Bitcoin’s Wild Ride: Could $90K Be Just Around the Corner?

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Welcome, crypto lovers, to the US Morning Crypto News Briefing—your one-stop shop for everything that’s happening in the world of digital gold today. Grab your coffee, buckle up, and let’s dive into Bitcoin‘s price drama, shall we?

Now, what’s the latest gossip on Bitcoin’s (BTC) price? Experts seem to be chomping at the bit about what’s next. Spoiler: It involves a lot of “breakout” talk and the hope that Bitcoin might, just might, finally hit that $90,000 mark. But hey, don’t hold your breath. Or do. It’s 2025, anything’s possible.

So… Is Bitcoin Really Going to Break $90,000?

Well, here’s the thing: crypto markets are still reeling from a fun cocktail of Trump-induced chaos and some delightful volatility. Because nothing says stability like a reality TV star running for president again, am I right? 💁‍♀️

On top of that, we’ve got the Fed chair, Jerome Powell, telling us he’s not cutting rates anytime soon. Thanks, Jerome. That’s like a wet blanket on any hopes of a quick recovery. And if that wasn’t enough, China’s also liquidating seized crypto to fund their economy. Yeah, because that always ends well.

As for Bitcoin? It’s like that one friend who’s just not sure whether to be the life of the party or sit in the corner, swiping on their phone. Right now, it’s stuck between $80,000 and $90,000, like a kid stuck in a middle seat on a cross-country flight. ✈️

But wait, don’t start crying into your coffee just yet! Analysts are still waving their magic wands and predicting a possible breakout. Valentin Fournier from Blockhead Research Network (I know, *so* official-sounding) says we’re likely in an “accumulation phase,” which is a fancy way of saying, “hold on tight, there might be more dips before we hit the big leagues.” 🙄

“Our base case remains an accumulation phase, with occasional dips likely before Bitcoin can make a clean break above the $89,000–$90,000 resistance,” Fournier explained. So… get comfy with the rollercoaster ride, folks.

The Wyckoff Price Cycle—yes, it’s a thing, and yes, it’s exactly as exciting as it sounds—describes market trends in four phases. Try not to get too caught up in the jargon:

  • Accumulation: Smart money buys at low prices (aka your chance to buy the dip)
  • Markup: Prices start to rise—let’s get that party started!
  • Distribution: Smart money sells at the peak (yep, they’re cashing out while you’re still holding on to your bag)
  • Markdown: Prices go down, and you cry a little inside (don’t worry, you’re not alone)

Fournier also dropped some truth bombs, saying that Bitcoin dominance is on the up and altcoins might just be playing catch-up for a while. Basically, it’s like the high school popularity contest all over again. 🏆

And if that’s not enough drama for you, remember that the good ol’ US-China trade tensions are continuing to throw a wrench in the works. Like, seriously, when will this ever end?

“This is highlighted by Nvidia’s decline following new export restrictions on chips to China,” Fournier adds. Oh, the humanity!

What’s the Deal with Options Data?

Now, let’s talk options. Sounds thrilling, doesn’t it? Tony Stewart from Deribit seems to think that Bitcoin’s future is looking more “bullish” than not, with traders putting their money on a $90,000 to $100,000 breakout. But… don’t get too comfortable. There are still the bears out there buying $80,000 Puts and selling $100,000+ Calls. Can we just stop with the mixed signals already? 🙄

And then, there are the more confident bulls rolling up positions from $84,000 to $90,000 Calls. Yeah, they’re betting Bitcoin’s about to moon. 🚀

Charts of the Day (Because We Love Charts, Right?)

Traders are frantically analyzing the charts like a caffeine-addicted detective trying to solve a crime. They’re looking for price action, volume, and market structure to figure out when to enter or exit. It’s like playing chess but with a lot more screaming at the screen.

Crypto Equities Pre-Market Overview (Because Why Not?)

Company At Close April 16 Pre-Market Overview
Strategy (MSTR) $311.66 $315.50 (+1.31%)
Coinbase Global (COIN) $172.21 $174.10 (+1.10%)
Galaxy Digital Holdings (GLXY.TO) $15.58 $15.15 (-2.69%)

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2025-04-17 17:59