The cryptocurrency market is stabilizing as Bitcoin (BTC) recovers above the 85K USD level, while Ethereum and XRP prices remain above 1,500 USD and 2 USD respectively. This comes after China announced new tariffs on imports from the USA in response to President Donald Trump's 145% tariff on Chinese products. Additionally, this week's CPI and PPI data were below expectations, which boosted Bitcoin and altcoin market prices. This has created room for a significant rebound in the upcoming week as demand for buying rises exponentially. Bitcoin Price Analysis Bitcoin has risen above the key level of 85K USD and is now aiming to maintain its rebound towards upcoming resistance channels. At the time of writing, the price of BTC is 84,864 USD, increasing by over 3.2% in the last 24 hours. The 20-day average price (82,246 USD) is starting to rise, but the RSI (which measures buying and selling strength) is fluctuating in the buying area at 64, suggesting that downward pressure is somewhat weakening. As Bitcoin hovers around strong resistance channels, it is likely to encounter a downward correction. However, if buyers maintain momentum above 85K USD, the price could rise to 89,000 USD, and possibly even to 95,000 USD next week. Also read: Next Bitcoin breakthrough? Experts say 200K USD is long-awaited On the other hand, sellers are likely to try to block this move and push the price back below the support level of 78K USD. If they succeed, Bitcoin may drop again to test the key support level of 74.5K USD. $BTC
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