Bitcoin (BTC) is hovering near $82,000 on Thursday after rebounding sharply from weekly lows, sparking debate among traders: Is this a genuine reversal—or merely a classic dead-cat bounce?
The recent bounce in BTC came on the heels of a market-wide rally triggered by U.S. President Donald Trump’s surprise 90-day pause on reciprocal tariffs for non-retaliating nations. This political pivot eased investor anxiety and helped lift Bitcoin from a fresh 2025 low of $74,508 hit earlier in the week.
BTC surged over 8% on Wednesday, briefly touching $83,588 before settling near $82,600. That rebound triggered $589 million in liquidations across crypto, with $374 million wiped from short positions alone, according to data from Coinglass.
Despite the price surge, the appetite from institutional investors appears to be dwindling. U.S.-listed spot Bitcoin ETFs saw a net outflow of $127.12 million on Wednesday, pushing the week’s total outflows past $562 million, as per SoSoValue data. This pullback suggests large players are cautious, even amid bullish technical setups.
On-chain analytics from Glassnode paint a more nuanced picture. While realized losses have mounted—peaking at $240 million in a 6-hour window—the intensity of selling has gradually diminished. This pattern often signals that a phase of seller exhaustion is forming, which could pave the way for price stability in the short term.
Analysts also identify the $65,000–$71,000 region as a critical long-term support zone. A breakdown below this could deal a blow to investor confidence, especially as most active wallets would be holding BTC at a loss.
As of Thursday, Bitcoin is trading around $82,000, facing two potential paths:
BTC’s rejection from the $85,000 resistance earlier this month still looms large. The Relative Strength Index (RSI) sits near 47, sloping downward after failing to clear the neutral 50 zone—an indication that bearish momentum might return. A decisive move lower could see BTC retest support at $73,072, and potentially even revisit its YTD low.
On the bullish side, if Bitcoin can build on Wednesday’s momentum and breach the confluence zone of resistance at $85,000—where a descending trendline and the 200-day EMA converge—it may unlock the next leg up. A clean breakout above that could see BTC targeting the psychological $90,000 handle and possibly the March high of $95,000.
Aside from technical cues, traders are keeping an eye on macro variables like a weakening Chinese Yuan, which could spark increased capital flight into crypto as a hedge. Historically, such currency pressure has buoyed Bitcoin.
Bottom Line:
Bitcoin’s near-term direction hinges on how it navigates the $85,000 resistance zone. Whether bulls are ready to break free or if this is just a relief rally in a broader downtrend remains to be seen—but for now, traders are bracing for a pivotal move.
Stay Updated with Daily Forex Pakistan.
Explore how Bitcoin’s long- and short-term cost basis helps identify market tops, bottoms, and investor…
The Japanese Yen remains stable amid mixed economic indicators, while USD/JPY shows signs of downside…
Divergences can hint at market shifts but aren’t standalone trade signals. Learn how to apply…
EUR/USD remains firm around 1.1700 as worries over Fed independence weigh on the US dollar,…
Bitcoin bounces back as Ethereum network activity increases, while Pi Network faces mounting pressure amid…
Gold and silver prices hold steady as markets await the upcoming US PCE inflation data…
View Comments
Cheers, Ample knowledge!
casino en ligne fiable
Terrific facts, Appreciate it.
casino en ligne
Very well voiced certainly. !
casino en ligne francais
Whoa loads of very good information!
casino en ligne fiable
Really a good deal of beneficial advice!
casino en ligne France
Regards! Useful information!
casino en ligne
Thanks a lot. I appreciate this!
casino en ligne francais
Cheers! Terrific information!
casino en ligne
You actually reported it exceptionally well.
casino en ligne
You explained that really well!
casino en ligne francais