Bitcoin had a strong day today as Asian markets went absolutely nuts. Japanese and Korean stocks hit record highs that nobody saw coming. Japan’s Nikkei 225 blasted past 50,000 for the first time ever, jumping over 2%, while South Korea’s KOSPI rocketed 2.1% to break through 4,000.
The whole thing’s happening because traders think the US and China are actually making progress on their trade deal and might extend the tariff truce. When that kind of news hits, people start piling money back into riskier stuff like stocks, commodities, and obviously crypto.
Bitcoin’s now sitting right at a key level around $116,074 . If it can punch through that resistance cleanly, it basically confirms the recent drop from $126,289 was just a pause rather than the start of something uglier. Breaking above would clear the path for another attempt at that $126K high.
Even if Bitcoin wobbles and dips again, traders think it should hold above $101,896. As long as that floor stays solid, the overall uptrend is still intact and healthy.
But if Bitcoin gets smacked down at $116,074 and can’t break through, things could get messier. A drop below $101,896 wouldn’t end the bull run necessarily, but it would show sellers still have some fight left in them, and the consolidation might take longer.
Conclusion
Bitcoin tested $116,074 resistance as Asian stocks exploded, with the Nikkei breaking 50,000 and the KOSPI surpassing 4,000 amid growing US-China trade deal optimism.
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