Bitcoin is holding steady around $84,000, maintaining stability over the past 24 hours amid mixed market signals.
The cryptocurrency rebounded from early April lows near $75,000, but analysts remain split on whether this marks a true trend reversal or a temporary bounce.
On-chain data shows signs of recovering demand, though trading volumes remain well below bull market levels.
Bitcoin’s realized cap growth has slowed, and exchange balances are at their lowest since 2018, indicating limited sell-side liquidity.
Mining firms, facing economic pressure and rising US-China trade tensions, sold over 40% of their March BTC production—reversing post-halving accumulation trends.
Tariffs on mining equipment, especially in the US, threaten to shift mining dominance abroad.
Meanwhile, the weakening US dollar could provide tailwinds for BTC. The Dollar Index is near multi-year lows, and analysts see potential for further devaluation, which could boost Bitcoin’s value.
Technically, a breakout above the $86,300–$86,500 resistance zone is seen as crucial for restoring bullish sentiment. Support levels are noted at $73,900 and $64,700 if momentum fades.
Institutional flows remain mixed, with recent ETF outflows totaling $870 million, though volumes are holding relatively strong. Bitcoin’s ability to push past $86K will likely determine the next market phase.
