Bitcoin Approaches $90,000 Mark Amid Mixed Sentiment
Bitcoin is once again at the center of attention as it inches closer to the $90,000 price mark. With the digital asset currently trading around $88,000, traders and analysts are divided: is this recent price movement part of a typical correction, or could it be a bull trap that lures investors before a sharp downturn?
The renewed market interest follows a strong performance over the Easter holiday. Bitcoin reached $84,600 on Easter Sunday 2025, its highest ever on that date and a far cry from its humble beginnings back in 2009. Now, as the crypto market matures, institutional involvement and technical indicators are pointing to critical levels that could define Bitcoin’s short-term future.
Analysts are closely watching two levels: support at $83,000 and resistance between $91,000 and $92,000. These thresholds could act as turning points depending on whether the momentum continues or stalls. CryptoQuant’s Head of Research, Julio Moreno, believes that the $91K–$92K zone is a key resistance level because it matches the realized on-chain price for active traders. In previous bull cycles, this level acted as support, but in more bearish phases, it has flipped to resistance.
Bitcoin’s current behavior has yet to clearly confirm whether it’s in a sustained bull phase or just undergoing a temporary correction. According to CryptoQuant’s broader market data, the price action still resembles a typical mid-cycle correction rather than a transition into a bear market. Bitcoin’s resilience above $83,000 reinforces this argument, although the market remains cautious.
However, not all analysts share this optimistic view. Market commentator Mark Cullen has expressed concerns about the strength of the $83,000 support level. He suggests that before any breakout above $90,000, there’s a high probability that Bitcoin might dip and test lower levels first. His perspective is rooted in recent market patterns, where similar price moves resulted in a brief pullback before resuming upward momentum.
Beyond short-term concerns, the broader market outlook remains bullish. This is particularly evident in the derivatives market, where open interest and trading volume are rising. The increased demand for Bitcoin call options over puts—a measure known as the put-to-call ratio—suggests that more traders are betting on higher prices in the near future.
Notably, long-term projections remain highly optimistic. Arthur Hayes, co-founder of BitMEX, recently tweeted that current prices under $100,000 may be the last chance for investors to buy Bitcoin at a “discount.” He’s not alone. Financial educator and bestselling author Robert Kiyosaki has also reiterated his forecast that Bitcoin could reach between $180,000 and $200,000 by the end of 2025, citing concerns over fiat currency devaluation and global economic shifts.
Historically, Bitcoin has shown a pattern of strong rebounds following market corrections. In 2023, for instance, BTC fell to $27,900 during a dip but eventually surged to over $84,000 within two years. Such trends support the belief that pullbacks are natural parts of long-term growth, helping to flush out weak hands before more sustainable rallies.
Investor sentiment, as measured by the Fear and Greed Index, also plays a role in shaping market movement. A high score indicating greed often corresponds with strong buying activity. As of now, this index suggests growing confidence, adding more fuel to the possibility of Bitcoin breaching the $90,000 threshold.
Whether this is a continuation of the bull run or a short-lived rally, one thing is clear: all eyes are on Bitcoin. With institutional interest growing and market participants eagerly awaiting the next move, the coming days could be crucial in determining whether BTC climbs toward new highs or takes a step back for a deeper correction. Either way, the cryptocurrency continues to prove that it’s far from fading into the background.
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