#BTCRebound Bitcoin Nears $84K as Bullish Tailwinds Strengthen
Market Overview:
Bitcoin (BTC) briefly surpassed $84,000, driven by bullish sentiment amid global market volatility and bond market chaos.
Wall Street rebounded sharply:
S&P 500: +1.81%
Nasdaq: +2.0%
Dow Jones: +1.5%
Rally supported by strong JPMorgan earnings, though CEO Jamie Dimon warned of macro turbulence ahead.
Macro Drivers:
U.S.-China trade tensions persist; tariff hikes continue despite a 90-day global tariff pause by the U.S.
Gold hit a record $3,200, signaling demand for safe-haven assets.
U.S. bond market turmoil:
10-year Treasury yields: 4.59%
Worst weekly drop since 2019
DXY fell below 100, boosting Bitcoin’s appeal.
Analyst Insights:
Arthur Hayes: BTC entering “UP ONLY” mode due to bond market dysfunction and potential Fed rate cuts.
BTC outlook:
Bullish patterns forming (falling wedge, Bollinger support)
Short-term resistance at $84K, next target $96K
Long-term potential: $100K–$140K by mid-2025 if trends hold.
Key Levels:
Support: $80,000
Resistance: $84,000, then $96,000
Target: $100K+ if bullish momentum continues
