Bitcoin Breaks $85K, Could Reach $91K Soon

Written by Sahil Mahadik

Edited by Harsh Chauhan

Last Updated April 15, 2025

Disclaimer: This article is for informational purposes only, not financial advice. Crypto markets are risky. Please do your own research and talk to a financial advisor before investing. Explore our Terms and Conditions and Privacy Policy for more information.

Bitcoin at $85,631 records an intraday recovery of 1.24%. This marks a bullish continuation after a price surge of 1% on Monday.

This week, Bitcoin has created two consecutive bullish candles, surpassing the 200-day EMA line at $85,000. With this new recovery rally, is Bitcoin heading towards the $87,000 level breakout? Let’s find out.

Bitcoin (BTC) Price Analysis

In the daily chart, the BTC price trend has surpassed the local resistance trendline. Furthermore, the V-shaped recovery in Bitcoin starting from the $76,000 mark has concluded the long pullback phase.

Currently, the trendline breakout rally in Bitcoin is facing opposition from the 50-day EMA at $85,500. The bullish struggle continues as buyers struggle for an extended rally to avoid the death cross between the 50- and 200-day EMA lines.

Currently, the BTC holds the ground at the 23.60% Fibonacci level near the $83,000 mark. Furthermore, the pullback of nearly 2% on Sunday, followed by the bullish recovery, highlights a post-retest reversal from the $83,000 level.

As the recovery trend gains momentum, the MACD and signal lines give a positive crossover. Additionally, the new wave of bullish histograms in the momentum indicator reflects a high possibility of a bullish extension.

The uptrend is aiming to challenge the 100-day EMA close to the 38.20% Fibonacci level at $87,673. This stands as the immediate resistance in the Bitcoin price recovery.

In case of a bullish breakout, the uptrend will likely scale to the 50% Fibonacci level near $91,201. On the flip side, the crucial support remains at the $83,000 mark, coinciding with the 20-day EMA line.

Institutional Support Resurfaces For Bitcoin

Days after the 90-day pause in the direct war, the U.S. institutional support is resurfacing for Bitcoin. On April 14, the daily total net inflow of U.S. Bitcoin spot ETFs stood at $1.47 million, while most of the ETFs remained on the sidelines.

The seven-day streak of consecutive outflows ends in Bitcoin spot ETFs. Currently, the Bitcoin ETFs hold a net total of $94.69 billion.

Whales Added Up $467M BTC Yesterday

As per the recent tweet by IntoTheBlock, $467 million worth of Bitcoin was withdrawn from exchanges yesterday. This marks a significant level of accumulation by major investors.

As the accumulation spree begins, the inflated demand for Bitcoin is likely to pump up the market crisis.

Written by Sahil Mahadik

Sahil Mahadik is a market writer at CryptoNewsZ with over three years of experience. He tracks price action and market trends in the crypto world. His work has appeared in major outlets like Pepper Content. Sahil specializes in technical analysis. He uses tools like on-chain data and chart patterns to find trading signals. He is also covering long-form price predictions. Sahil writes popular guides on the best altcoins to invest in and top crypto picks for long-term growth. As an active trader, he uses his hands-on experience with DeFi tools and exchanges to give readers simple, data-backed advice.