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The Bitcoin price rose over 1% in the last 24 hours to trade at $83,792 as of 11:37 p.m. EST on trading volume that surged 26% to $45 billion.
The BTC price increase came even as JPMorgan predicted that the US economy will enter a recession this year as President Donald Trump’s tariffs hammer activity.
Tariffs hike import costs, slashing supply in the U.S.
Prices soar—think Mexican veggies (25% tariff) or Vietnamese shoes (33% of U.S. supply).
Shortages hit, fueling inflation & recession risks.
My infographic breaks it down with a car shortage example. 2/5 #economics… pic.twitter.com/Qnv9wfzars
— Filippo Esposito (@EspositoFilippo) April 5, 2025
The Bitcoin price proved resilient in the past 24 hours, prompting some analysts to say that it was decoupling from stocks.
Bitcoin Price On A Key Support Zone
The BTC price action has exhibited a double-top formation, which is a bearish reversal pattern. The neckline of this pattern, around the $91,000 region, was broken, leading to a sharp decline in the Bitcoin price.
Currently, BTC is consolidating near the $81,000 level, which has acted as strong horizontal support. The price is hovering just below the 50-day Simple Moving Average (SMA) at $87,187.95 and near the 200-day SMA at $86,664.32, indicating a struggle between buyers and sellers.
The Relative Strength Index (RSI) is at 46.70, which is slightly below the neutral 50 level. This indicates a lack of strong momentum in either direction but leans towards bearishness.
Meanwhile, the blue Moving Average Convergence Divergence (MACD) is crossing above the orange signal line, which shows that the asset is on a bullish stance.
BTC/USDT Chart Analysis (Tradingview)
BTC Price Prediction
Bitcoin’s price action suggests a cautious outlook as it struggles to regain lost momentum. If the Bitcoin price fails to break above the $87,000 resistance (50-day SMA), BTC could see further downside toward the next key support levels at $80,000 and possibly $75,000.
On the bullish side, if the price of Bitcoin manages to reclaim the 50-day and 200-day SMAs and break above $90,000, it could invalidate the bearish thesis and retest the $100,000 zone.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give away real Bitcoin.
99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL has the potential to soar 100X after launch.
A Promising Alternative
The BTC Bull token presale continues to gain traction, having already amassed over $4.43 million.
BTC Bull rewards holders with Bitcoin airdrops whenever $BTC reaches major price milestones for the first time. It will also initiate token burns at specific price points.
A key feature of BTC Bull’s appeal is its reward system, where Bitcoin airdrops are triggered at milestones like $150,000 and $200,000.
There will also be a massive BTCBULL airdrop for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
Beyond the Bitcoin rewards, the project also incorporates token burns that kick in when BTC reaches $125,000, and repeat for every $25k increase in the Bitcoin price after that.
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 94% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.002445 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in a little more than 1 day to lock in the best deal.
Visit the BTC Bull Token website.
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