Following Donald Trump’s unexpected retreat from imposed tariffs, the price of Bitcoin (BTC) surged over 8% on Thursday, surpassing $84,000. This upward movement aligned with recent predictions by BlackRock CEO Larry Fink, who believed the tense economic conditions could create a favorable long-term investment opportunity. Bitcoin grew approximately 12% on Friday, reaching near $83,600 from a price floor of $74,700. Altcoins also showed significant growth. However, analysts suggest that price fluctuations are not over yet. Notably, from March 28 to April 10, Bitcoin deposits to Binance exchange increased from 2,419,603 to 2,435,662 units. This recent influx to Binance exchange, totaling around 16,000 Bitcoins valued at $1.34 billion, indicates selling pressure and market anxiety. Nevertheless, some analysts do not necessarily see these transfers as bearish signals. From a technical perspective, Bitcoin is currently facing a resistance level at $88,800. Crossing this level with high volume could pave the way for a rise to $100,000. Otherwise, a correction to the support level of $73,500 is possible.
