Amid the rising uncertainty in the world economic structure due to multiple factors including the Trump tariff war, Jerome Powell has taken the platform to express his thoughts on this concerning situation. However, the crypto market has reacted negatively with the Bitcoin price crashing over $2000 within minutes.
With the Bitcoin price hovering between its $83k and $85k range, investors are closely monitoring and evaluating the possibilities of the largest crypto token. Let us now understand the market trend and possible BTC price prediction for the next 24 hours!
Bitcoin ETF Displays 2 Consecutive Inflow Days!
As per the latest data, BlackRock’s “IBIT” has displayed a inflow of over $30 million for the second consecutive day, indicating a positive outlook on the institutional level. Notably, with 5 ETFs recording a positive inflow over the past day, the BTC ETF is on the path of a bullish comeback.
While 6 ETFs record a neutral flow, no ETFs has experienced a outflow during this period. With this, the total flow on 15th April concluded at +76.4 million, making it the 2nd consecutive positive day for the Bitcoin ETF.
BTC Coin Price Records A Strong Bullish Reversal!
Despite a drop of approximately 1% over the last 24 hours with a trading volume of $28.07 billion, the largest cryptocurrency has maintained its dominance over 63%. This has resulted in it exchnaging hands at $83,417 level. Moreover, the latest candle records a strong bearish pullback, suggesting a potential reversal.
The EMA 50/200-day is on the path of displaying a Golden Cross in the daily time frame. This highlights a notable rise in the buying-over-selling pressure for the price of Bitcoin in the crypto space.
On the other hand, the MACD indicator witnesses a constant decline in the red histogram. Moreover, its average trendline are on the similar path as they display a potential positive crossover in the BTC price chart. This suggests increased price volatility for it this week.
Will BTC Go Up Today?
If the market favors the bulls, this could result in the price of Bitcoin heading toward its immediate watch level of $85,000. Maintaining the price above that level could push the price toward its upper price target of $88,000 in the upcoming hours.
On the flip side, if the bears regain momentum, the BTC price could drop toward its low of $83,000. Suppose, the market experiences increased liquidation, then this token could plunge toward its lower support trendline of $81,000 in the next 24 hours.
Also Read: Whale Withdraws 1,500 Bitcoin From OKX; Why Are Whale Activities Surging?
