April 22, 2025 – DailyForex.pk
Bitcoin (BTC) held strong above $84,500 on Friday, signaling growing confidence among crypto investors despite recent stock market turbulence. Fresh US Jobless Claims data, which came in better than expected, and rising political pressure for rate cuts are shifting market sentiment in Bitcoin’s favor—potentially setting the stage for a move toward $90,000.
💼 Labor Market Strength Fuels Bitcoin Optimism
The US Department of Labor reported 215,000 Jobless Claims for the week ending April 12—4% below market forecasts and 9,000 fewer than the prior week’s 224,000 figure.
This resilient job market, coupled with President Trump’s renewed call for interest rate cuts, has supported risk-on sentiment in crypto markets. Trump argued that the economy could absorb rate cuts without stoking recession fears, especially as tariff tensions escalate.
While traditionally strong labor data would prompt caution from the Federal Reserve, Trump’s push to mirror the European Central Bank’s aggressive easing may sway sentiment toward early policy accommodation.
📉 BTC vs S&P 500: Investors Rotate Out of Stocks into Bitcoin
Following Trump’s April 2 “Liberation Day” tariff announcement, Bitcoin has significantly outperformed the S&P 500, as investors seek refuge from stock volatility.
- BTC price divergence from the S&P 500 dropped from 0.16% to 0.083% in just over two weeks
- This equates to a 48.1% stronger performance by BTC compared to major US equities
With high-profile names like Nvidia (NASDAQ:NVDA) announcing a $5.5 billion tariff-related charge, investor capital is increasingly rotating into Bitcoin as a hedge against growing macro and trade risks.
BTC’s stability near $85,000—even as tech stocks corrected—further underscores its emerging role as a safe-haven asset.
📊 Bitcoin Technical Forecast: Bullish Momentum Builds
- BTC/USD Current Price: $84,532
- Key Resistance: $84,900 (recent high)
- Next Target: $87,000
- Support Zone: $84,100 (Chande Kroll Stop) → Below that: $77,892
The Balance of Power (BBP) indicator has flipped green at 2,395.85, signaling a transition from selling pressure to buyer dominance.
As long as BTC maintains support above $84,100, momentum favors a bullish continuation toward $87,000. A daily close above $84,900 would likely confirm further upside potential.
However, a drop below $84,100 may open the door for a correction back to $77,892, though current indicators suggest this scenario remains less likely.
📌 Conclusion: BTC Bulls Eye $90K as Labor Data, Tariffs, and Fed Pressure Align
Bitcoin’s resilience amid macroeconomic headwinds and weak stock market sentiment is fueling bullish conviction. With strong labor data supporting risk appetite, and political calls for the Fed to ease monetary policy, Bitcoin remains in a favorable technical and fundamental position.
📈 Keep an eye on:
- Fed statements and rate outlook
- Further US tariff announcements
- S&P 500 vs Bitcoin divergence trends
- US economic data (PMIs, inflation, labor)
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