$BTC

*Recent Price Action: Bitcoin has shown a significant rebound after testing the $74,000 - $76,000 support level. It has climbed back above $85,000 and is attempting to reclaim the $86,000 mark.

*Tariff Relief Influence: A recent rally on April 9th coincided with a 90-day tariff pause announced by the U.S. President for most nations (excluding China). This event is cited as a factor contributing to the rebound.

*Technical Analysis:

- Bitcoin has been trading around $84,000 - $85,000.

- Resistance is noted around the $88,000 and $96,000 price zones.

- Support is identified around $79,000, with a longer-term pivotal support at the 365-day moving average (around $76,100). A sustained break below this could indicate a bear market.

*Trends suggest that if Bitcoin closes above $91,000, it could signal a strong bullish recovery.

*Market Sentiment: The Short-Term Holders MVRV (Market Value to Realized Value) ratio has increased, indicating a potential shift in market sentiment towards recovery. However, crossing above 1.00 is seen as necessary to confirm significant price gains for short-term investors.

*Bull Score Index: Cryptoquant's Bull Score Index remains low, suggesting that while there's a rebound, sustained bullish conditions are not yet confirmed. The index needs to rise above 40 for a stronger bullish signal.

*Trading Volume: Daily trading volume for Bitcoin has seen a significant decline recently, which could pose a challenge to the sustainability of the uptrend.