Bitcoin (BTC) surged to a 45-day high above $91,000 on April 22, reflecting investors’ concerns over a potential economic recession amid ongoing global trade tensions. The upward movement coincided with gold reaching a new all-time high. The recent price gains have sparked discussions on whether Bitcoin will rally above $95,000. In neutral markets, Bitcoin futures typically have a premium ranging between 5% and 10%, but the current annualized premium stands at 6%, indicating a lack of strong bullish sentiment despite the recent price increase. Traders remain cautious around the $90,000 zone, as Bitcoin has struggled to sustain levels above $90,000 in the past. Despite trading 16% below its all-time high, Bitcoin’s performance has been more resilient compared to other major stocks like Nvidia, Amazon, Facebook, and Tesla. Recent comments from US Treasury Secretary Scott Bessent hint at a potential de-escalation in the US-China trade war, easing investor concerns. Meanwhile, demand for short-term US Treasurys has risen, leading to lower returns as investors seek safety in government bonds. The Bitcoin options market currently reflects limited enthusiasm, with the 25% delta skew indicator at -2%, suggesting a neutral sentiment among traders. While Bitcoin may revisit $95,000 or higher, many traders are monitoring developments in the US-China trade war before making further bullish bets. The first-quarter earnings season is expected to be relatively strong, with the “Magnificent 7” companies projected to achieve earnings growth of 14.8%. This article provides general information and should not be considered legal or investment advice, reflecting the author’s views and not necessarily those of Cointelegraph.