- Bitcoin eyes $84K as resistance zone tightens
- Hoskinson sees BTC hitting $250K this year
- Consolidation phase signals breakout ahead
Bitcoin is currently trading near $81,000 as it enters what analysts describe as the second phase of its consolidation. Despite short-term pullbacks triggered by market uncertainty and global policy shifts, several indicators suggest Bitcoin could be preparing for a breakout. Analysts say resistance levels at $84,000 and $96,000 will determine the next direction. The consolidation phase, according to recent analysis, is setting the stage for a renewed bullish push.
Short-Term Pressure Builds as Market Awaits Clear Break
Bitcoin has experienced sharp price moves throughout April, fluctuating between $76,000 and $85,000 in response to global news. Reports from CryptoQuant suggest that $84,000 remains a strong resistance point. If breached, the next zone to watch is $96,000.
Despite a 2.4% daily gain, analysts caution that early-stage recession signals, such as widening credit spreads, could suppress momentum. Markus Thielen of 10x Research explained that Bitcoin may initially react negatively to Federal Reserve rate cuts or yuan devaluation due to perceived economic weakness.
Market data shows that core inflation eased to 2.8%, leading some experts like David Sacks to call for a rate cut. However, CME’s FedWatch Tool shows markets still expect no change at the next FOMC meeting. Bitcoin’s recovery pace may depend on further clarity from economic policy makers.
Long-Term Sentiment Turns Positive as Liquidity Expectations Build
While near-term sentiment remains mixed, several industry figures remain optimistic about Bitcoin’s future. CryptoQuant’s data shows that if the digital asset moves beyond its resistance zone, it could advance toward new highs.
Abra CEO Bill Barhydt suggested Bitcoin could reach between $130,000 and $140,000 by late June.Charles Hoskinson also expects strong moves by late summer or fall, supported by increasing institutional interest and liquidity.
His $250,000 forecast is linked to global monetary trends, including rising geopolitical risks and legislative progress in the U.S. For now, Bitcoin’s second consolidation phase may be nearing its end.
