Bitcoin News: Bitcoin fluctuates around $84k as stocks recover, and turmoil in the bond market fuels optimistic sentiment
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Bitcoin's price awaits a breakthrough as the easing of the trade war and the deterioration of the U.S. bond market spark investor optimism. Wall Street is sharply recovering, while analysts forecast the next BTC move amid macroeconomic uncertainty.
U.S. stocks rise amid changing market sentiment
On Friday, April 11, U.S. stock markets recovered after a volatile week marked by inflation concerns and escalating trade tensions between the U.S. and China.
S&P 500 rose by 1.81%,
Nasdaq Composite ended the day up 2.0%.
The Dow Jones Industrial Average rose by more than 1.5%.
The recovery was partly driven by a strong earnings report from JPMorgan Chase, which posted $5.07 EPS on revenue of $45.31 billion, exceeding analysts' expectations. However, JPMorgan CEO Jamie Dimon warned of 'significant turbulence' ahead due to ongoing macroeconomic instability.
Meanwhile, gold has risen to a record high, surpassing $3,200 as investors seek safe assets.
Bitcoin tests $84,000 as the market anticipates a reversal
Bitcoin (BTC) traded above $84,000 for a short time before settling around $83,796, rising more than 4.5% in 24 hours. Despite recent volatility, BTC appears resilient in the face of economic and political uncertainty.
The tariff standoff between the U.S. and China remains a key market factor. President Trump recently suspended most global tariffs for 90 days while increasing tariffs on Chinese goods to 145%, prompting Beijing to respond with 125% tariffs on imports from the U.S.
These fluctuations triggered a wave of volatility but also gave Bitcoin a chance to catch its breath while traders processed the geopolitical implications.
Arthur Hayes: Bitcoin is entering an 'ONLY UP' mode amid chaos in the bond market
Former BitMEX CEO Arthur Hayes believes Bitcoin is entering an 'only up movement mode', citing growing concerns in the $29 trillion U.S. Treasury bond market.
The yield on 10-year Treasury bonds rose to 4.59%.
The bond market experienced its sharpest weekly drop since 2019.
The U.S. Dollar Index (DXY) fell below 100 — the worst figure in the last two years.
"If the situation continues to develop, we will receive more policy responses this weekend," Hayes wrote on Twitter.
"We are going to switch to a ONLY UP mode for $BTC."
These sentiments align with traders now predicting three to four rate cuts from the Federal Reserve by the end of the year — a historically optimistic scenario for Bitcoin.
BTC target prices: $100k already in sight?
Amid the weakening U.S. dollar, several crypto analysts predict potential parabolic growth:
Prominent analyst Venturefounder pointed to the decline of the DXY as a leading indicator for Bitcoin's rise, which could push the price to $100,000 if the index continues to rise towards 90.
John Bollinger, creator of the Bollinger Bands, noted that Bitcoin is forming a bullish bottom around $80k, confirming the potential for further growth.
Meanwhile, technical analysis shows that BTC is forming a descending wedge — a bullish reversal pattern. According to Cointelegraph and Glassnode, a breakout above $84K could lead to $96K, while long-term targets could reach $130,000–$140,000 by mid-summer.
Macroeconomic volatility fuels optimism regarding BTC
With rising bond yields, expectations for inflation data, and instability in trade policy, Bitcoin is increasingly seen as a hedge against macroeconomic uncertainty. Whether the $84,000 level becomes the next launch pad or a resistance zone depends on upcoming data and policy responses, according to Cointelegraph.
Key levels to watch:
Immediate support: $80,000
Resistance: $84,000, then $96,000
Long-term target: $100,000+, if
bullish momentum will remain
