In the latest Bitcoin news, the price has stalled near the $84,000 mark, leaving investors on edge as the cryptocurrency hovers about 22% below its all-time high of over $109,000 set earlier this year. Despite recovering from earlier lows, Bitcoin’s range-bound behavior signals cautious sentiment amid ongoing macroeconomic uncertainties.
Analyst Sees Patterns Mirroring 2024 Bitcoin Breakout
CryptoQuant analyst Crypto Dan recently drew parallels between Bitcoin’s current market dynamics and the correction phase of 2024. In his QuickTake titled “Cryptocurrency Market, Similar to the 2024 Correction Period,” Dan highlighted a key metric, the percentage of Bitcoin supply held by short-term holders (one week to one month). Historically, spikes in this metric have signaled speculative drama, often preceding market pullbacks.
Dan observed that this indicator has now returned to a zone previously associated with market bottoms, the same “yellow box” that marked the 2024 correction low. “Given that this ratio has now reached the yellow-box region, which was the bottom of the 2024 correction period, it seems likely that the current market will follow a similar path as the 2024 correction,” he said.
This suggests that speculative excesses have largely cooled, potentially setting the stage for renewed price growth, provided macroeconomic conditions improve. However, Dan cautioned that further consolidation might occur before a decisive trend reversal unfolds.
Whale Movements Signal Imminent Volatility
Supporting this outlook, CryptoQuant contributor Mignolet pointed to significant recent activity among mid-term holders. About 170,000 BTC shifted out of the 3–6 month holders, a move historically linked to upcoming price volatility. Mignolet explained that such shifts often precede major market moves, both upward and downward, serving as an early warning for traders to prepare for a possible Bitcoin breakout or breakdown soon.
In summary, while Bitcoin currently faces resistance near $84K and remains range-bound, key on-chain metrics and holder behaviors hint that 2025 could replicate last year’s explosive Bitcoin breakout, if the market navigates macroeconomic headwinds successfully. Traders should watch closely for a sustained move above the critical $85,000 resistance, which could trigger a fresh bullish run, or serve up some negative Bitcoin news in the near future.
Bitcoin Price Analysis: Bitcoin Breaches $85K Again
Bitcoin started trading at a price of $84,880. In the first two hours of trading, Bitcoin faced some correction and then ascended rapidly to test the $85,100 resistance. However, it could not keep the uptrend going, and a slow fall followed, taking Bitcoin to establish new support at $84,450. With the $84,750 resistance in place, Bitcoin went on to display range-bound behavior until noon. However, Bitcoin failed to form a meaningful uptrend, and at 14:00, led by a death cross at 13:00 UTC, abandoned the current support level.
Chart 1: published on TradingView, April 19, 2025
It eventually settled at a new support level of $84,350. Bitcoin continued to work in a trading range, with the $84,750 resistance still in place. However, Bitcoin’s upward movements found resistance at the $84,650 mark, as it continues to consolidate in that narrow range. At 00:30 on April 19, a golden cross formed on the MACD, and Bitcoin started scaling the charts. The resistance was broken at 3:00 UTC as Bitcoin continued to ascend to $85,250. With the market now overbought, Bitcoin faced a correction.
Bitcoin Price Prediction: Can Bitcoin Hold on Above $85K?
Bitcoin currently trades at $85,100. However, based on past performances, it is highly possible that Bitcoin will relinquish its current support of $84,900 and look to stabilize under $ 85 K. With the coin in overbought conditions right now, a correction is bound to arrive. If Bitcoin can resist a dramatic fall, we may be in for a shot at $ 86 K.
Source: Coinfomania / Digpu NewsTex