The Bitcoin (BTC) market remains steady, with no significant price breakout after another trading week. As market analysts ponder over Bitcoin’s next move, notable crypto expert Ali Martinez has pinpointed two key resistance zones that could determine the fate of the next crypto bull run.
Over the past month, Bitcoin has had a hard time sustaining a steady rise, with investor uncertainty playing a significant role. Notably, the leading cryptocurrency has faced multiple rejections at the $85,000 and $88,000 resistance levels. In a recent analysis, Martinez outlined two resistance zones critical to a potential Bitcoin bull rally, using on-chain data from IntoTheBlock.
The first resistance zone lies at $85,470, marking the upper limit of a price barrier starting at $83,023. Approximately 1.13 million wallet addresses have traded 607,200 BTC within this price range, indicating a robust historical activity that may trigger significant selling pressure at these levels.
The next resistance zone is at $92,950 – the lower boundary of another price ceiling that extends to $95,514. This zone has seen less investor activity, with 795,830 active wallet addresses. However, this range has seen about 627,410 BTC traded, suggesting its potential market impact could be substantial.
If Bitcoin can successfully navigate these resistance zones, Martinez suggests that the premier cryptocurrency could initiate a prolonged uptrend and resume its bull rally. However, the Bitcoin bulls must guard against any price drop below the significant support zone at the $80,450 price level. This level marks the lower limit of a key support zone, extending up to $82,907, with around 516,770 BTC changing hands between approximately 738,580 active wallet addresses.
In other news, IntoTheBlock also reports that Bitcoin network fees have fallen by 57.3% over the past week, indicating a decrease in user engagement and general investor activity. Meanwhile, Bitcoin has only shown a minor 0.11% decline in price during this period.
Following the recent announcement of new US tariffs on imports, Bitcoin and the broader crypto market have responded more positively than in previous tariff-related news. Ryan Rasmussen, Head of Research at Bitwise Invest, notes that Bitcoin has risen by 2.2% since the announcement on April 2, contrasting with significant losses in traditional stock markets, with the “Magnificent Seven” falling by an average of 12.18%.
