Bitcoin Nears $84K as Stocks Rally and Bond Market Chaos Spurs Bullish Outlook
AI Summary:
Despite ongoing economic uncertainty and turmoil in the bond markets, Bitcoin continues to show resilience, fueling predictions of a potential breakout. Analysts suggest that if the U.S. dollar continues to weaken, BTC could be on track to hit the $100,000 mark.
Bitcoin Gains Momentum Amid Trade Easing and Bond Market Stress
Bitcoin is eyeing a potential breakout, buoyed by easing tensions in the U.S.-China trade standoff and rising instability in the U.S. bond market. As optimism returns to Wall Street, analysts are closely watching Bitcoin’s next move in an unpredictable macroeconomic environment.
U.S. Markets Bounce Back
On Friday, April 11, U.S. stock indices rebounded sharply following a turbulent week fueled by inflation concerns and intensifying trade disputes with China.
The S&P 500 jumped 1.81%
The Nasdaq Composite climbed 2.0%
The Dow Jones Industrial Average advanced by over 1.5%
The rebound was partly driven by a strong Q1 earnings report from JPMorgan Chase, which reported $5.07 EPS and $45.31 billion in revenue, surpassing expectations. However, CEO Jamie Dimon warned of continued “macroeconomic turbulence” ahead.
Meanwhile, gold hit an all-time high, surging past $3,200, as investors turned to safe-haven assets.
Bitcoin Tests $84K as Sentiment Shifts
Bitcoin briefly surpassed $84,000 before settling around $83,796—up more than 4.5% in 24 hours. Despite recent fluctuations, BTC is holding firm amid policy and economic headwinds.
Trade tensions remain a critical factor. President Trump temporarily suspended most global tariffs for 90 days, while raising duties on Chinese imports to 145%. In response, China imposed 125% tariffs on U.S. goods.
This tug-of-war has added to market volatility but has also provided Bitcoin with breathing room as traders assess the broader impact.
Arthur Hayes Predicts 'UP ONLY' Phase for Bitcoin
Former BitMEX CEO Arthur Hayes predicts Bitcoin is entering a sustained bullish phase, citing instability in the $29 trillion U.S. Treasury market:
10-year Treasury yields jumped to 4.59%
The bond market posted its worst weekly drop since 2019
The U.S. Dollar Index (DXY) dropped below 100, marking its weakest performance in over two years
“We’re likely to see more policy responses if this continues,” Hayes noted, declaring, “$BTC is entering UP ONLY mode.”
Traders are now pricing in three to four Federal Reserve rate cuts by the end of the year—historically a bullish catalyst for Bitcoin.
$100K in Sight? Analysts Weigh In
With the U.S. dollar weakening, analysts are increasingly optimistic about a major Bitcoin rally:
Noted analyst Venturefounder suggests a continued decline in DXY toward 90 could propel BTC toward $100,000
John Bollinger, creator of Bollinger Bands, highlighted a bullish bottom formation near $80K
Technical charts show a falling wedge pattern, a setup often signaling bullish reversals
According to Glassnode and Cointelegraph, a breakout above $84K could open the door to $96K, with longer-term targets ranging from $130K to $140K by midyear.
Macro Factors Drive Crypto Optimism
As bond yields spike, inflation remains a concern, and trade tensions evolve, investors increasingly view Bitcoin as a hedge against broader macro instability. Whether $84K becomes a new support level or a ceiling will depend on upcoming data and policy decisions.
Let me know if you'd like a shorter version or if you need this tailored for a specific audience or platform.
