Bitcoin (BTC) Price May Encounter Resistance at the $84,000 Level

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.

Bitcoin 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.

The apex coin has bounced back twice from the support of $75,000 over the past week, but it faces major rejection at $84,000 levels on the upside.

However, if the bulls manage to break through the Fib. 0.786 at $84,000, they could encounter the next resistance at Fib. 0.82 at $96,000.

These Fib. 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.

What Can Push Bitcoin Price Up From Here?

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.

According to Bitfinex analysts, although the tariff pause has temporarily calmed markets following a volatile first quarter, it is unlikely to offer a lasting solution.

Moreover, these conditions might provide short-term support for cryptocurrencies, but more substantial capital inflows into Bitcoin would require a different catalyst.

“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,” the analysts stated in their Thursday report.

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 slipped to 0.1% in March, presenting a slowdown from the 0.2% rise in the previous month.

At the same time, the US Dollar Index (DXY) dropped to 99.705, reaching its lowest level since April, reflecting a weakening greenback against a basket of foreign currencies.

On the other hand, gold surged to a new all-time high of $3,220, continuing its record-breaking ascent.

At the same time, the US Dollar Index (DXY) dropped to 99.705, reaching its lowest level since April, reflecting a weakening greenback against a basket of foreign currencies.

On the other hand, gold surged to a new all-time high of $3,220, continuing its record-breaking ascent.

The post Bitcoin Faces Fib. 0.786 At $84,000 As US CPI Cools And Trump Delays Tariffs appeared first on СryptoBriefing.