Listen, guys, Bitcoin’s got a tough road ahead. CryptoQuant’s saying it might hit a wall at $84,000 unless things start looking up.
And if it breaks through? Well, the next big hurdle is $96,000. But let’s not get ahead of ourselves, shall we?
Resistance
You see, those old support levels? They’re so good, they’re now resistance. It’s like trying to get back into a club you used to own, now they’re keeping you out.
CryptoQuant says this has happened before in bearish cycles, and it’s not looking good unless the bulls start running again.
Volatility
April’s been a quite volatile month for Bitcoin so far. Trump’s tariff drama sent markets into a tailspin, but then he hit pause, and suddenly everything’s looking up again.
Bitcoin briefly touched $85,000 on April 1, but it plummeted to $76,000 by April 8. Then, after Trump’s tariff pause, it jumped back up to retest $83,000.
The broader markets loved it too, the S&P 500 had one of its biggest single-day gains since World War II.
If this is not the textbook definition of a rollercoaster, I don’t know what’s that.
Optimism
Now, some people are optimistic, for example Abra Global’s CEO, Bill Barhydt, thinks Bitcoin could hit $130,000 to $140,000 by late June.
Bitcoin: 130-140k
altcoins: significantly higher gains
tech stocks…It oughtta be a A mid summer night’s dream. pic.twitter.com/5IWWHlLajc
— Bill Barhydt (@billbarX) April 10, 2025
He’s betting on a global money supply boost to send Bitcoin skyrocketing. CryptoQuant’s Bull Score Index says Bitcoin’s been in one of its least bullish phases since November 2022.
Only one of their ten bull signals is active, and that’s just Bitcoin trading above its 365-day moving average.
So, what’s next? We need to see if those bull signals start firing again. Until then, Bitcoin’s playing a high-stakes game of poker.
Will it fold at $84,000, or will it go all in and break through to new heights?
Have you read it yet? Bybit’s back with growing market share
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