Bitcoin $100K target ‘back on table’ after Trump tariff pause supercharges market sentiment

Quick Summary:

In the past, Bitcoin has spent about half the time trading above this price range and half below, making it a good indicator of whether the market is feeling positive or negative, according to Glassnode analysts.“We now have confluence across several onchain price models, highlighting the $65k to $71k price range as a critical area of interest for the bulls to establish long-term support,” they wrote in a recent weekly analysis, adding: “Should price trade meaningfully below this range, a super-majority of active investors would be underwater on their holdings, with likely negative impacts on aggregate sentiment to follow.”Related: Bitcoin has 'fully decoupled' despite tariff turmoil, says Adam BackBitcoin’s worst-case scenario is a decline toward $50,000Breaking below the $65,000-71,000 range could worsen Bitcoin’s probability of retesting $100,000 anytime soon.

Source: TradingViewAs of April 9, Bitcoin’s price was confined within the falling wedge range while eyeing a breakout above its upper trendline at around $83,000.

Notably, the $65,000-71,000 range is based on two important Bitcoin metrics—active realized price ($71,000) and the true market mean ($65,000).

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Article Details

Author / Journalist: Cointelegraph by Yashu Gola

Category: Crypto

Markets: United States

Topics: Bitcoin Wedge Price Markets $100 Falling Rebound Target Upper April Range

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-09 @ 21:30:00 (6 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 585 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 27762505

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