Macro Forces and Miner Trends Could Propel Bitcoin to $90K in April

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Bitcoin is gaining upward momentum as April unfolds, with its price nearing the $85,000 mark after rebounding from a recent low of $74,400. Several factors—ranging from macroeconomic shifts to blockchain network fundamentals—are aligning to support a potential breakout toward $90,000.

Macroeconomic Stimulus Bolstering Demand

Central banks across the globe are implementing more accommodative monetary policies:

  • China’s central bank reported a sharp jump in new bank loans in March.
  • The European Central Bank executed its seventh rate cut in a year.

These efforts aim to cushion their respective economies amid rising trade tensions and sluggish growth outlooks. Meanwhile, the U.S. Federal Reserve has resisted altering its interest rates but faces increased pressure amid a weakening dollar. The U.S. Dollar Index (DXY) has dropped to its lowest in three years, raising speculation that the Fed may soon follow suit with stimulus—historically a positive catalyst for risk assets like Bitcoin.

Resilient Miner Behavior Post-Halving

Despite the recent halving event, which sliced mining rewards in half, Bitcoin miners have shown remarkable confidence. Key indicators include:

  1. An 8% increase in the network’s hashrate month-over-month, signifying ongoing operational investment.
  2. Miners holding approximately 1.8 million BTC, reducing fears of widespread sell-off.

This show of strength from miners—who are critical to supporting the blockchain’s infrastructure—lends credence to sustained upward price pressure.

Bitcoin’s Divergence from Traditional Markets

As equity markets falter, Bitcoin has taken a different path, suggesting an emerging decoupling from traditional financial systems. This divergence is attracting investors looking for alternative stores of value amid global uncertainty.

Final Thoughts

Although Bitcoin has yet to surpass gold in relative performance this year, the combination of dovish central bank policies, strong miner fundamentals, and increasing investor interest could drive further gains. With these tailwinds, a push to $90K in the near term appears increasingly plausible.

Source: TradingView

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