• Bitcoin steadies above $80,000 as the broader market sentiment holds amid inflation risks.
• Donald Trump will visit China on Wednesday, with trade as the main focus.
• Injective and Near Protocol are leading gains over the last 24 hours.

Bitcoin trades above $80,000 at press time on Wednesday amid accelerating US inflation risks driven by the Iran war and US President Donald Trump’s travel to China. At the same time, AI tokens, including Injective (INJ) and Near Protocol (NEAR), are leading gains over the 24 hours. 

Trade could overshadow the Iran war during Trump’s visit to China

US President Donald Trump will visit China to meet President Xi Jinping, alongside the last-minute invitee, Jensen Huang, CEO of NVIDIA. Trump said the discussion will mainly focus on trade and not the Iran war, as previously reported by FXStreet.

In the same breath, Trump added, “We’re either going to make a deal or they’re going to be decimated one way or the other,” clarifying his stance on Iran.

On the other hand, the US Consumer Price Index came in hot on Tuesday, with a 3.81% Year-on-Year (YOY) rise and a 2.75% rise in CPI ex-food and energy (YoY). This reflects rising oil prices linked to the US-Iran war and the blockade of the Strait of Hormuz.

Technical outlook: Will AI tokens sustain their rally?

Injective is up 6% at press time on Wednesday, maintaining a steady upward trend so far this week. The AI token maintains a firm bullish bias as price holds above the 50-, 100-, and 200-day Exponential Moving Averages (EMAs), clustered well below the market.

The strong push has lifted the pair through the 61.8% and 50.0% Fibonacci retracements, measured over the downswing from $5.90 to $2.65. A decisive close above the resistance cluster of the 200-day EMA at $5.17 and the 78.6% Fibonacci retracement near $5.21 could extend the rally to the $5.90 swing high.

Meanwhile, the Relative Strength Index (RSI) sits deep in overbought territory near 84 on the daily chart, and the Moving Average Convergence Divergence (MACD) histogram continues to expand in positive territory, hinting that upside momentum remains strong but increasingly stretched.

If the 200-day EMA caps the recovery, the initial support is seen at the 61.8% retracement near $4.66.

On the other hand, Near Protocol is up 4% on Wednesday, extending the 4% rise from the previous day. NEAR holds a bullish bias as price holds above the 50-, 100- and 200-day EMAs clustered between roughly $1.39 and $1.58.

The AI token is also trading above the 78.6% Fibonacci retracement of the latest downswing from $1.89 to $0.84, at $1.66. A decisive close above this level could stretch the upside toward $1.89.

The RSI sits in overbought territory near 72, and the MACD prints a positive, expanding profile, suggesting strong but potentially overextended upside momentum.

Looking down, the initial support is seen at the 200-day EMA near $1.58 and the 61.8% Fibonacci retracement at $1.49.

(The technical analysis of this story was written with the help of an AI tool.)