$BTC has reclaimed the $85,000 mark, signaling a pivotal moment in the market.
Here’s what I am watching with both bullish and bearish perspectives:
◢ Bullish Indicators
~ Long-Term Holder Accumulation
Since April 6, long-term holders (LTHs) have increased their Bitcoin positions, contributing to a 12% price rise.
This trend suggests renewed market confidence.
~ Positive Funding Rates
Current funding rates are at 0.0037% according to @coinglass_com, indicating that traders are willing to pay premiums for long positions, reflecting bullish sentiment.
~ Analyst Predictions
Some analysts forecast Bitcoin reaching $87,730 in the near term, with potential to hit $104,714 by mid-April, representing a 26% increase.
◢ Bearish Signals
~ Resistance at $85,000
Bitcoin faces strong resistance at this psychological level.
Failure to break through could lead to a drop to $74,000 or even $52,000 if macroeconomic conditions worsen.
~ Market Volatility
The Cboe Volatility Index (VIX) has surged to 48.4, indicating heightened market uncertainty, which could negatively impact Bitcoin’s price.
~ Trade Tensions
Escalating global trade tensions, including new tariffs, have led to market instability, affecting investor confidence in cryptocurrencies.
- - Key Levels to Watch
Support; $80k and $74k are critical support levels, a drop below these could signal further declines.
Resistance; breaking and holding above $85k could pave the way to $88k.
◢ Investor Sentiment (Fear & Greed Index)
Currently at 43, yesterday it was 25 indicating “Extreme Fear,” which often precedes market rebounds.
Conclusion
while Bitcoin’s rise above $85,000 is promising, market participants should remain cautious due to prevailing uncertainties.
monitoring key support and resistance levels, along with macroeconomic indicators, will be crucial in the coming days.
Tất cả bình luận (0)