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Bitcoin Flirts with $84K as Stocks Rally and Bond Market Chaos Boosts Bullish Momentum
Bitcoin Eyes Breakout Amid Market Shifts
Bitcoin hovered near $84,000 on Friday, briefly touching $83,796—up over 4.5% in 24 hours—as investors reacted to easing trade tensions and turmoil in the U.S. bond market. A weakening dollar and rising inflation fears are driving renewed optimism toward risk assets, with analysts forecasting a potential breakout for BTC.
Wall Street Rebounds on Strong Earnings, Policy Hopes
U.S. stocks rallied sharply after a week of volatility.
S&P 500 rose 1.81%
Nasdaq Composite gained 2.0%
Dow Jones climbed over 1.5%
The rebound was fueled by a strong Q1 report from JPMorgan Chase, which beat expectations with $5.07 EPS on $45.31B revenue. However, CEO Jamie Dimon warned of “considerable turbulence” due to macro instability. Meanwhile, gold soared past $3,200, hitting a new record as a flight to safety continued.
Bitcoin Finds Strength in Uncertainty
Despite market volatility, Bitcoin remained resilient. The ongoing U.S.-China tariff standoff added to global uncertainty. President Trump temporarily paused most global tariffs for 90 days but raised Chinese import tariffs to 145%, prompting a 125% counter-tariff from Beijing. While fueling market jitters, the standoff also appears to be supporting Bitcoin as a hedge.
Arthur Hayes: ‘UP ONLY’ Mode Has Begun
Former BitMEX CEO Arthur Hayes sees bond market instability as a trigger for Bitcoin’s next surge.
10-year Treasury yields jumped to 4.59%
The bond market suffered its worst weekly drop since 2019
The U.S. Dollar Index (DXY) fell below 100, a two-year low
“We’re entering ‘UP ONLY’ mode for $BTC,” Hayes posted on X, predicting more policy responses if market stress continues. Traders are now pricing in three to four Fed rate cuts by year-end—typically a bullish catalyst for crypto.
Price Targets and Technical Setup
Crypto analysts are eyeing a potential parabolic run, especially if the DXY continues to slide.
Venturefounder cited DXY weakness as a signal BTC could hit $100K
John Bollinger noted a bullish bottom near $80K
Technical analysis shows a falling wedge—a classic bullish reversal pattern
A break above $84K could trigger a run to $96K, with midsummer targets as high as $130K–$140K, according to Glassnode and Cointelegraph.
Key Levels to Watch:
Support: $80,000
Resistance: $84,000, then $96,000
Long-term target: $100,000+ if momentum continues
With inflation data looming and global policy shifts underway, Bitcoin is increasingly seen as a safe-haven asset in a turbulent macro environment. Whether $84K becomes a launchpad or resistance will hinge on what comes next from Washington and the Fed.
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