$100,000 Bitcoin Price Target Revived as Tariff Pause Boosts Market Confidence

Summary

• Bitcoin’s $100,000 price target is back in focus as US President Trump’s pause on new tariffs improved market sentiment and triggered a price rebound, with BTC surging toward $83,000.

• A bullish falling wedge pattern on Bitcoin’s daily chart suggests a potential breakout to $100,000 by June if it breaks above the $83,000 resistance; however, failure to break out could see a dip towards $71,100 or even $50,000 in a worst-case scenario.

• Onchain data supports the $100,000 outlook, with key support identified in the 71,000 range based on active realized price and true market mean, suggesting this level is crucial for maintaining bullish momentum and investor confidence.

On April 9th, the BTC/USD exchange rate demonstrated a robust recovery, jumping roughly 9%.

Trump’s Tariff Policy Shift Ignites Bitcoin Bullish Momentum

This surge effectively reversed most of the losses experienced earlier in the week and pushed Bitcoin back toward the $83,000 level for a retest.

This upward movement brings the cryptocurrency closer to confirming a bullish technical formation known as a falling wedge.

This pattern has been developing on Bitcoin’s daily price chart since December 2024.

Technical Pattern Suggests Potential Price Surge

A falling wedge pattern is characterized by a price decline within a narrowing range defined by two downward-sloping trendlines that converge.

This pattern typically signals a potential bullish reversal.

In an ideal scenario, this pattern resolves itself when the price breaks decisively upwards, moving above the upper trendline.

The anticipated price increase following such a breakout is often estimated to be equivalent to the widest distance measured between the upper and lower trendlines of the wedge.

As of April 9th, Bitcoin’s price movement remained contained within the boundaries of this falling wedge pattern.

Traders and analysts are closely watching for a breakout above the upper trendline, which currently sits around $83,000.

Should this breakout be validated, technical analysis suggests a primary upside target for Bitcoin, potentially achievable by June, could be approximately $100,000.

Conversely, failure to break through the upper trendline could indicate weakness.

A rejection at this level might increase the possibility of Bitcoin falling back further within the wedge.

This could lead to a downward slide towards the apex of the wedge formation, near the $71,100 mark.

Even if a breakout is delayed and occurs after a dip toward the $71,100 level, even a conservative projection still points to a substantial upside target for BTC, potentially reaching $91,500.

Onchain Data Bolsters Bullish $100,000 Outlook

Bitcoin’s recent price rebound appears to coincide with a test of a crucial on-chain support zone, situated between $65,000 and $71,000.

This correlation further reinforces the bullish narrative for Bitcoin and strengthens the case for a potential climb toward the $100,000 level.

Two key on-chain metrics significantly influence this 65,000-71,000 range: the active realized price.

These metrics are designed to approximate the average purchase price of Bitcoin held by current, active investors.

They achieve this objective by excluding coins that have remained unmoved for extended periods or are presumed to be lost, thereby providing a more refined depiction of the cost basis for participants still actively engaged in the market.

Historical Bitcoin price action shows the cryptocurrency has spent roughly equal durations above and below this price range.

This pattern makes it a valuable indicator for gauging overall market sentiment, as assessed by analysts at Glassnode.

In a recent market analysis, Glassnode experts noted the convergence of multiple on-chain price models, highlighting the $65,000 to $71,000 range as a key area where bulls need to establish firm long-term support.

They further cautioned:

“Should the price significantly fall below this range, a large majority of active investors would find their holdings underwater, likely triggering a decline in overall market sentiment.”

Downside Risks: Potential Drop to $50,000 as Worst-Case Scenario

A break below the 71,000 support zone could seriously impair Bitcoin’s chances of revisiting the $100,000 level shortly.

Such a price decrease would also result in Bitcoin falling below its 50-week exponential moving average.

Also Read: U.S. Imposes Massive Tariff Hike on Chinese Imports

*Disclaimer*: We at Bitcoinleef.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.