$BTC has reclaimed the $85,000 mark, signaling a pivotal moment in the market.

Here’s what I am watching with both bullish and bearish perspectives:

◢ Bullish Indicators

~ Long-Term Holder Accumulation

Since April 6, long-term holders (LTHs) have increased their Bitcoin positions, contributing to a 12% price rise.

This trend suggests renewed market confidence.

~ Positive Funding Rates

Current funding rates are at 0.0037% according to @coinglass_com, indicating that traders are willing to pay premiums for long positions, reflecting bullish sentiment.

~ Analyst Predictions

Some analysts forecast Bitcoin reaching $87,730 in the near term, with potential to hit $104,714 by mid-April, representing a 26% increase.

◢ Bearish Signals

~ Resistance at $85,000

Bitcoin faces strong resistance at this psychological level.

Failure to break through could lead to a drop to $74,000 or even $52,000 if macroeconomic conditions worsen.

~ Market Volatility

The Cboe Volatility Index (VIX) has surged to 48.4, indicating heightened market uncertainty, which could negatively impact Bitcoin’s price.

~ Trade Tensions

Escalating global trade tensions, including new tariffs, have led to market instability, affecting investor confidence in cryptocurrencies.

- - Key Levels to Watch

Support; $80k and $74k are critical support levels, a drop below these could signal further declines.

Resistance; breaking and holding above $85k could pave the way to $88k.

◢ Investor Sentiment (Fear & Greed Index)

Currently at 43, yesterday it was 25 indicating “Extreme Fear,” which often precedes market rebounds.

Conclusion

while Bitcoin’s rise above $85,000 is promising, market participants should remain cautious due to prevailing uncertainties.

monitoring key support and resistance levels, along with macroeconomic indicators, will be crucial in the coming days.