Bitcoin’s $80,000 Target Remains Elusive Amid New US-China Tensions
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Bitcoin
BTCUSD
traded near $78,000 on Thursday but continued to face resistance at the $80,000 level as fresh US-China friction weighed on risk sentiment.The White House accused Chinese entities of running deliberate campaigns to steal American AI technology, adding to geopolitical uncertainty weeks before a planned Trump-Xi summit.
White House Escalates AI Dispute With China
In a Thursday memo Michael Kratsios, Director of the White House Office of Science and Technology Policy, said foreign entities based in China are conducting “industrial-scale campaigns to distil US frontier AI systems.”
The campaigns allegedly use tens of thousands of proxy accounts and jailbreaking techniques to extract proprietary data from American AI models.
The administration said it would share intelligence with US AI firms and explore measures to hold foreign actors accountable.
This announcement arrives weeks before President Trump’s scheduled visit to China in mid-May for talks with President Xi Jinping.
Bitcoin Faces $80,000 Resistance
BTC opened at $78,193 on Thursday before retreating to roughly $77,465 by early morning trading. The $80,000 to $80,600 band has acted as a consistent ceiling throughout April.
On-chain data shows the Traders’ On-Chain Realized Price at $76,800 has capped recent relief rallies. On Deribit, the $80,000 call has become the most popular options trade, recording a notional value of $1.78 billion.
This suggests traders are positioning for a breakout that has yet to materialize, with call options (buy orders) exceeding put options (sale orders) highlighting higher investor optimism.While the AI dispute carries no direct technical link to Bitcoin, escalating US-China friction has historically dampened risk appetite across crypto markets.
The Bitcoin price being able to reclaim the $80,000 psychological level,. last tested in February, may hinge on broader sentiment heading into the Trump-Xi meeting.
source: https://www.tradingview.com/news/beincrypto:a7a585feb094b:0-bitcoin-s-80-000-target-remains-elusive-amid-new-us-china-tensions/
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