According to the new review of the Cryptoquant market, Bitcoin (BTC) may be experiencing a final test near the resistance level of $ 84,000. After a large fall in early April, buyers control again. But if Bitcoin can continue to rise, he will decide if he can reach $ 96,000 or if the cryptocurrency will remain stuck in the low range of $ 80,000.
Bitcoin goes to a $ 96K rally, faces a large $ 84K barrier
In a report on April 10, cryptocant experts said the price levels that used to support Bitcoin during this Toro race are now acting as possible resistance. They pointed out $ 84,000 as the next important level that Bitcoin must pass.
The report says that these pricing levels used to keep Bitcoin during this execution of bull, but if the market does not maintain its upward impulse, they could now make it difficult for the price to rise.
If Bitcoin manages to overcome $ 84,000, experts say that the next milestone could be 96,000, especially if the general economy helps boost the entire market.
BTC Price recovers after the 90 -day Trump Frozen Rate
According to Coinmarketcap data, at the time of reporting reports, Bitcoin was quoted at $ 79,474, which fell around 3.5% in the last 24 hours. Due to the strict announcement of the rates policy of the president of the United States, Donald Trump, the cryptography market experienced a strong fall earlier, but suddenly recovered after stopping global tariffs for 90 days, except China.
On April 1, Bitcoin rose to more than $ 85,000, but fell to $ 76,000 for April 8 due to the growing concerns about the global economy. After Trump made an announcement on April 9, Bitcoin increased 9% and briefly touched $ 83,000 again. US stock markets also increased sharply, reaching maximum record.
After World War II, this is the third increase of a single S&P 500 day increased by 9.52%, while Nasdaq 100 increased by 12.02%.
Analysts predict that Bitcoin amounts to $ 130K in June
Bill Barhydt, the CEO of Abra Global, said in a publication on X (previously Twitter) on April 10 that Bitcoin could soon go higher than its previous record of $ 109,000. He expects the price to reach between $ 130,000 and $ 140,000 for the end of June.
“Bitcoin is a risky but strong bet in technological actions, and everything is continuously increasing,” said Barhydt, pointing to world growth in money supply as a main reason.
Similarly, Real Vision’s main cryptography analyst Jamie Coutts, recently told Cointelegraph that people could be judging how quickly Bitcoin could reach new maximums before the end of the second quarter.
The Cryptoquant Toro score indicates caution during market optimism
Although the positive feelings on the market have returned, the Cryptoquant bull score index shows that the market remains in a fairly weak bull race, the weakest that has been since November 2022.
At this time, only 1 in 10 signals of important bulls tracked by the index is currently active. Bitcoin is quoted above its mobile average of 365 days. According to Cointegraph, experts say that merchants should closely monitor if more signals become after the recent stop in tariffs.
Important price points
Instant Resistance: $ 84,000
Key resistance level: $ 96,000
Support area: $ 76,000 – $ 79,000
Market Upside (halfway): $ 130,000 – $ 140,000
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Discharge of responsibility: In Bitcoinik.com we present the most recent information in the encryption market. However, this information should not be considered as financial advice, and viewers must consult their financial advisors before investing.
