Why did Bitcoin rise today? Delaware pension funds enter the market, Trump withdraws tariffs, creating dual bullish signals

Bitcoin remains steady at $90,000. Delaware Life Insurance launches its first retirement product: 25% allocation to BTC with principal protection. Trump cancels Greenland tariffs, boosting risk appetite. Technical outlook remains solid with support at $89,500, aiming to break through $97,000 to challenge $100,000.

Delaware Retirement Product Sets Industry Allocation Precedent

The primary reason for Bitcoin’s rise today is the long-term demand support driven by institutional product innovation. According to a Business Wire press release, Delaware Life Insurance has introduced the industry’s first fixed indexed annuity offering indirect Bitcoin exposure. The product tracks the BlackRock US Stock-Bitcoin Balanced Risk 12% Index, combining stock and Bitcoin exposure while protecting the principal.

The index allocation is roughly as follows: 74% invested in US stocks, 25% allocated to Bitcoin via IBIT, and 1% for cash volatility management. This structure aims to capture Bitcoin’s upside while limiting downside risk. It marks a step toward integrating digital assets into traditional retirement planning. For long-term investors, this signals growing confidence in Bitcoin as a component of diversified portfolios.

The revolutionary aspect of this product is incorporating Bitcoin into retirement allocations. Retirement funds are among the most conservative asset classes, with cautious investment decisions prioritizing safety and stability. Delaware Life’s willingness to offer a product with 25% Bitcoin allocation demonstrates institutional recognition of Bitcoin’s long-term value reaching new heights. Moreover, the principal protection mechanism of fixed indexed annuities addresses the biggest concern of traditional investors regarding Bitcoin’s volatility.

From a scale perspective, the US retirement market exceeds $30 trillion. Even if just 1% of retirement assets are allocated to Bitcoin through similar products, it implies a potential demand of $300 billion. While Delaware Life’s product is just the beginning, it sets a precedent. As more insurers and pension managers follow suit, this structural buying could provide long-term price support for Bitcoin.

Key Features of Delaware Life Bitcoin Annuity

Allocation Ratio: 25% Bitcoin, 74% US stocks, 1% cash

Tracking Index: BlackRock US Stock-Bitcoin Balanced Risk 12% Index

Risk Control: Principal protection mechanism to limit downside risk

Strategic Significance: Pioneering Bitcoin inclusion in retirement portfolios, with a potential market size reaching trillions of dollars

Trump Withdraws Tariff Threats, Eases Geopolitical Risks

The second key factor behind Bitcoin’s rally today is the easing of geopolitical tensions. Bitcoin also benefits from reduced geopolitical pressure. President Trump withdrew the tariff threats related to Greenland, alleviating overall market uncertainty. This move supported risk assets.

On January 21, Trump met NATO Secretary General Stoltenberg at the World Economic Forum in Davos, and afterward tweeted that both sides had “developed a framework for future agreements regarding Greenland and the Arctic,” thus he would not implement the tariffs scheduled for February 1 that would have increased tariffs on eight European countries. This sudden policy shift triggered a sharp market reaction, with US stocks soaring, risk sentiment cooling, and risk assets like Bitcoin gaining.

However, details of the framework remain unclear. Denmark insists there was no discussion of sovereignty over Greenland. Greenland’s Prime Minister Nielsen stated he does not understand the specifics of the so-called “agreement framework” mentioned by Trump, emphasizing that Greenland’s sovereignty is a red line that cannot be crossed. Nielsen also stressed that NATO Secretary General Stoltenberg has no authority to negotiate on behalf of Denmark and Greenland.

These conflicting statements suggest that the so-called “framework agreement” may be more of a face-saving measure by Trump to cancel tariffs rather than a substantive territorial deal. Regardless of the truth, the cancellation of tariffs has indeed eased market fears of a trade war, which is positive for risk assets like Bitcoin.

Trump also warned on Thursday that if European countries sell US assets in response to his tariff threats, he will take “significant retaliatory actions.” Bloomberg reports that Trump told Fox Business during his Davos interview, “We hold all the cards. If they do that, so be it. But if that happens, we will respond strongly.”

Danish pension fund AkademikerPension announced this week it plans to sell $100 million in US Treasuries. Additionally, Greenland’s SISA pension fund said it is considering whether to continue investing in US stocks. These actions reflect European dissatisfaction with Trump’s pressure tactics, but their scale remains limited and has not yet caused substantial impact on US asset markets.

Technical Analysis: $89,500 Is a Critical Support Level

(Source: Trading View)

From a technical perspective, Bitcoin’s outlook remains neutral to slightly bullish. Recently, the price faced resistance around $97,100 and retreated to the $90,000–$90,500 zone, where support levels coincide with an upward long-term trendline. This area has become a key inflection point for short-term momentum.

Momentum indicators show the market stabilizing rather than strongly rebounding. The Relative Strength Index (RSI) has bounced from oversold territory but remains below bullish thresholds, indicating selling pressure has eased but no clear upward momentum has emerged. The 50-day moving average has crossed below the 100-day moving average, suggesting caution in the short term, while the 200-day moving average continues to support the overall trend.

The death cross formed by the 50-day crossing below the 100-day is typically a bearish signal. However, the upward trend of the 200-day moving average indicates the long-term trend remains intact. This mixed short-term bearish and long-term bullish signal reflects the market’s critical turning point.

If Bitcoin holds above $89,500, consolidation could extend toward $92,000 and $94,250. Confirming a move back above this zone could shift momentum toward $97,000 and potentially challenge the psychological $100,000 level. Breaking $100,000 would mark a new phase of price discovery, as this is an all-time high integer that Bitcoin has never touched before.

Conversely, a drop below $89,500 could lead to deeper support around $87,400. This level represents a key previous low and a zone of significant capitulation. Falling below could break the current bullish structure and trigger a deeper technical correction.

Key Technical Levels for Bitcoin

Core Support: $89,500 (long-term trendline and horizontal support)

Consolidation Range: $92,000 to $94,250 (target after holding support)

Major Resistance: $97,000 (previous high resistance)

Psychological Level: $100,000 (historical integer milestone)

Secondary Support: $87,400 (next support if $89,500 is broken)