Bitcoin Faces $84K Resistance as Bullish Momentum Fades, Says CryptoQuant

Bitcoin is currently grappling with a significant resistance level at $84,000, signaling a potential stall in bullish momentum. The price of the cryptocurrency was hovering around $79,474 at the time of reporting, according to data from CryptoQuant. Despite experiencing volatility triggered by macroeconomic and geopolitical events, Bitcoin has struggled to sustain upward movement.

Key Resistance and Market Sentiment

According to CryptoQuant’s recent analysis, the $84,000 mark is now acting as a notable resistance level. The report suggests two possible scenarios:

If Bitcoin surges past $84,000, the next resistance may emerge near $96,000.
If the price fails to break through, $84,000 could strengthen as a technical ceiling, limiting further gains.

Indicators of buying strength seem to be weakening. The CryptoQuant Bull Score Index—which evaluates ten technical and on-chain factors—currently points to just one active bullish signal: Bitcoin trading above its 365-day moving average. This represents the lowest bullish sentiment since late 2022.

Impact of Geopolitical Events

Market swings were fueled by political developments, notably in early April when Bitcoin momentarily reached $85,000 before retreating to around $76,000. This sharp decline followed tariff announcements from U.S. President Donald Trump. A temporary 90-day suspension of these tariffs, excluding those on China, sparked a modest recovery, with Bitcoin bouncing back nearly 9% on April 9.

Looking Ahead

Despite the current cooling in momentum, some analysts remain hopeful that Bitcoin could hit a new all-time high in the coming months. For now, market watchers are closely observing whether bullish forces can regain strength. The $84,000 level remains a pivotal indicator of future price direction.

For more detailed analysis, visit the full article on CoinTelegraph.

Key Resistance and Market Sentiment

Impact of Geopolitical Events

Looking Ahead

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