Bitcoin may hit a wall at $84K if bullish conditions don’t pick up
Bitcoin could face resistance around $84,000, but if it breaks through, the next major hurdle sits at $96,000.
Bitcoin could hover in the low $80,000s in the near term if it fails to break through its next resistance level, CryptoQuant says, while other analysts predict the cryptocurrency will hit a fresh all-time high within the next two months.
If Bitcoin BTC $81,274
“continues to rally,” it could hit resistance around the $84,000 price level, but if it breaks through, it could soar before its next resistance level of $96,000.
Bitcoin’s previous support levels are now resistance
“These price levels have acted as price support during this bull cycle but can now act as price resistance if bullish conditions don’t continue to improve, “This has been the case in past bearish cycles.”
Bitcoin was trading at $79,474 at the time of publication, down 3.5% over the past day.
April has been a volatile month for Bitcoin. US President Donald Trump ramped up global tariffs on April 2, which triggered fear in financial markets, before later abruptly pausing them for 90 days and softening the bearish momentum.
Bitcoin briefly rose above $85,000 on April 1, but it pulled back to around $76,000 by April 8 due to uncertainty surrounding Trump’s tariff plans.
CryptoQuant said prices recovered “most of the lost ground” on April 9, after Trump announced the 90-day pause on tariffs to all countries except China, which have now been ramped up to 145%.
Bitcoin may first find resistance at $84,000 and then at the $96,000 area.
After Trump’s tariff pause announcement on April 9, both the crypto and broader financial markets saw a wider surge.
Bitcoin surged by approximately 9%, reversing most of the losses it incurred earlier in the week, to retest $83,000. Meanwhile, the S&P 500, which tracks the 500 largest public US companies, closed 9.52% higher, its third-largest single-day gain since World War II. The Nasdaq 100 posted a 12.02% gain over the trading day.
Abra Global CEO Bill Barhydt said in an April 10 X post that it may only be a matter of months before Bitcoin sees its price go almost 29% above its $109,000 all-time high set in January.
“Bitcoin is a levered bet on tech stocks, and all of it is going up and to the right,” Barhydt said, adding that Bitcoin may go as high as $130,000 to $140,000 by late June.
Crypto Market Update: Ripple XRP News, Trump Tariff Pause, BTC Dominance, and UniSwap
The cryptocurrency market is abuzz with significant developments, particularly in the realms of Ripple, Bitcoin, and UniSwap. A joint motion filed by Ripple and the US Securities and Exchange Commission (SEC) to settle their ongoing lawsuit has sparked interest in the crypto community. XRP's price has responded positively, currently trading at $2.00 with a market capitalization of $116.36 billion.
Meanwhile, the recent announcement of a 90-day pause on reciprocal tariffs by Donald Trump has boosted Bitcoin's price, pushing it past $80,000. This move has significant implications for the crypto market, with many investors turning to Bitcoin as a safe-haven asset. Bitcoin's dominance is evident, with its market capitalization standing at over $1 trillion.
UniSwap has also made headlines, expanding its services to include fiat off-ramps for crypto-to-bank transfers. This development enables users to seamlessly transfer funds between cryptocurrencies and traditional fiat currencies, further bridging the gap between the two.
The crypto market is experiencing a significant shift, with many investors turning to decentralized finance (DeFi) and alternative cryptocurrencies. The recent developments in the Ripple and SEC lawsuit, Trump's tariff pause, and UniSwap's expansion are expected to have far-reaching implications for the market.
In conclusion, the cryptocurrency market is poised for continued growth and innovation, driven by key developments in Ripple, Bitcoin, and UniSwap. As the market continues to evolve, it's essential to stay informed and adapt to the changing landscape. With its growing adoption and increasing institutional interest, the crypto market is likely to remain a major player in the financial world.
$BTC $XRP $TRUMP
Trump’s $5.3 Trillion Tax Cuts and Debt Hike
President Donald Trump and House Speaker Mike Johnson
Trump’s $5.3 Trillion Tax Cuts and Debt Hike
President Donald Trump and House Speaker Mike Johnson spearhead efforts to advance $5.3 trillion in tax cuts over the next decade, alongside a substantial $5 trillion debt ceiling increase. Congressional Republicans aim to extend the 2017 tax legislation, introducing fresh cuts while targeting $4 billion in spending reductions.
Economic growth is the asserted outcome of this initiative, though market reactions have been mixed. “It is IMPERATIVE that Republicans in the House pass the Tax Cut Bill, NOW! Our Country Will Boom!!!,” stated Donald Trump, Former President of the United States. Some stakeholders express concern over proposed cuts to Medicaid and other social programs, suggesting potential fiscal strain and questioning the equity of these adjustments.
U.S. stocks displayed varied responses to these plans. Initial reactions were positive due to Trump’s suspension of proposed tariffs, hinting at potential economic relief. House Speaker Mike Johnson expressed confidence in the successful passage of the accompanying budget resolution, reinforcing commitment from congressional Republicans.