Bitcoin experienced a notable rally, reaching a peak of $88,500, driven by increased spot volumes. The price gains were tempered by global geopolitical concerns, including the potential for a tariff war. Following the news that the Trump administration had not finalized tariffs, Bitcoin managed to extend its gains from April 1. The market saw significant short liquidations, amounting to $145 million in the past 12 hours, with $69.4 million attributed to Bitcoin shorts. Experts suggest that the market structure is gradually shifting from bearish to bullish, evidenced by strong spot market activity and a returning Coinbase Pro premium. Recent corporate activities indicate confidence in Bitcoin, with companies like GameStop and Strategy actively increasing their BTC holdings. The immediate future for Bitcoin seems reliant on sustained buying volumes and responses to geopolitical developments.

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