Bitcoin’s been stuck in a tight range between $82,000 and $86,000, even as macroeconomic tensions have finally started to ease after weeks of uncertainty.
With Bitcoin staging a comeback, the total crypto market capitalisation has also bounced back, recovering roughly 5% over the weekend to settle near the $2.8 trillion mark on Monday.
Altcoins continued to lag as trader interest remained low, with meme coins and a few large-cap tokens leading the charts.
Market sentiment, while improved from last week’s extreme fear levels, still dropped by around 14 points as bulls struggled to break past the $85,000 resistance.
Will the Bitcoin price go up?
The key reason that is currently dictating the market sentiment remains the discussions around US technology tariffs and the uncertainty surrounding them.
Bitcoin saw a brief rally on April 11 after President Trump announced tariff exemptions for tech products like semiconductors, smartphones, and computers.
The news initially lifted market sentiment, especially since crypto mining and blockchain infrastructure rely heavily on global tech supply chains.
However, that optimism faded quickly. Just two days later, Commerce Secretary Howard Lutnick clarified that the relief was only temporary.
President Trump later confirmed that actual tariff rates would be announced next week, adding that there could be flexibility for some companies.
Lack of clarity means any sharp move in Bitcoin’s price is on hold, at least until there’s more transparency on what these tariffs will actually look like and how they’ll impact the broader tech ecosystem tied to crypto.
On Myriad Markets, a prediction platform, traders aren’t fully convinced of an immediate breakout either; only 52% expect BTC to remain above $85,000 by Wednesday’s close, reflecting the broader uncertainty surrounding tariff developments.
Source: Myriad Markets.
Looking at the daily Bitcoin charts, Bitcoin seemed to be pushing up against the lower boundary of the Ichimoku Cloud, a widely used indicator that maps out potential support and resistance zones.
Right now, that cloud is acting like a ceiling, capping Bitcoin’s upside around the same $85K level that’s been a problem since early February.
The last two times Bitcoin got rejected at this level, most recently on April 2 and earlier on February 21, it resulted in sharp pullbacks, both of which dragged BTC all the way down to around $75,000. See below.
That makes the current setup tricky for bulls. While there’s growing interest in long positions in the options market, the proximity to this cloud resistance means the risk-reward isn’t exactly favourable.
Bitcoin needs to decisively close above $85,679. A daily close above this level would mean breaking out of the cloud, which is typically seen as a bullish confirmation in Ichimoku analysis.
Some market analysts, however, see signs of growing strength.
Prominent commentator Rekt Capital highlighted that Bitcoin had flipped its multi-month downtrend line into support for the first time after several failed attempts earlier this year. See below.
Bitcoin has successfully retested the multi-month Downtrend as support for the first time
If the retest holds, it may help Bitcoin build momentum to challenge the $85,679 resistance and break above the Ichimoku Cloud.
However, for a bullish confirmation, $90K remains the key resistance that needs to be broken, according to fellow analyst DonAlt.
He pointed out that if Bitcoin manages to clear the $90,000 level, a key psychological resistance level, especially alongside a more dovish stance from the White House on tariffs, it could trigger what he described as a “full send.”
>$90k and we full send as long as the white house chills a lil bit
Generally if Trump walks his tariffs back now that it looks like they’ve largely failed I’d expect a full send here, just even more sure of it if we cross $90k
Amid this backdrop, long-term targets for Bitcoin remain well above $100K. For instance, Strategy founder Michael Saylor said over the weekend that Bitcoin could be gearing up for a run toward $125,000.
At the time of writing, Bitcoin had erased most of the day’s gains, trading at $84,102, up just 0.4% on the day.
Altcoins post modest gains
Over the past 24 hours, the altcoin market cap dropped by 0.9%, sitting at around $1.1 trillion at the time of writing.
The Altcoin Season Index is at 15, which means only 15 of the top 100 altcoins have outperformed Bitcoin recently, so it’s still very much Bitcoin season, and its moves are driving most of the action in the altcoin market.
Ethereum (ETH), the biggest altcoin, jumped 4.9% in the last day and is now trading at $1,658.
Other major altcoins like XRP, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) also saw modest gains of about 1–3%.
Among the top 100 coins, Fartcoin (FARTCOIN) led the pack with 8.7% gains, followed by Decentraland (MANA) and Flare (FLR), also rising 6.4% and 5.4%, respectively. See below:
Source: CoinMarketCap
However, some analysts say the altcoin market cap has formed a falling wedge pattern on the charts, a setup that could lead to a major altcoin rally if the breakout is confirmed.
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