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Bitcoin tests resistance at $85,526, likely to consolidate; details here
Crypto market update: The crypto market is navigating a phase of cautious bullishness, with Bitcoin (BTC) trading higher by nearly 2 per cent and Ethereum (ETH) at 3 per cent, posting steady gains. Bitcoin briefly tested resistance at $85,526 before pulling back, signaling potential consolidation in the near term.
April has historically been a strong month for crypto, but broader market sentiment, Riya Sehgal, research analyst, Delta Exchange, said, remains cautious amid macroeconomic uncertainties. "The upcoming ISM Services PMI, US Non-Farm Payrolls (NFP), and Fed Chair Jerome Powell’s speech could drive volatility, alongside former President Donald Trump’s tariff announcement," Sehgal said. These factors, she said, may cause fluctuations in IV, leading to both periods of contraction and expansion.
That said, at around 10:47 AM on Wednesday, April 2, 2025, Bitcoin, the world’s largest cryptocurrency, was quoted trading at around $84,449.6, up 1.65 per cent. Bitcoin has traded in the range of $85,487.37 to $82,550.70 in the last 24 hours. The 24-hour trading volume for the flagship currency is $28.46 billion, while its market capitalization stands at approximately $1,675.9 billion, according to data sources from Binance.
