Bitcoin has factored in a modest price increase of 3.31% in the last 24 hours.
The cryptocurrency has been struggling to break resistance at the $80K range for several weeks. The crypto market pendulum has decided to swing towards the bullish end in the last 24 hours. Leading cryptocurrencies have begun to show a price recovery following a significant downfall. Meanwhile, while the Tariff war has paused, the crypto regulatory sector has sprung into action.
Notably, in the last 24 hours, the largest cryptocurrency, Bitcoin has factored in a modest price increase of 3.31%. This has aided BTC to once again raise to the $83,000 level after yesterday’s brief visit to the $80K support.
Moreover, on Monday, for the first time in 2025, the digital asset fell to the $70K level causing an uproar in the community. Although analysts had predicted it earlier, members still expressed FUD during the crash.
Following this, over the past week, Bitcoin has regained its previous consolidation at the $80K range. The cryptocurrency is currently struggling to break its $83K resistance as depicted by its daily chart. BTC tested an intra-day high of $84,067 before correcting to current levels. At the time of writing, Bitcoin was trading at $83,314.01 as per CMCdata.
Will Bitcoin Cross $90K Anytime Soon?
On analyzing its technical indicators, Bitcoin shows positive signals. The Chaikin Money Flow (CMF) indicator value stands at 0.12. This suggests an increasing inflow of capital into the digital asset thus indicating positive movements in the coming days.
Further confirming this statement, the RSI value stands at 59.40 as per TradingView data. This highlights a neutral market sentiment in the cryptocurrency. If Bitcoin prices in these positive signals, it can be expected to break the $80K resistance and move upwards soon.
However, market analyst Ali has identified a W channel pattern in Bitcoin’s recent price movements. He predicts that this ‘W’ could be followed by an ‘M’ meaning two upward movements with a price plunge in the middle.
Meanwhile, within the altcoin sector, tokens such as Magic Eden and JASMY showed significant upward movements in the last 24 hours.