- Bitcoin forms a bull pennant, signaling a potential breakout toward $137,000.
- Price jumps above $84,900 following new U.S. tariff exemptions on tech imports.
- Altcoins surge as traders increase risk appetite; stablecoin supply remains strong.
Bitcoin — BTC, has thrown a curveball. While most traders still braced for another leg down, the charts quietly hinted at something bigger. A clean bull pennant has formed on the daily timeframe, and Saturday’s price action gave even more fuel to the fire. Bitcoin jumped over 1.5%, landing around $84,900 — all while brushing against a major trendline that has capped the price since January.
#Bitcoin $137,000 in the Cards? 🚀#BTC has formed a bull pennant on the daily chart.
If it plays out, a new ATH could be reached — right against current market sentiment.Let’s see if price can break to the upside in the coming week! pic.twitter.com/Irr01KLvSE
— Titan of Crypto (@Washigorira) April 13, 2025
The Pattern Everyone’s Watching
Anyone following the charts knows this setup. A bull pennant doesn’t show up without a fight — and usually ends with a bang. The current one formed after the steep drop from all-time highs above $109K. Now, Bitcoin pushes right up against the top of that downtrend line. Break above it, and this whole market could flip bullish in a heartbeat. This weekend’s rally didn’t happen in a vacuum. The Trump administration dropped new guidance on tariffs, listing key product exemptions — including phones, chips, computers, and other electronics. U.S.
Customs released a document excluding billions in goods from the 125% China tariff and the baseline 10% global levy. That’s no small deal. According to The Kobeissi Letter, the U.S. imports over $60 billion in smartphones every year. This decision wasn’t just economic—it looked like a strategic pullback in the trade war. The bond market seems to have pressured the White House into easing up. That shift sent a ripple across risk assets — and Bitcoin responded fast.Meanwhile, something bigger brews under the surface. Momentum builds. Price flirts with resistance. Traders feel the tension — like a rubber band stretched tight.
Altcoins Wake Up and Wall Street May Follow
ETH, XRP, and ADA didn’t sit this one out. Each popped more than 6% in just 24 hours. The broader crypto market lit up with confidence. Investors leaned into risk, showing a clear appetite for movement. Stablecoins, too, stood their ground. The combined market cap of USDT and USDC stayed above $200 billion. That level signals strength — and plenty of capital ready to rotate into more volatile assets.
On the traditional side, Wall Street now watches this weekend action closely. Monday could bring some serious spillover. With Bitcoin showing life, stocks linked to the space — like Coinbase and MicroStrategy — may attract fresh attention. Some sections of the market now price in disinflation. That’s a fancy way of saying inflation fears may be overdone. If that trend continues, the Fed could finally have room to lower interest rates.
Cheaper money usually gives crypto more upside. Bitcoin tends to love looser policies. Everything lines up — a technical pattern, political headlines, and macro shifts — like dominoes stacked in sequence. If buyers push past the descending trendline, the stage opens wide for a rally toward $137K.