Bitcoin Price Prediction – BTC Likely Headed to $90K Soon 

Highlights:

• Bitcoin is starting to consolidate after weeks of high volatility
• Consolidation could precede a breakout as selling volumes drop
• Influential voices supporting Bitcoin could help drive bullish sentiment

Bitcoin is relatively stable today. It trades at $84,537, a marginal 0.36% increase in the day. Trading volumes have also dropped in the day, down 19.10% to $20.65 billion. This suggests that holders are not trading and could be anticipating higher prices in the future. 

Gary Gensler Joins Bitcoin Maximalist Voices – Big In Shaping Sentiment

Influential figures are increasingly calling for “Bitcoin, not crypto”, as was evident when President Trump announced the cryptocurrency strategic reserve. The notion is picking up steam, as evident in the recent interview of Gary Gensler, previously the chairman of the SEC.

Gensler argues that BTC is far superior to the flimsy USD-pegged cryptocurrencies that are not backed by anything. Gensler remarked that ‘most other coins do not have real value.’ Such sentiments could shift retail and institutional investors’ perceptions in favour of Bitcoin in the long term.

Bitcoin Price Consolidation Points to Strengthening Support

The Bitcoin price pattern also points to a possible rebound. Following an earlier correction, Bitcoin appears to be consolidating around the $84k price. This could indicate a potential rebound, especially as on-chain data indicates more investors are buying Bitcoin. Analysts are also pointing to rising bullish sentiment around Bitcoin. 

According to crypto analyst Avocado Onchain, the ongoing Coinbase premium is a bullish indicator for Bitcoin. He notes that the metric measures the price difference of Bitcoin at Coinbase versus other exchanges globally, forming a tightening triangle pattern (lower highs with compressed higher lows). Such formations have historically indicated preceding breakouts, suggesting upside potential could be on the horizon.

Explaining further, Avocado’s pattern suggests that US-based institutional demand is recovering. In previous cycles, similar patterns have resulted in stronger price rallies, building the case that despite persistent macroeconomic uncertainty, Bitcoin could rebound long-term.

Korea Premium Index Signals Regional Divergence – Bullish for Bitcoin

The Korea Premium index, a regional market measure, is also lagging, further adding to the bullish narrative. This index tracks the gap in value between Korean exchanges and global averages, and it has trended weaker for 2024. It is starting to rise, but recently, its recovery is too little, too late. Its rise is also influenced by Bitcoin’s recovery, suggesting slower movement from Korean retail investors and pointing toward a change in the region’s market leadership.

코인베이스 프리미엄은 시장 혼란 속에서 회복의 움직임을 나타내는 반면, 김치 프리미엄은 뒤쳐져 있습니다(Coinbase Premium Signals Signs of Recovery Amid Market Turmoil, While Korea Premium Index Remains Lagging)

미중 관세전쟁이 심화되는 가운데 위험자산 시장이 전체적으로 큰… pic.twitter.com/SxCTmDQjHN

— Avocado (@avocado_onchain) April 17, 2025

This divergence from the US and Korean markets is seen as critical. The US is regaining its role as the primary demand driver in crypto, which institutions mainly spearhead. This shift might indicate a change in global digital assets adoption and investment trends.

Macroeconomic Tensions Reveal Bitcoin’s Growing Resilience

Outside of the technical benchmarks, geopolitical elements are also part of Bitcoin’s current path. The escalating trade conflict between the United States and China has shown that Bitcoin can hold value in times of heightened uncertainty. While it has not held as well as gold, its price action so far could add to the store-of-value narrative going into the future. Such could play a role in its price action as bullish sentiment returns. 

bitcoin is on an undeniable uptrend vs. US stocks ever since the Tariff fear was introduced. while still a young risk asset, the romantic in me wants to think that years of prosecution pushing the industry to international markets gave it its final core strength as digital gold.… pic.twitter.com/zMoD1IgU1R

— pepe (@memitations) April 17, 2025

Technical Analysis – Bitcoin Price Bears Losing Momentum

After Bitcoin bulls lost momentum at the $85,142 resistance on April 17, bears have attempted to take control but failed. Selling volumes have dried up, an indicator that a bullish breakout could be in the offing. 

If bulls retake control and push the price through the $85,142 resistance, a rally to $90k could follow. On the other hand, Bitcoin could retest the $83,343 support in the short term if there is a sudden increase in buying volumes. 

Recap

The global markets are rattled, but Bitcoin’s resilience hasn’t gone unnoticed. For investors, explicit confirmation that the current consolidation phase could trigger a new uptrend to $90k or higher. In the meantime, Coinbase Premium and regional trading will continue serving as critical indicators to determine where the market is heading next.