Bitcoin prices are experiencing a notable upward trend, currently hovering around its 50-week simple moving average (SMA) level of approximately $102,900. This mark has served as a crucial support for Bitcoin’s three-year upward trajectory. The cryptocurrency has already demonstrated positive momentum three times since 2023 when it reached this key threshold. This surge in price is coinciding with the easing of trade tensions between China and the U.S., following China’s decision to suspend additional tariffs on U.S. goods for a year. 50-week SMA has acted as a strong support for Bitcoin’s upward trend. 24% tariffs on U.S. goods were suspended, while a core 10% customs tariff remains in effect.