Quickly understand the history and background of various well-known coins

Bitcoin Surges 20% In Two Weeks, Faces $90,000 Resistance

Coin WorldTuesday, Apr 22, 2025 9:57 am ET

2min read

Bitcoin (BTC) surged above $89,000 on April 22, marking its highest level since early March, driven by robust spot demand during US trading hours on April 21. However, the rally encountered significant resistance at the $90,000 mark, with sell-side liquidity posing a substantial barrier to further gains.

Data from Cointelegraph Markets Pro and TradingView indicated that the price had been steadily climbing towards the $89,000 level over the preceding six hours, raising questions about whether the $90,000 barrier would finally be breached.

Popular trader Daan Crypto Trades noted that Bitcoin was approaching the critical $90,000-$91,000 horizontal area, which had previously acted as a range low. The trader explained that the price had swept the $89,000 level as it consolidated below it, with the 200-day simple moving average (SMA) located just above this level, reinforcing its significance. Daan Crypto Trades emphasized that overcoming these barriers would confirm a breakout, stating that a few percentage moves could push the price through all resistances, making the chart look promising for bulls.

CryptoQuant’s head of Research, Julio Moreno, highlighted that the real test for Bitcoin bulls would be the traders’ onchain realized price between $91,000 and $92,000. According to Moreno, the traders’ realized price typically acts as resistance during bearish market conditions, which is the current situation for Bitcoin.

Traders are expressing caution as Bitcoin approaches the $90,000 mark, warning that the rally may stall at this level. The recent surge in Bitcoin's price has been driven by renewed interest in safe-haven assets and the 3.125 BTC halving anniversary. However, traders are cautious about the potential for resistance at the $90,000 level, which could slow down the upward momentum.

The technical outlook for Bitcoin suggests that the price could face significant resistance at the $90,000 mark. Traders are closely monitoring key resistance levels, and a failure to decisively break and hold above the $91,000 mark could maintain pressure on the market. This resistance level has been identified as a critical point where the price could stall or even reverse, according to analysts' forecasts.

The recent rally in Bitcoin's price has been impressive, with the cryptocurrency leaping from fresh yearly lows near $74,500 to flirt with the $90,000 mark over the past fortnight. This surge has been driven by a combination of factors, including renewed interest in safe-haven assets and the 3.125 BTC halving anniversary. However, traders are cautious about the potential for resistance at the $90,000 level, which could slow down the upward momentum.

The market is forming a mini base, which is a positive sign, but liquidity has been low. This could indicate that the market is consolidating before the next move, but it also means that there is less buying power to push the price higher. Traders are closely monitoring the market for signs of a breakout or a reversal, and the $90,000 level is seen as a critical point where the price could stall or even reverse.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.