$BTC

Bitcoin bounced back on April 9, rising from $74,000 to $82,077 after U.S. President Trump announced a 90-day tariff pause for most countries, excluding China. Ethereum and Ripple also trimmed losses. The rebound followed Bitcoin’s dip to its key 365-day moving average at $76,100, a level that previously marked strong support in 2021 and 2024.

Despite the recovery, CryptoQuant’s bullish sentiment index dropped to 10—the lowest since November 2022. Only one bullish signal remains: Bitcoin trading above the 365-day MA. A reading above 40 is needed to confirm bullish strength.

Resistance lies at $84,000 and $96,000, where past support may now cap gains. Analysts warned that fading momentum and weak fundamentals—like falling network activity and low stablecoin liquidity—persist. The recent 27% price drop highlights market fragility. CryptoQuant advises caution, noting that sustained optimism depends on whether tariff relief boosts investor confidence.