Bitcoin is eyeing a breakout as easing U.S.-China trade tensions and rising instability in the bond market fuel investor optimism. Wall Street stages a strong rebound, while analysts weigh in on BTC’s potential trajectory amid ongoing macroeconomic headwinds.
Stocks Rally as Sentiment Shifts
U.S. markets surged on Friday, April 11, reversing recent losses driven by inflation concerns and trade friction between the U.S. and China:
S&P 500 gained 1.81%
Nasdaq Composite jumped 2.0%
Dow Jones climbed over 1.5%
The rally was boosted by JPMorgan Chase’s earnings beat—reporting $5.07 EPS on $45.31 billion in revenue. Despite the upbeat report, CEO Jamie Dimon cautioned about “considerable turbulence” due to economic instability.
Meanwhile, gold soared past $3,200, hitting a record high as investors sought safe-haven assets.
Bitcoin Briefly Tops $84K Amid Volatility
Bitcoin (BTC) surged over 4.5% in 24 hours, briefly crossing $84,000 before settling near $83,796. Despite recent swings, BTC has remained strong against a backdrop of economic and geopolitical uncertainty.
The U.S.-China tariff dispute continues to impact markets. President Trump paused most global tariffs for 90 days but raised duties on Chinese goods to 145%. In response, China slapped 125% tariffs on U.S. imports. While this fueled volatility, it also opened a window for Bitcoin as traders recalibrated.
Arthur Hayes: BTC Could Enter “Up Only” Mode
Former BitMEX CEO Arthur Hayes predicts Bitcoin is on the verge of a major rally, citing dysfunction in the $29 trillion U.S. Treasury market:
10-year Treasury yields spiked to 4.59%
The bond market saw its worst weekly drop since 2019
DXY (U.S. Dollar Index) slipped below 100—its lowest in over two years
“If this continues, expect more policy responses this weekend,” Hayes tweeted. “We’re entering ‘UP ONLY’ mode for $BTC.”
This view echoes growing market sentiment, with traders now pricing in three to four Fed rate cuts by the end of the year—a typically bullish sign for Bitcoin.
BTC Heading Toward $100K?
With the dollar weakening, analysts see the stage set for a potential parabolic run:
Venturefounder highlighted the falling DXY as a precursor to a major BTC rally, possibly pushing it toward $100,000
John Bollinger sees BTC forming a bullish bottom around $80K
Technicals point to a falling wedge—a classic bullish reversal pattern
Analysts from Cointelegraph and Glassnode suggest a breakout past $84K could lead to $96K, with midsummer targets between $130,000–$140,000
Macro Factors Continue to Drive BTC Sentiment
As bond yields spike, inflation data looms, and trade uncertainty persists, investors increasingly view Bitcoin as a hedge against macro risk. Whether BTC breaks through $84K or stalls depends on upcoming data and central bank responses.
Key Levels to Watch
Support: $80,000
Resistance: $84,000, then $96,000
Bullish Target: $100,000+ if momentum continues
