{"id":58240,"date":"2025-04-10T12:35:47","date_gmt":"2025-04-10T12:35:47","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=58240"},"modified":"2025-04-10T12:35:47","modified_gmt":"2025-04-10T12:35:47","slug":"bitcoin-btc-still-on-track-for-200000-but-this-must-happen-first-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=58240","title":{"rendered":"Bitcoin (BTC) Still on Track for $200,000 But This Must Happen First (Analyst)"},"content":{"rendered":"

TL;DR<\/strong><\/span><\/p>\n

Bitcoin (BTC) bounced after Trump\u2019s tariff freeze, triggering predictions of a major rally to new highs.
\nOne popular analyst thinks a breakout above a key level could lead to a massive pump above $200K.<\/p>\n

<\/a><\/h2>\n

BTC Has Yet to Fly?<\/h2>\n

The primary cryptocurrency did not start the business week on the right foot, <\/span>experiencing<\/span><\/a> a <\/span>major<\/span> pullback below $75,000 after the trade war between the USA and the rest of the world intensified with the implementation of additional tariffs.\u00a0<\/span><\/p>\n

However, on April 9, US President Donald Trump <\/span>enacted<\/span><\/a> a 90-day freeze on most new tariffs. <\/span>The reciprocal rate was reduced<\/span> to 10% for over 75 countries <\/span>that have recently sought<\/span> to renegotiate better terms with America. In the aftermath, bitcoin soared<\/a> past $83,000 before slightly retracing to the current $81,800 (per CoinGecko\u2019s data).
\n<\/span><\/p>\n

<\/a>BTC Price, Source: CoinGecko<\/p>\n

The resurgence garnered the attention of numerous analysts who made optimistic predictions for the near future. The X user Ali Martinez <\/span>believes<\/span><\/a> a breakout above $86,900 could be a precursor of a <\/span>major<\/span> rally to a new all-time high of $208,550.\u00a0<\/span><\/p>\n

He <\/span>added that based on the Mayer Multiple indicator, BTC could find solid support at approximately $69,500. The metric, developed by Trace Mayer, compares BTC\u2019s current price to its 200-day moving average and helps traders determine whether the asset is overvalued or undervalued.\u00a0<\/span><\/p>\n

Another industry participant forecasting a price explosion for the leading digital asset is Merlijn The Trader. They <\/span>spotted<\/span><\/a> the potential breakout of a falling wedge pattern, suggesting a jump above $100,000 might come next.\u00a0<\/span><\/p>\n

What Are Other Indicators Signaling?<\/span><\/h2>\n

According to CryptoQuant\u2019s data, BTC\u2019s exchange <\/span>netflow<\/span> has been negative in the past month. <\/span>This<\/span> suggests<\/span><\/a> a shift from centralized platforms toward self-custody methods, which <\/span>could be interpreted as<\/span> a bullish factor since it reduces the immediate selling pressure.<\/span>\u00a0<\/span><\/p>\n

On the other hand, bitcoin inflows into Binance have increased over the last two weeks. The analysis platform <\/span>assumed<\/span><\/a> that the influx could <\/span>be connected<\/span> to investor caution in anticipation of the US Consumer Price Index (CPI) report, scheduled for release today (April 10).<\/span><\/p>\n

Such transfers may be a precursor of a possible sell-off and a subsequent price decline for BTC. Nevertheless, CPI data typically has a brief impact on the asset\u2019s price while Martinez\u2019s prediction is aimed more at the medium-term.<\/span><\/p>\n

The post Bitcoin (BTC) Still on Track for $200,000 But This Must Happen First (Analyst)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Bitcoin (BTC) bounced after Trump\u2019s tariff freeze, triggering predictions of a major rally to new highs. One popular analyst thinks a breakout above a key level could lead to a massive pump above $200K. BTC Has Yet to Fly? The primary cryptocurrency did not start the business week on the right foot, experiencing a […]<\/p>\n","protected":false},"author":0,"featured_media":58241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-58240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58240"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58240"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/58241"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}