#BTCRebound
Bitcoin Nears $84K as Stocks Rebound and Bond Market Chaos Sparks Bullish Momentum
Bitcoin briefly surged past $84,000 before settling around $83,796, gaining over 4.5% in 24 hours as optimism rises amid global economic uncertainty. The move coincided with a sharp rebound in U.S. stocks on April 11, driven by strong earnings from JPMorgan and a temporary pause in global tariffs. However, escalating U.S.-China trade tensions remain a key risk, with tariffs rising to 145% on Chinese goods and 125% on U.S. imports.
Meanwhile, dysfunction in the $29 trillion U.S. bond market is fueling bullish sentiment for BTC. Ten-year Treasury yields soared to 4.59%, and the U.S. Dollar Index dropped below 100—its weakest level in over two years. Former BitMEX CEO Arthur Hayes declared Bitcoin is entering “UP ONLY” mode, citing expected Federal Reserve rate cuts and continued market instability.
Analysts see a falling wedge pattern forming on Bitcoin’s chart, suggesting a potential breakout toward $96,000, with long-term targets as high as $130,000–$140,000 by midsummer. Key support sits at $80,000, with $84,000 and $96,000 as major resistance levels. As macro volatility grows, Bitcoin is increasingly seen as a hedge, positioning it for further gains if current trends hold.