Will Bitcoin Hit $90,000 in April? Analysts Weigh In
The post Will Bitcoin Hit $90,000 in April? Analysts Weigh In appeared on BitcoinEthereumNews.com.
As April approaches, traders are closely watching whether Bitcoin can maintain its current momentum or face another round of volatility. The leading crypto trades at $87,208, noting a 10% uptick in the past two weeks. With broader market recovery underway, BTC demand could strengthen in April, and its price could steadily recover and potentially retest the $90,000–$95,000 range. Bitcoin’s Market Bottom? Analyst Says Current Levels Signal a Bounce Bitcoin (BTC) kicked off March with strong bullish momentum, surging to a high of $96,484 by March 2. However, as market sentiment took a bearish turn, profit-taking intensified, dragging the leading coin down to a four-month low of $76,642 on March 11. Since then, Bitcoin has staged a recovery fueled by a broader market rebound and renewed demand. The coin now trades within an ascending parallel channel, a pattern that signals a gradual surge in BTC’s price as buying momentum intensifies. BTC Ascending Parallel Channel. Source: TradingView In an exclusive interview with BeInCrypto, Julio Moreno, Head of Research at CryptoQuant, confirmed this bullish outlook. “There could be a bounce for the price of Bitcoin in April, as selling pressure from traders ease,” Moreno said. Moreno assessed BTC’s Realized Profit/Loss Margin and found that it has declined steadily since the beginning of the year. When this metric falls, the overall profitability of BTC coins being spent on-chain is declining. BTC Realized Profit/Loss Margin. Source: CryptoQuant This means investors are realizing fewer profits or even taking losses, reducing their incentive to sell. Over time, this trend would gradually ease selling pressure in the BTC market, and drive up its price in coming weeks. “As the price of Bitcoin has experienced a 23% drawdown since its previous all-time high, traders will now only experience losses if they sell. This situation typically indicates less selling pressure for…
Filed under: News - @ March 27, 2025 6:28 pm