[New York Coin Market/Opening] Bitcoin Rebounds on Tariff Suspension News... Eyes $120,000

# Bitcoin Rally Continues Amid Hopes of Tariff Delay; $120,000 Breakout Feasible Former U.S. President Donald Trump’s indication of a delay in European tariffs has rejuvenated risk appetite, propelling Bitcoin(BTC) and other risk assets. Bitcoin, which recently hit an all-time high of $111,800, saw a brief retracement—a move analysts view as a healthy correction in an ongoing bullish trend. Technical indicators suggest Bitcoin has a solid potential to break the $120,000 mark. As of 9:10 a.m. New York time on October 26, Bitcoin(BTC) trades at $109,756 on Binance, up 2.23%. Major altcoins like Ethereum(ETH), XRP(XRP), Solana(SOL), and Cardano(ADA) are also experiencing recovery. Following Bitcoin's recent peak, market sentiment remains mixed. Optimists foresee further gains, while cautious analysts suggest a potential consolidation phase. The digital asset market faced turbulence last weekend due to Trump’s hardline stance on European trade. However, the U.S. decision to delay tariff implementation from June 1 to July 9 has calmed the market somewhat. # Key Technical Indicators Signal Bitcoin Upside Key technical metrics continue to favor Bitcoin’s upward momentum. Even after hitting $111,800 and entering a corrective phase, Bitcoin is trading around a key Fibonacci 0.618 retracement level, with critical moving averages converging in this zone. These indicators point to a healthy correction rather than a top formation, likely setting the stage for a higher low before the next uptrend. The market structure remains strong. Since support was found at $91,500, Bitcoin has consistently posted higher highs and higher lows, reinforcing bullish sentiment. Should Bitcoin maintain the crucial $106,500 support during this correction, analysts believe it will continue on an upward trajectory. Random Crypto Pal, a cryptocurrency investor, commented, “Bitcoin(BTC) is poised for another climb.” Investor Kevin T added, “The tariff delay has injected fresh momentum into Bitcoin. Once negotiations conclude, we expect significant market strength.” # $120,000 in Sight if Major Resistance is Surpassed Many analysts believe Bitcoin’s post-correction rally is imminent. Crypto analyst Carpe Noctom noted, “Since 2014, Bitcoin(BTC) has had an eight-week consecutive rally only three times. Each instance featured a one-week pullback, but the subsequent six-month or one-year periods consistently showed positive price action.” He added that if historical patterns hold, Bitcoin could resume its rally this week, with possible consolidation next week. Should Bitcoin(BTC) sustain the $106,500 support level, it is expected to enter a preparatory phase for testing higher prices. Analysts are eyeing the $120,000 milestone, which is both a critical technical target and a significant psychological barrier. The maintenance of support levels will be crucial for the next upward movement. A breakout could occur as early as this week, potentially leading to further gains.