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Bitcoin (BTC) Price: Weekly Gain of 5% Pushes Cryptocurrency Toward $88,000 Level
- Bitcoin has climbed nearly 5% in the past week, reclaiming key support levels and pushing toward the $88,000 mark.
- BTC needs weekly closes above $88,400 and $93,500 to end its downside deviation period, with analysts suggesting a potential 8-14% jump on reclaiming $90,000.
- GameStop has approved adding Bitcoin to its treasury reserves, leading to an 8% surge in the stock.
- President Trump's Global Reciprocal Tariffs decision on April 2 could impact Bitcoin's price movement.
- Analysts are optimistic about Bitcoin's momentum for a break above the $88,000-$90,000 support zone, citing bullish indicators like RSI divergence and a V-shaped recovery.
- Bitcoin reclaimed the $84,000-$85,000 range over the weekend, surging 4.7% from last week's levels and eyeing the $89,000 resistance level.
- The cryptocurrency has held its range between $86,000-$88,000 support zone for the past 24 hours, with a potential jump to $95,000-$100,000 if $90,000 is reclaimed.
- Analyst Rekt Capital notes the importance of weekly closes above $88,400 and $93,500 for Bitcoin to target its Macro Range, with consolidation between key EMAs.
- Santiment warns of excessive bullish sentiment on social media, which historically precedes market corrections.
- Government and institutional recognition of Bitcoin's value grow, with GameStop including Bitcoin in its treasury reserves and states like Oklahoma embracing Bitcoin as a state treasury asset.
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