Analysts suggest that Bitcoin price is facing a strong wall at $84,000, which could lead to a breakout for BTC toward $96,000.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
3 mins read
Bitcoin BTC $84 862 24h volatility: 1.3% Market cap: $1.68 T Vol. 24h: $24.09 B price is once again flirting at $82,000 levels amid the uncertainty in the US Treasury market, falling US dollar, and the escalating US-China tariff war. Although BTC has bounced back twice from the support of $75,000 over the past week, it faces major rejection at $84,000 levels on the upside.
In an April 10 market report, CryptoQuant analysts stated that Bitcoin (BTC), currently priced at $81,515, may encounter resistance at the $84,000 level if its rally continues. However, a breakout could push BTC higher toward its next resistance at $96,000. The report noted:
“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.”
Donald Trump announced that he would be delaying the tariff implementation for 90 days, which provided some relief to the markets while taking Bitcoin price close to the $84,000 resistance. Bitfinex analysts noted in a Thursday report that while the tariff pause has temporarily calmed markets following a volatile first quarter, it is unlikely to offer a lasting solution.
They added that while these conditions might provide short-term support for cryptocurrencies, a more substantial catalyst would be needed to drive significant capital inflows into Bitcoin. The Bitfinex analysts said:
“Bitcoin may also benefit from a slight reduction in macro pressure, but the market will likely wait for more concrete signals — such as a shift in Fed tone or improving liquidity conditions — before aggressively rotating back into crypto.”
Also, for the month of March, the US Consumer Price Index (CPI) cooled at 2.4%, showing signs of cooling inflation and raising the possibility of a Fed rate cut next month in May. The latest data from the US Labor Department reveals that CPI inflation eased to 0.1% in March, a decline from 0.2% in the previous month.
As the Bitcoin price bounced back, the US Dollar Index (DXY) dropped to 99.705, its lowest level since April, reflecting a weakening greenback against a basket of foreign currencies. At the same time, gold surged to a new all-time high of $3,220, continuing its record-breaking ascent.
Massive $3.6 Billion Bitcoin Inflow to Accumulation Addresses!
“Bitcoin accumulation addresses received 48,575 BTC — the largest single-day inflow since February 1, 2022. When accumulation addresses move this aggressively, it’s worth paying attention.” – By @burak_kesmeci pic.twitter.com/MVIFUcXKWz
— CryptoQuant.com (@cryptoquant_com) April 10, 2025
Additionally, a CryptoQuant report shows that Bitcoin accumulation addresses recorded a massive inflow of 48,575 BTC, equivalent to $3.6 billion, marking the largest single-day inflow since February 1, 2022. Analysts emphasize that such significant activity in accumulation addresses is a key signal worth monitoring.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
