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Why This Bitcoin Cycle Feels Boring — CryptoQuant Analyst Explains

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  • Bitcoin’s short-term holdings are down, indicating minimal engagement from new market entrants.
  • Macroeconomic conditions with tight liquidity and high interest rates impact fast-paced market rallies.
  • Institutional capital’s influence post-Bitcoin ETF approval has created a more gradual and structured market.

Bitcoin is trading 23% below its January all-time high of $109,000, as of mid-April 2025. Despite lingering bearish sentiment in higher timeframes, the cryptocurrency has rebounded 7.94% in the past week, nearing the key $85,000 level. While the market lacks the excitement of previous cycles, analysts believe this slowdown could signal a deeper structural change rather than stagnation.

In a recent analysis, CryptoQuant contributor Crypto Dan noted that current trends differ from earlier bull runs. Historically, Bitcoin’s upward moves were fast, driven by intense retail activity and explosive interest. This time, fewer new traders are participating. A much smaller percentage of Bitcoin is held for short durations—between one week and one month, pointing to a market dominated by long-term holders.

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Source: CryptoQuant

Dan suggests two core reasons for the change in momentum. The first is a tighter global economic setting. Unlike the 2020–2021 boom, when central banks unleashed massive liquidity and interest rates were close to zero, the present climate involves restricted capital flow and high borrowing costs. These conditions prevent rapid price surges and contribute to the slower rhythm.

Institutional Shift Replaces Retail Frenzy

The second reason, according to Dan, is the growing role of institutional investors since the approval of Bitcoin ETFs. Retail traders have gradually taken a backseat. As a result, market movements appear less chaotic and more measured. Dan described this new cycle as one that “intentionally avoids the mania of earlier cycles.”

Dan also cautioned against interpreting the current slow pace as a signal that the cycle has already peaked. While some on-chain data might support that view, he believes it “oversimplifies” a much more complex shift. 

According to him, “This cycle may not follow the old pattern of sharp rise followed by crash.” He suggests patience and a long-term outlook may be more useful in navigating the months ahead, especially as ETF inflows remain consistent and broader economic pressures could start easing. 

There’s still a good chance that 2025 will deliver meaningful market moves,” Dan noted.

Bitcoin On-Chain Metric Hints at Trend Reversal

Meanwhile, another CryptoQuant analyst, Gaah, highlighted that Bitcoin’s MVRV MA30d—an indicator used to assess price behavior—has dropped to its lowest level in six months. This metric has fallen back into a range that often reflects strong psychological support, between 1.8 and 2.1. This area has historically marked points where corrections halt or new uptrends begin.

The last time it hit a similar low was during Bitcoin’s recent dip to $50,000 That phase was followed by renewed upward movement. The same pattern now appears to be unfolding. Investors, particularly those with short-term positions, are either near break-even or taking small losses. This typically happens when selling pressure fades and prices find a foundation to rise from.

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Source: CryptoQuant

The fear dominating market sentiment today may not be as harmful as it looks. As Gaah points out, previous dips into this zone on the MVRV chart triggered positive reactions in Bitcoin’s price. Several marked rectangles on historical charts show Bitcoin recovering each time the indicator reached the current range.

Related Readings | Ripple Whale Moves $273M in XRP—Is a Massive Price Drop Coming?

Metaplanet Issues $10M in No-Interest Bonds to Fund Bitcoin Investment

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  • Metaplanet raised $10 million in zero-interest USD bonds to buy more Bitcoin.
  • The company now holds 4,525 BTC and aims for 10,000 BTC by end of 2025.
  • Bitcoin trading at $83,000, 25% below peak; Metaplanet sees it as buying opportunity.

Metaplanet Inc. has announced the issuance of its 11th Series of Ordinary Bonds, raising $10 million to fund additional Bitcoin purchases. The bonds were offered to EVO FUND and carry zero interest. This funding move is part of the company’s previously announced strategy dated January 28, 2025.

The bonds will mature on October 14, 2025. Metaplanet plans to redeem them using proceeds from its 14th to 17th Series of Stock Acquisition Rights. Unlike previous bond issuances that were based in Japanese yen, this one is structured in US dollars.

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Metaplanet Inc

According to CEO Simon Gerovich, raising funds in USD helps the company avoid the high conversion fees charged by Japanese banks. These fees typically apply when converting yen to dollars to buy Bitcoin. By securing dollars directly, Metaplanet reduces costs and gains access to better Bitcoin prices in international markets.

This approach also allows for a lower average acquisition cost. In turn, the company can increase its Bitcoin holdings more efficiently and improve value for shareholders.

Metaplanet’s New Logo Reflects Bitcoin Vision

Metaplanet has updated its logo to signal a stronger focus on Bitcoin. The new design symbolizes a gradual, block-by-block approach to growth. The company has set a goal of reaching 10,000 BTC by the end of 2025.

On April 14, the company expanded its Bitcoin holdings with the addition of 319 BTC. This latest acquisition followed two earlier purchases of 150 BTC and 156 BTC. As of mid-April, its total reserves stand at 4,525 BTC. The long-term target is to acquire 21,000 BTC by 2026.

These purchases have taken place while Bitcoin is trading around $83,000. This is about 25% lower than its record high of over $109,000. The company appears to be using the price decline as an opportunity to accumulate more Bitcoin at lower prices.

Analyst Indicates Bitcoin is Still Undervalued

CryptoQuant analyst BorisVest has shared data that supports Metaplanet’s investment strategy. He noted that Bitcoin reserves on exchanges have fallen to 2.43 million BTC — the lowest since 2018, down from 3.4 million during the 2021 bull run. A lower amount of Bitcoin on exchanges suggests that more investors are holding rather than selling. This decreases supply and can support future price increases.

The analyst also highlighted that the current Bitcoin SSR is 14.3..  A lower SSR means there is significant liquidity available to buy Bitcoin, even if prices fall. Since SSR has not returned to its 2021 level, the market still appears to be in an early growth phase.

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Source: CryptoQuant

Funding rates have also returned to normal. They now range between 0.00% and 0.01%. This change follows a previous spike during Bitcoin’s all-time high, which indicated excessive speculation. The return to neutral funding rates suggests a healthier market environment.

Metaplanet’s decision to expand its Bitcoin holdings aligns with current market signals. The drop in exchange reserves, stable SSR, and neutral funding rates all support a positive outlook for Bitcoin.

Related Readings | Hedera Slashes Fees for Relay Operators with HIP-1084 Update

Sui and Babylon Labs Join Forces to Bring Bitcoin-Backed Scalability to DeFi

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  • Sui leverages $1.5T Bitcoin liquidity via Babylon’s decentralized staking protocol.
  • Bitcoin holders can stake BTC on Sui without custodians earning rewards securely.
  • Sui to Become a Bitcoin Secured Network via Babylon, Enabling Bitcoin-Backed Scalability.

Sui, a Layer 1 blockchain platform, has officially partnered with Babylon Labs to form a Bitcoin Secured Network (BSN). Through its new collaboration with Bitcoin’s trusted and decentralized network, Sui achieves enhanced security and improved liquidity.

Babylon’s Genesis chain is now live, allowing Sui to utilize Bitcoin’s $1.5 trillion market liquidity to create new possibilities in Bitcoin-secured decentralized application development. The collaboration represents an essential move toward using Bitcoin solutions for decentralized financial applications (DeFi).

The Role of Babylon’s Bitcoin Staking Protocol

The Babylon Bitcoin staking protocol allows Bitcoin holders to securely participate in the Sui network without losing control of their assets. The integration enables Bitcoin holders to contribute BTC for blockchain security and earn rewards.

Using staked BTC, users provide better network protection to Sui while obtaining a safe system linking Bitcoin holders to the ecosystem. The platforms implement their partnership to enhance cross-chain liquidity, providing Bitcoin users easy access to the growing DeFi protocols on the network.

Fisher Yu, CTO of Babylon Labs emphasized the significance of this development, stating that the partnership will help bring more reward opportunities to BTC holders and create a more secure and decentralized foundation for DeFi applications. Through the integration Bitcoin’s utility will go beyond its current role as a store of value and be utilized in decentralized systems without third-party custodians.

Bitcoin-Backed Scalability for Sui’s Network

The networks blockchain gains Bitcoin-backed scalability by implementing the Babylon protocol as its security mechanism. The integration enables Bitcoin’s security and liquidity features to expand accordingly with the network operations which creates new financing options for decentralized services.

The Mysticeti consensus model from the platform operates through a Directed Acyclic Graph (DAG) -based parallelized block production system that maintains high throughput, thus benefiting Bitcoin’s security and liquidity.

Integrating into the Bitcoin Secured Network will allow Sui to leverage Bitcoin’s decentralized security roots while generating increasing performance for its ecosystem. Stakeholders who hold Bitcoin can now protect the high-performance network while helping to secure platform applications that support fast, private, and secure applications.

The partnership demonstrates an emerging trend in the blockchain market by utilizing Bitcoin, the largest digital asset based on market value to protect scalable blockchain networks. Integrating Bitcoin allows holders to convert their static assets into active components that enhance the digital economy.

Bitcoin’s Bullish Comeback: $85K and Rising as Tariff Fears Fade

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As Bitcoin rebounds to $85K, a bullish sentiment has swept across the crypto market in the post-tariff era. Santiment highlights the surge in optimism to the “tariff easing” announcement over the weekend, although the details of these exemptions are not quite clear. Despite that, BTC, in particular, received the highest level of positive (vs. negative) commentary.

Supporting this narrative is Santiment’s chart that shows the “Ratio of Positive vs. Negative Comments Toward Bitcoin Across Social Media.” The uptick in this ratio suggests a significant rise in positive commentary.

There has been an increased level of bullishness pouring in from the crypto crowd Monday. Ever since the (still not fully clarified) tariff exemptions announced over the weekend, Bitcoin in particular has had a flood of optimistic calls.

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Bitcoin's Bullish Comeback: $85K and Rising as Tariff Fears Fade 7

The chart also shows different “Crowd Zones” marked by bullish, polarized, and bearish. The positive shift in market sentiment from the day the tariffs were first announced, twelve days prior, has pushed the commentary to the “Crowd Bullish Zone.” The BTC price surging to $85.8k also reinforces the bullish outlook.

Bitcoin Eye $109K Target in Sight, But FOMO Persists

However, market experts caution that retail traders are more susceptible to market swings, and “FOMO and greed” might potentially take over once Bitcoin nears $90,000 this week.

“This is the highest level of positive (vs. negative) commentary since the day before Trump announced tariffs. Retail traders will always have a slight reactionary bias toward $BTC and altcoins after market caps swing a certain direction, so watch for FOMO and greed to take over if prices approach $90K this week,” wrote Santiment.

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Bitcoin's Bullish Comeback: $85K and Rising as Tariff Fears Fade 8

From the technical perspective, Bitcoin is poised for a breakout from a falling wedge pattern in the 3-day chart. Earlier, the $73K zone acted as a resistance level and is now seen as potential support. If the bullish momentum continues, analysts predict a long-term price target to be around $109K.

Mechanism Capital Founder Andrew Kang Makes Bold $200M Bullish Bet on Bitcoin

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  • Andrew Kang, the founder of Mechanism Capital, has doubled his bullish position on Bitcoin with a total of $200 million, showing strong confidence in a short-term BTC price increase.
  • This move came after a post made by Trump and a surprising 90-day pause on global tariffs, which the Senate Democrats now argue could involve insider trading and market manipulation.

Mechanism Capital founder Andrew Kang has made another $100 million bet that Bitcoin will go up, doubling his first one. Arkham said a wallet connected to Kang took a second leveraged long position, making his total bitcoin bet $200 million.

Andrew Kang, the founder of the crypto investment firm Mechanism Capital, has reportedly increased his bullish bet on Bitcoin, taking a $200 million long position, according to the blockchain data shared by analytics platform Arkham.

On April 12, Arkham shared a post on X, saying that a wallet linked to Kang made another $100 million leveraged trade, raising his total investment to $200 million. The latest move has a possibility of gaining or losing about $6.8 million, showing Kang’s strong belief in a short-term Bitcoin rise.

Trump’s Trade Policy Shift Fuels Kang’s $200M Bitcoin Bet


This additional $100M bullish move came days after Kang opened his first $100 million long position on April 9. After his first buy, U.S. President Donald Trump posted on Truth Social saying, “THIS IS A GREAT TIME TO BUY!!! DJT.” Soon after the post, the Trump administration paused its recently announced global tariffs for 90 days, and this reversed the earlier negative market reaction when the tariffs took effect.

In another post on April 12, Andrew Kang said the trade war retreat and the emergence of a “Trump put” would help create the ideal setup for Bitcoin to recover. He added that the current market condition is the perfect combination for BTC to break out of its multi-month downtrend.

This situation has sparked some sort of controversy. On April 11, Senate Democrats urged the Securities and Exchange Commission (SEC) to properly investigate potential insider trading and market manipulation related to the post Trump shared. They claimed the post may have hinted at the tariff rollback, giving some people an unfair market advantage.

Related Reading | Bitcoin Nears Breakout? On-Chain Signals Point to Big Move Ahead

Metaplanet Inc. Increases Bitcoin Reserves by 319 BTC with $3.78B Investment

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  • Metaplanet Inc. adds 319 BTC to its balance sheet, bringing its total Bitcoin holdings to 4,525 BTC, valued at approximately 58.1 billion yen.
  • The company invests 3.78 billion yen in Bitcoin, acquiring it at an average price of 11.8 million yen per BTC.
  • Metaplanet raises funds through zero-coupon bonds in partnership with EVO FUND, avoiding traditional interest payments.

Metaplanet Inc., a publicly traded Japanese company, has added an impressive 319 Bitcoins to its balance sheet as part of its ongoing treasury management strategy. This latest acquisition, made at an average price of 11.8 million yen per Bitcoin, amounts to a total investment of 3.78 billion yen.

With this purchase, Metaplanet’s total Bitcoin reserves now stand at 4,525 BTC, which were acquired at an average price of 12.8 million yen per Bitcoin, giving the company a Bitcoin portfolio worth approximately 58.1 billion yen.

Despite the ongoing downturn in the cryptocurrency market, Metaplanet’s stock has shown resilient performance this year, with a modest 0.57% gain. This is an indicator of the company’s solid position in the market, especially as it continues to strategically increase its Bitcoin holdings.

The company’s latest purchase further cements its strong belief in the long-term value of Bitcoin and its ability to navigate the volatility that often characterizes the crypto space.

Metaplanet’s Innovative Bitcoin Accumulation Strategy

To track the success of its Bitcoin accumulation strategy, the firm employs a specialized metric known as the “BTC Yield.” This measure reflects the growth of the company’s Bitcoin holdings relative to its shares in circulation.

Between January and March 2025, Metaplanet’s BTC yield stood at a robust 95.6%, a strong indicator of successful Bitcoin accumulation. The figure has continued to rise, with the yield reaching 6.5% from April 1 to April 14, 2025, showing continued growth despite a shorter reporting period.

Metaplanet’s Bitcoin-buying strategy is funded uniquely and innovatively. Rather than relying on traditional loans that involve interest payments, the company has partnered with EVO FUND, a prominent investor. Through this partnership, Metaplanet has been issuing zero-coupon bonds, which do not require interest payments.

EVO FUND, in exchange for providing capital, has the right to purchase the firm’s shares at the prevailing market price. This arrangement allows the company to raise the necessary funds to support its Bitcoin purchases while avoiding the financial burden of regular interest payments.

The funds raised through these zero-coupon bonds are then used in two ways: to either repay the bonds or to increase the company’s Bitcoin holdings. From January to March 2025, Metaplanet completed several rounds of bond issuance, ranging from 2 to 4 billion yen each, to sustain its Bitcoin accumulation strategy.

Metaplanet’s Bitcoin Strategy Protects Shareholder Value

Although the issuance of additional shares to support its Bitcoin purchases may raise concerns about shareholder dilution, Metaplanet has assured its investors that it is carefully managing this process. To maintain shareholder value, the company uses the “Bitcoin per fully diluted share” metric to demonstrate that, despite the issuance of new shares, the value of each share is increasing in terms of its Bitcoin holdings.

This approach allows Metaplanet to balance its strategic Bitcoin accumulation with the protection of shareholder value. The company’s proactive management of dilution shows a commitment to maximizing long-term returns for its investors, ensuring that shareholders are not losing out on the potential upside of the company’s increasing Bitcoin reserves.

Metaplanet’s aggressive Bitcoin-buying strategy mirrors that of MicroStrategy, which has famously turned its corporate treasury into a Bitcoin reserve. By combining creative finance techniques with a long-term focus on Bitcoin, Metaplanet is positioning itself as a leader in the digital currency space. With Japan’s growing interest in cryptocurrency, Metaplanet is strategically aligning itself to capitalize on this trend and emerge as a key player in Asia’s evolving crypto market.

Related | XRP Price Prediction: Heavy Whale Accumulation Suggests We Could See $3 For XRP In April

Bitcoin Hits $85K, Will Bulls Push Toward $97K Next?

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  • Bitcoin surged to an all-time high of $85K on April 14 before easing off.
  • There was a 15.8% rise in Binance open interest, which rose by $1.2 billion over 24 hours.
  • Bitcoin is resistance between $96,000 to $84,000, suggesting possible continuation on an upswing.

Bitcoin continued its upward trajectory over the weekend, briefly hitting a record high of $85,000 on April 14. As reported by TradingView, this surge was followed by a slight pullback as investors locked in profits. Despite the pause, attention now shifts to the psychological barrier at $97,000.

Analysts argue that a breakout above it could confirm a new bullish phase. However, if Bitcoin fails to breach it, the crypto could remain stuck within its current trading zone, limiting future gains in the short term.

Cryptocurrency analyst Ali Marteniz noted that $86,000 was a key resistance point. If Bitcoin surpasses this point, it could potentially lead to rally to $97,000. A failure to move up could lead to a correction to $79,000, which could mean a cooling down point following the recent bullish momentum.

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Source: X

Bitcoin Derivatives Inflow Hits $1.2 Billion

Analyst Burak Kesmeci revealed through CryptoQuant that Bitcoin’s open interest on Binance surged by 15.8% in just 24 hours. The increase represents a $1.2 billion jump, pushing total open interest on the exchange from $7.6 billion to $8.8 billion.

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Source: CryptoQuant

Open interest is an indication of overall capital going in through derivatives such as futures and options. An increase usually points towards increased activity by traders and fresh positions. Binance now holds 31.4% of the total market share, with worldwide BTC futures open interest amounting to approximately $28 billion.

Kesmeci emphasized that Binance is not merely mirroring market trends but is “actively leading it.” The sudden spike in open interest implies an accelerated accumulation in levered longs, indicating an increase in market volatility and possible liquidations. Traders are advised to remain cautious, as the market may experience swift and sharp price swings in both directions. 

Bitcoin Resistance Levels Between $84K and $96K

Bitcoin’s bullish trend is supported by technical indicators. The RSI is still at levels above 60, indicating potential for further gains. Furthermore, BTC has held above its 20-day exponential moving average, which tends to mean underlying strength in conjunction with sustained buying interest from market players.

As of writing, Bitcoin is trading at approximately $84,785 after recovering from a near-term bottom of $75,000. Tradingview reports that the price declined 0.50% over the last hour, rose 1.24% over 24 hours, and rose 1.15% over the week. These figures point to a steady but gradual bullish follow-through. 

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Source: TradingView

According to CryptoQuant, resistance may lie between $84,000 and $96,000, based on Realized Price data. Staying above $84,000 reflects continued bullish sentiment, while a drop below could signal waning momentum.

Read More: Bitcoin Holds Above $74K Support, Testing $85K Resistance Levels

Michael Saylor Hints At New Bitcoin Buy Amid Global Market Chaos

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  • MicroStrategy buys 22,048 BTC, raising holdings to 528,185 BTC
  • Bitcoin drops 22% as altcoins shed 33% in broader market slump
  • Saylor hints at new BTC buy as inflation fears gain momentum

MicroStrategy has resumed its Bitcoin purchases after it paused acquisitions which show its confidence in BTC despite market chaos. Co-founder Michael Saylor, hinted that the firm plans to purchase additional Bitcoin despite global market instabilities. The company’s decision reinforces its long-term Bitcoin investment approach because its protects value during market turbulence.

On March 31, MicroStrategy purchased 22,048 BTC which increased its total assets to 528,185 BTC. The company’s Bitcoin investment value has increased by 24% which resulted in over $8.6 billion in unrealized profits. Bitcoin recently fell below $80,000 which MicroStrategy views as an essential opportunity to buy.

Bitcoin Stays Calm Amid Market Chaos

The U.S-China trade tensions have worsened the current global market conditions. Financial markets have reacted to new tariffs and eliminated trillions in shareholder value. The crypto market has also declined although Bitcoin has proved more resilient compared to other cryptocurrency assets.

The Total3 index shows a 33% depreciation in altcoins market value since December 2024. However, Bitcoin experienced only a 22% decline from its January 2025 peak of more than $109,000. Bitcoin currently trades inside a narrow price band near the $84,000 level.

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Michael Saylor Hints At New Bitcoin Buy Amid Global Market Chaos 13

Investors continue to monitor Bitcoin price stability despite a $5 trillion stock market decline. The investor behavior shows that Bitcoin has transformed into a more stable store-of-value asset than a high-risk bet. BTC offers protection in volatile economic conditions.

Institution Bitcoin Investment

Blockstream CEO Adam Back recognized the shift in investment approaches at the Paris Blockchain Week 2025. Back predicted that inflation could rise to 10–15% over the next decade and diminish the actual returns on traditional financial assets. This could prompt more investors to express interest in Bitcoin as a long-term store of value.

Back observed that Bitcoin could compete with gold in some applications. He stressed that increased economic pressure and prolonged trade wars could fuel more Bitcoin adoption. Investors now understand the role of Bitcoin as an inflation hedge and a strategic store of value.

MicroStrategy has established itself as the primary institutional Bitcoin holder whose actions influences the overall market sentiment. The company’s Bitcoin acquisition indicates institutional behaviour towards Bitcoin especially in times of crisis. It’s continuous addition of Bitcoin bolsters optimism about the long-term potential of BTC.

Bitcoin Holders Were Right Again as Economic Data Cracks Emerge

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  • Bitcoin holders were early in spotting flaws in U.S. economic data, with Pompliano calling them the “first large-scale group” to act on this insight.
  • Skepticism grows around official economic stats, as even Treasury Secretary Scott Bessent admitted he doesn’t trust government data.
  • Bitcoin shows strength amid macro uncertainty, holding above $82K while equities stumble due to tariff fears.

Bitcoin holders may have been ahead of the curve again. According to crypto entrepreneur Anthony Pompliano, Bitcoin investors were the first to identify cracks in the United States’ official economic data and act accordingly. In an April 12 post on X, Pompliano claimed that “Bitcoiners were the first large-scale group to recognize the economic data was wrong, and they figured out a way to financially capture upside if they were right.”

Pompliano’s comments tap into growing doubts over the reliability of U.S. inflation, employment, and GDP statistics data traditionally trusted by mainstream financial analysts. But as macroeconomic pressures increase due to former President Donald Trump’s reintroduced tariffs, skepticism is mounting. “The unspoken secret as to why so many finance folks are wrong in their analysis of the tariffs is because the finance folks believe the government data,” Pompliano added.

In a March 20 LinkedIn post, Pompliano also spotlighted a revealing moment during U.S. Treasury Secretary Scott Bessent’s appearance on the All-In podcast. When asked directly whether he trusted the government’s economic data, Bessent answered, “No.” For Pompliano and many in the crypto community, that was a watershed moment. “Even the Treasury Secretary has now publicly acknowledged he doesn’t believe the data,” Pompliano wrote. “He says we must listen to the people rather than blindly follow the government data reports.”

Concerns about the accuracy of U.S. economic statistics aren’t new. A July 2024 report called for a re-evaluation of how data is collected and presented to ensure it remains trustworthy. But recent events, including market reactions to tariffs and volatility in the bond market have added urgency to the discussion.

Bitcoin Gains Strength While Equities Stumble

Meanwhile, Bitcoin continues to behave differently than traditional assets in this environment. On April 4, while U.S. equities stumbled amid tariff-related uncertainty, Bitcoin showed unexpected strength. The price remained steady above $82,000 and climbed to $84,720, despite broader market weakness. Historically, Bitcoin and crypto assets have shown higher volatility during economic stress, but the recent resilience could signal a shifting narrative.

Former BitMEX CEO Arthur Hayes even suggested that Bitcoin may be entering what he calls an “up only mode.” He argues that as confidence in traditional financial instruments declines, investors are increasingly turning to decentralized assets like Bitcoin as alternative stores of value.

Adding to this sentiment, Bitwise Invest’s Head of Alpha Strategies Jeff Parks stated on April 9 that “there is a higher chance Bitcoin survives over the dollar in our lifetime after today.” His remarks came as the U.S. Dollar Index (DXY) dropped 3.19% over five days, falling to 99.783, according to TradingView. This sharp decline contradicts predictions from several Wall Street analysts who believed Trump’s tariffs would strengthen the dollar, as reported by the Wall Street Journal.

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Pompliano summarized the situation bluntly: “The mainstream finance conversation has become an intellectual boondoggle where most people regurgitate ill-informed takes based on bad data.”

As confidence in government-issued economic data wanes even among high-level officials, Bitcoin’s value proposition appears stronger than ever. For early adopters and long-time holders, this moment could mark a validation of their strategy: skepticism, decentralization, and betting against a broken system.

Related | Ethereum Reclaims $1,574 Support, Eyes $1,810 as Next Resistance Level 

Bitcoin Holds Above $74K Support, Testing $85K Resistance Levels

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  • Bitcoin reached the $85K resistance level, bouncing back from the dip to $74,000 on April 9.
  • The resistance zone between $84K-$85K may trigger short liquidations, fuelling upside momentum.
  • Analysts foresee a pivotal breakout above $85K to validate bullish momentum or correction.

Bitcoin showed notable resilience as it clings to support above the critical $74,000 mark in this week—its 2024 peak. The zone continues to act as a crucial launchpad for bullish momentum, even after a dip to its lowest level in six months on April 9. Following the downturn, Bitcoin staged a strong recovery, surging past $80K and reaching $84K on April 13. 

According to Daan Crypto Trades, the weekly market structure remains bullish as long as Bitcoin holds the 0.382 Fibonacci retracement. Notably, BTC has respected this retracement for the third time in the current cycle, further validating $74K as a key inflection point for continued strength.

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Source: X

Double Top Formation and Bearish Implications

The “double top” pattern observed on the hourly chart is a concerning technical signal. Known for indicating price exhaustion, it suggests that Bitcoin’s current bullish trend may be nearing its end. This pattern, resembling the letter “M,” indicates a possible price breakdown if BTC fails to surpass the $84,000 resistance.

If BTC struggles to break the $84,000 resistance, a pullback is expected, with a failure to maintain support around $78,000 potentially leading to a deeper correction, even pushing the price below $74,000.

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Source: X

Bitcoin faces significant resistance between $84,000 and $85,000, aligning with the upper trendline of a descending channel that has confined price action since late 2024. If Bitcoin fails to break through this barrier, the bearish pressure could intensify, leading to a price retreat toward lower support levels.

Data from Coinglass shows that a large concentration of short positions exists around $85,000. A surge above this level could spark short liquidations, forcing bearish traders to exit positions and accelerating upward movement due to increased buying pressure in response.

Short-Term Bitcoin Outlook: Bearish or Bullish?

From a technical standpoint, Bitcoin’s short-term price action indicates a bearish bias. The hourly chart shows a pattern of declining highs and lows, with BTC struggling to maintain upward momentum. The current support around $84,870 marks a key level, as volume metrics suggest increased market activity. BTC’s price behavior since November 2024 has formed a downward-sloping channel, and analysts are watching for a potential breakout in the coming days.

Analysts agree that the next few sessions will be pivotal in determining Bitcoin’s direction. A move past the $85,000 level would confirm a shift toward a bullish market, potentially setting new record highs. However, if BTC faces rejection at this resistance, it could trigger a correction back toward $81,000, causing renewed market uncertainty.

Read More: Bitcoin (BTC) Breaks Pattern: Is a New Bull Leg Starting?