Bitcoin soared to $86,444 as markets wait for U.S. trade tariffs, but analysts are divided. Some predict a breakout, while others warn of potential price declines post-announcement.
Bitcoin has hit April highs, climbing to $86,444 on Bitstamp as traders gear up for “Liberation Day” in the US. Data from Cointelegraph Markets Pro and TradingView confirms this is BTC’s most impressive performance since March 28. As anticipation builds ahead of President Trump revealing new trade tariffs, volatility in the market remains a key feature.
As the US stock market dipped slightly during early trading, Bitcoin surprisingly regained ground within a significant zone marked by long-term trend lines. Cointelegraph highlighted that this includes both simple and exponential moving averages—essentially the 200-day SMA, which has lost its stable bull market support.
Trader Rekt Capital shared insights about the situation, emphasizing the ongoing consolidation between different Bull Market EMAs. He noted that the 21-week EMA is descending, symbolizing lower prices. The declining trend means Bitcoin’s breakout might just be around the corner as it tries to push beyond recent limitations.
“Bitcoin is one Daily Candle Close above & retest of the Downtrend away from breaking out into a new technical uptrend,” Rekt Capital mentioned, indicating a potentially positive trend.
However, not everyone shares an optimistic view, especially with macro expectations looming. Trading firm QCP Capital remained skeptical, warning their Telegram followers that risk assets could slip following whatever tariffs Trump announces. They described Bitcoin’s current sentiment as “broadly subdued,” with ETH clinging to a support level at $1,800. The cumulative state of the crypto market displays signs of fatigue, and many coins have tumbled significantly.
Last month, Bitcoin’s daily relative strength index (RSI) ditched a downtrend seen since November 2024, leading some observers to wonder if this could lead to a turn. But without some sort of major shift in the macro setting, QCP warns, the climb might be very uphill. Past tariff-related announcements have generally caused BTC prices to fall.
On the other side of the analysis spectrum, there are firms like Swissblock that present a more hopeful outlook. They stated there’s “no sign of an imminent collapse” for Bitcoin while suggesting it remains at a critical juncture. Yet, they do warn of a potential slide back to $76,000 if negative responses arise to the tariff news, which would mark an 11% drop from where it currently sits.
Look, the market is definitely swirling in uncertainty. It’s impossible to know if Bitcoin will hold steady as a hedge or follow other traditional financial trends into a decline. The collective sentiment of traders and investors will be key in gauging Bitcoin’s next moves as the day unfolds and the tariffs’ implications reveal themselves.
In summary, Bitcoin’s climb to $86,444 marks a significant moment as anticipation builds for U.S. trade tariff announcements. While some analysts express optimism about a possible breakout in price, others remain cautious, predicting downward pressure in the face of market uncertainty. With differing perspectives, the crypto market’s trajectory remains unclear depending on upcoming macroeconomic events and trader sentiment. Investors are advised to stay vigilant and conduct thorough research before making decisions.
Original Source: cointelegraph.com