per barrel, inflation concerns marginally eased, and worries about the Federal Reserve maintaining high interest rates also diminished, with funds flowing back into stocks and risk assets like cryptocurrencies.
According to FactSet data, the world's largest cryptocurrency, Bitcoin, reached a high of $76,094 on Tuesday, then retreated to about $74,333 in the afternoon.
Katie Stockton, founder and managing partner of Fairlead Strategies, said Bitcoin briefly broke through the key resistance level of $75,200. Stockton used a daily cloud model to identify this critical technical barrier, a widely used indicator among technical analysts.
For Bitcoin, which has been in a bear market zone since November last year and remains over 40% below its October 6 high of $126,272.76, maintaining this level is crucial.
Typically, a bear market is defined as a decline of 20% or more from a recent high. Stockton and other technical analysts note that if Bitcoin can stay above $75,200, it may mean that after months of pressure, it has finally regained momentum. But if it falls back below, it indicates many investors still see the rally as a selling opportunity.

Focus on whether Bitcoin can sustain above $75,200.
In an interview with MarketWatch, Stockton said that if Bitcoin can "hold above $75,200 for a few days—unlike similar breakout attempts in mid-January—that would mark a short-term breakout." In this case, Bitcoin's near-term outlook would improve, with the next target at $98,200.

Another technical indicator provided by Tyler Richey, a Sevens Report Research technical analyst and co-editor, also suggests that Bitcoin's technical pattern is becoming more attractive. Richey told MarketWatch on Tuesday, "The risk-reward ratio for buying or adding to Bitcoin is significantly improving right now." He pointed out that if Bitcoin futures confirm a breakout above $74,685, the cryptocurrency could quickly rise to $83,190.
Subsequently, investors should look toward the second target of $92,000. However, if Bitcoin futures fail to break through this level, it indicates that too many investors still see downside risk as outweighing short-term upside potential.
Richey wrote, "This failure isn't necessarily a bearish signal, but it will keep the strategic technical outlook neutral for a period."
On Tuesday, major U.S. stock indexes rose, signaling strong technical momentum. According to Dow Jones market data, the Dow Jones Industrial Average closed up 0.7% on Tuesday. The S&P 500 index reached its highest level in two months, less than 0.2% below its all-time closing high. The Nasdaq Composite recorded its 10th consecutive trading day of gains, the longest streak since November 2021.