Bitcoin’s Crazy Ride: Will it Hit $90K?

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🚀 Bitcoin‘s Crazy Ride: Will it Hit $90K? 🤑

Bitcoin’s Crazy Ride: Will it Hit $90K?

And so, it begins. The thrilling tale of Bitcoin’s price, careening wildly out of control like a spaceship on a collision course with a black hole. Or, you know, just a normal Tuesday. 🤯

As of today, April 2nd, Bitcoin’s (BTC) price has rallied by a whopping 5.53% to an intraday high of $87,333. Because, why not? 🤑 It’s been a ten-week downtrend since January 20th, when the price peaked at a mere $110,000. A small blip on the radar, really.

But fear not, dear Bitcoin enthusiasts! A decisive close above the trendline might just lead to continued bullish momentum. Because, you know, the laws of physics only apply to, well, everything else. 🚀

Spot Traders: The Unlikely Heroes 🦸‍♂️

It turns out that spot traders on Binance and Coinbase have been playing a game of “opposite stances” throughout March. Binance traders were like, “Nah, I’m outta here!” while Coinbase traders were all, “Hold my beer, I’m buying!” 🍺

But fast forward to April, and it seems like spot traders have collectively decided to join the party. And by “party,” I mean “rallying Bitcoin’s price to new heights.” 🎉

Data from aggr.trade shows that Coinbase and Binance spot bids are driving the positive action for BTC. And by “positive action,” I mean “making everyone’s wallet a little bit happier.” 😊

Dom, a crypto markets analyst, had this to say: “BTC has been able to breathe ever since the Binance selling tapered off. We are even seeing some spot buying from them for the first time in over a week.” 🤔

The Resistance Range: Flipped and Floored 🤯

From a technical perspective, Bitcoin has flipped an important resistance range between $84,000 and $85,000 into support. Because, why not? 🤷‍♂️ It’s not like the laws of physics apply here either. 🚀

However, based on the external liquidity levels between $87,700 and $88,700, which formed the previous highs, BTC prices might struggle to break this range immediately. But hey, who needs immediate gratification, right? 😒

On the flip side, an immediate correction to the current support at $84,000 and $85,000 could possibly discourage bulls, and short sellers might take control of price action. Because, you know, the market is always rational. 🙄

Bullish invalidation could be on the cards if BTC price closes below $85,000 over the next few days. But hey, don’t worry, it’s not like the world will end or anything. 🌎

With markets bracing for further market volatility ahead of President Trump’s “Liberation Day” tariffs, Bitcoin price is expected to react further during today’s White House press conference at 4 pm Eastern Time. Because, why not? 🤣

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2025-04-02 22:40