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Bitcoin has reached a pivotal moment, with nearly 90% of holders in profit, indicating one of the strongest market conditions in its history.
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Recent macroeconomic shifts, including a pause on U.S. tariffs, are creating a favorable environment for BTC to potentially break the $90,000 barrier.
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“The current market structure showcases confidence and resilience,” a COINOTAG analyst noted, reflecting the overall sentiment around Bitcoin.
This article explores Bitcoin’s current market health, key profitability metrics, and potential future movements amidst changing macroeconomic landscapes.
Current market overview
Bitcoin is currently positioned around the $85,000 mark, exhibiting remarkable stability despite minor fluctuations. The relative strength index (RSI) is at 54.85, suggesting that there is potential for upward momentum in the near future.
Source: TradingView
Market analysts highlight a bullish sentiment surrounding a possible breakout toward the key $90,000 level. Future price movements will be influenced by macroeconomic conditions, particularly developments around tariffs and broader economic trends.
Profitability near peak, even without a top
Notably, only 9.6% of Bitcoin addresses are currently registering losses. This figure is a significant deviation from previous bull cycles, indicating that the market’s current health is particularly robust.
Historical data reveals that past downturns resulted in much higher percentages of loss-making addresses, such as 84.7% in 2012 and 76% in 2015.
Source: Alphractal
Today’s metrics suggest Bitcoin is located within one of its strongest structural phases noted over the years. Interestingly, this positive profitability landscape is occurring at price levels below all-time highs, indicating that substantial accumulation has taken place.
Sentiment surge
There’s a noticeable increase in Bitcoin’s social volume, alongside a significant rise in both positive and negative sentiment metrics.
This divergence indicates heightened interest from both retail and institutional investors, indicating potential volatility. A mix of both positive and negative sentiment can often signal a buildup to significant price movements.
Source: Santiment
Interestingly, an uptick in negative sentiment shouldn’t necessarily be viewed as bearish; it could suggest capitulation or nervousness that often precedes market reversals.
What’s next for Bitcoin?
As Bitcoin approaches resistance around $90,000, macroeconomic developments play a critical role in determining the market’s trajectory. Notably, the recent decision by President Trump on April 9 to pause new tariffs for 90 days has shifted market sentiment, albeit with specific tariffs still impacting Chinese imports.
According to the WTO, global trade is projected to decline by 0.2% in 2025 due to deteriorating U.S.-China relations, posing challenges that Bitcoin traders must consider.
With inflation trends in the Eurozone also showing signs of moderation at 2.2% in March, the potential implications for European Central Bank policies could further influence Bitcoin’s next moves, making the $90,000 level crucial for traders in the coming weeks.
Conclusion
Amidst evolving market dynamics, Bitcoin’s robust profitability and increasing sentiment suggest potential for significant upward movement. Traders should remain vigilant, as macroeconomic indicators will continue to play a pivotal role in shaping BTC’s market trajectory.
