Bitcoin price held firmly above the key $80,000 psychological support on 
Tuesday after hotter-than-expected U.S. CPI data briefly triggered volatility 
across risk assets, with bulls now attempting to regain momentum toward the 
$85,000 region. According to data from crypto.news, Bitcoin…

Bitcoin bulls defend $80K support after hot U.S. CPI report, will BTC reclaim $85K?

The prolonged disruption in oil output could exacerbate global energy 
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OPEC oil output falls to multi-decade low in April due to Hormuz disruptions

As Bitcoin (BTC) attempts to hold $80,000 as support, some market analysts 
have warned about a crucial resistance area that could make or break the 
flagship crypto’s bullish rally. Related Reading: Crypto Funds Extend Six-Week 
Streak With $858M Inflows On CLARITY Act Progress Bitcoin Bull Rally Meets Key 
Resistance In a Tuesday analysis, market watcher Ali Martinez highlighted a 
“crucial resistance barrier that has the potential to put an end to the recent 
Bitcoin bull rally” that has sent the price to its highest levels in months. 
He explained that BTC has been attempting to clear the 200-day Simple Moving 
Average (SMA), near $82,500, for three consecutive days. A breakout above this 
level could trigger a rally toward the $94,000 area, Martinez affirmed, while 
a rejection could send the price to retest the 50-day SMA around $75,000. 
However, the failure to reclaim this level may suggest that the market “is 
struggling to find the follow-through volume needed for a breakout.” The 
analyst pointed out that a recent shift in miners’ behavior could reinforce 
the resistance area above. Over the past month, Bitcoin miners have been 
steadily taking profits, offloading over 3,400 BTC they’ve held since the 
$72,000 range to cover operational costs or lock in gains at the recent highs. 
“This added supply could strengthen the overhead resistance,” he affirmed. 
Meanwhile, retail and futures traders are “aggressively increasing their risk 
appetite,” with the Estimated Leverage Ratio currently at a yearly peak, 
indicating an overextended market reliant on borrowed funds. Most of this 
leverage is skewed toward long positions, creating liquidation walls at 
$75,000, $73,000, and $70,000, Martinez added, warning that if Bitcoin can’t 
flip the $82,500 resistance into support, “the market may look to flush this 
leverage by testing those lower levels.” BTC Poised For Another Correction? 
Analyst Rekt Capital offered a macro perspective, suggesting Bitcoin may fail 
to reclaim the crucial resistance and fall to new lows in the coming months. 
He highlighted BTC’s breakdown from its macro triangle base around $82,500, 
which has sent the price retest the 50-month EMA. Historically, when Bitcoin 
breaks down from its macro triangle, the price retests its 50-month EMA as 
support and briefly bounces before dropping toward its bear market bottom. “On 
this occasion, (…) we’ve rebounded already. But history suggests that this 
rebound is going to be limited, and we&#8217;ll be losing the 50-month EMA as 
support and then turning it into resistance to transition into a cluster 
beneath it,” the analyst affirmed. Rekt Capital also emphasized that the 
50-month EMA roughly aligns with the 2021 all-time high (ATH), which was a 
major resistance-turned-support area around the early 2024 ATH rally and 
opened the door to the 2025 run toward its latest ATH. Related Reading: 
Something Shocking Just Happened To The XRP Price, Analysts Are Using It To 
Make A Bold Prediction As Bitcoin retests this area as support once again and 
faces strong resistance around the macro triangle base, the analyst asserted 
that this rebound may be weaker, adding that history suggests the 50-month EMA 
support will likely be lost and turned into resistance. “That’s pretty 
compelling evidence to support the weaker rally thesis as well, because if we 
do reject from the confluent region of resistance, which is the macro 
downtrend and the macro triangle base, then indeed this rally (…) will be a 
lot lesser than the magnitude of that rally that we saw in 2024,” he 
concluded. Featured Image from Unsplash.com, Chart from TradingView.com

Bitcoin Rally At Risk: This Critical Resistance Could End BTC’s Bullish Run

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move to curb Iran&#8217;s military funding, impacting global oil markets.
The post US sanctions firms and individuals over Iranian oil shipments to 
China appeared first on Crypto Briefing.

US sanctions firms and individuals over Iranian oil shipments to China

The summit&#8217;s outcomes could reshape global crypto mining dynamics, impacting 
profitability and competition across international markets.
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markets are already placing bets appeared first on Crypto Briefing.

Bitcoin bulls defend $80K support after hot U.S. CPI report, will BTC reclaim $85K?

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