Bitcoin is encountering a potential price ceiling at the $84,000 level, according to a recent report from CryptoQuant. The on-chain analytics firm noted that while Bitcoin has shown signs of recovery following recent market volatility, its ability to sustain upward momentum depends heavily on the re-emergence of stronger bullish conditions. Without renewed market optimism, Bitcoin could consolidate in the low $80,000 range in the short term.

As of April 10, Bitcoin was trading around $79,474, reflecting a 3.5% daily drop, based on CoinMarketCap data. Despite a strong rally earlier in the month that briefly pushed prices above $85,000, the digital asset saw a sharp retracement to $76,000 by April 8. The decline was largely influenced by geopolitical tensions and shifting economic policies, particularly former U.S. President Donald Trump’s aggressive stance on global tariffs.

On April 2, Trump announced a sweeping tariff hike, uncertainty in traditional and crypto markets alike. However, this bearish sentiment eased when he unexpectedly paused the tariffs for 90 days—excluding China, where the duties were raised to 145%. This decision helped restore confidence across financial markets, prompting a swift rebound in Bitcoin prices. On April 9, Bitcoin surged nearly 9%, retesting the $83,000 level and recovering most of its earlier losses.

According to CryptoQuant, the $84,000 zone now stands as a key resistance level. These levels previously acted as support during the ongoing bull cycle, but in the absence of renewed buying pressure, they could now act as barriers to further gains. If Bitcoin manages to decisively break through this resistance, the next significant price ceiling lies at $96,000.

Despite the cautious outlook, some industry voices remain optimistic. Abra Global CEO Bill Barhydt suggested that Bitcoin could surpass its previous all-time high of $109,000 within months, potentially reaching between $130,000 and $140,000 by the end of June. He attributed this projection to the sharp rise in the global money supply and the parallel surge in tech stocks, positioning Bitcoin as a leveraged play on technology-driven growth.

This bullish sentiment is echoed by Real Vision’s chief crypto analyst Jamie Coutts, who previously stated that the market may be underestimating Bitcoin’s capacity to set new highs before the end of the second quarter. However, CryptoQuant’s Bull Score Index paints a more restrained picture. Currently, only one out of ten key bull signals remains active—Bitcoin’s position above its 365-day moving average.

The index shows Bitcoin is in its least bullish phase since November 2022, suggesting that investors should wait for clearer indicators of market strength. CryptoQuant emphasized that the coming weeks will be crucial for determining whether Bitcoin’s bullish signals begin to reappear and whether it can overcome the resistance levels currently capping its growth.

In the short term, Bitcoin’s ability to maintain momentum above the $84,000 level could serve as a crucial litmus test for the overall market sentiment. This price point not only marks a technical resistance zone but also reflects a psychological barrier for traders and investors. A sustained breakout above this level would likely signal renewed bullish strength, potentially inviting a wave of fresh buying interest from both retail and institutional players. On the other hand, failure to break through—or a rejection from this level—may indicate that the current rally lacks the conviction needed to push higher, leading to sideways trading or a short-term correction.

Without stronger bullish confirmation, such as increased trading volume, positive macroeconomic news, or the activation of more bull signals tracked by CryptoQuant’s Bull Score Index, Bitcoin may continue to consolidate between $76,000 and $84,000. This range-bound movement could frustrate short-term traders but may also build a foundation for a more stable, long-term climb. Meanwhile, macro factors like U.S. fiscal policy, changes in interest rates, and broader stock market performance—especially in tech sectors—will likely influence Bitcoin’s next move. Despite short-term uncertainties, many analysts maintain a bullish long-term outlook, projecting potential new all-time highs if momentum strengthens in the coming weeks.