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BTC $79,001.96 -2.93%
ETH $2,218.23 -3.50%
BNB $672.04 -1.32%
XRP $1.43 -4.24%
SOL $89.16 -3.89%
TRX $0.3515 -0.55%
DOGE $0.1133 -2.91%
ADA $0.2610 -4.39%
BCH $424.86 -2.94%
LINK $10.05 -4.86%
HYPE $43.99 -0.05%
AAVE $92.60 -7.10%
SUI $1.09 -8.65%
XLM $0.1543 -5.85%
ZEC $516.34 -8.15%

ics

Analyst: Bitcoin shows "bull market characteristics" and may rise to $90,000

According to Cointelegraph, Bitcoin rose over 5% on Tuesday, reaching a daily high of $76,120, the highest level since February 6, successfully reclaiming the key support area of $75,000—where the 100-day exponential moving average and simple moving average intersect. From a technical perspective, Bitcoin broke through the upper boundary of the ascending triangle at $73,000 on Monday.Analyst CryptoBlockto stated, "Bitcoin broke through $76,000, standing above the March high, sending a bullish signal of renewed strength." He pointed out that if the daily close stabilizes above the $75,000 moving average area, it will confirm the breakout of the pattern, with the next resistance level at the psychological barrier of $80,000, and the measured target of the ascending triangle pointing to $89,050, about 18% higher than the current price. The daily RSI has now risen to 63, having previously fallen to the oversold area of 15 on February 6.On-chain data shows that the average daily number of Bitcoin transactions has increased by 62% since 2026, reaching 765,130 on April 5, a new 17-month high, comparable to the level when Bitcoin first broke $100,000 during the 2024 U.S. presidential election. Analyst CW8900 stated, "The current daily transaction count for Bitcoin is higher than when BTC was priced at $120,000, indicating that the network is exhibiting bullish behavior."Glassnode noted in its latest market report that the total fee income from Bitcoin over the past week increased by 4%, rising to $153,700, indicating "increased on-chain demand," and stated, "This growth suggests a rise in network activity and may indicate that users' willingness to increase fee spending for priority processing of transactions is changing."
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