Bitcoin’s $69,000 Lifeline: This Level Could Make or Break the Market!

The Bitcoin price action has entered a critical phase, with the $69,000 level being seen by experts as a vital support zone. Bitcoin reached a high of $87,000 earlier this month. But it has since faced a pullback to $83,000, raising concerns among investors. Analysts believe that $69,000 represents a psychological and technical “last line of defense” for Bitcoin investors, as slipping below that could cause a deeper correction.

Why $69,000 Level is Important for Bitcoin Price

Crypto analyst Burak Kesmeci has identified the “Bitcoin Spot ETF Realized Price” as a key metric for this support. This indicator reflects the average purchase price of Bitcoin ETFs since their launch in 2024. In the past, the $69,000 level has acted as a strong foundation during market downturns.  Kesmeci said that maintaining this price point is crucial to avoiding an extended bearish trend. Other experts have also seconded this thesis, warning that a fall below this support could to a drop towards $65,000. 

The economic landscape of the United States adds to the pressure on the Bitcoin price. The recent introduction of tariffs had Bitcoin reeling. Even with these issues, the Bitcoin price has been stable compared to other assets. But experts also warn that the longer Bitcoin remains below $90,000, the more likely it is to drop to $69,000.

What’s Next For Bitcoin?

While the $69,000 level is vital for stability, breaking through higher resistance levels is equally important for Bitcoin to resume its upward journey. Ali Martinez, another renowned crypto analyst, pointed out that Bitcoin must go beyond the short-term holder realized price of $90,570 to cement its bull run. As of now, Bitcoin remains in a risky situation. Investors will closely watch whether it can hold above the $69,000 mark. April could determine whether Bitcoin resumes its bull run or succumbs to corrections. With that in mind, let’s take a look at the BTC price analysis and form a short-term BTC price prediction.

BTC Price Analysis: Bitcoin Holds Around $83,500, Drop Expected?

Bitcoin commenced trading around the $83,200 mark yesterday. The previous day’s uptrend had led Bitcoin to this high. Naturally, the market was overbought to begin with, as shown by the RSI. Bitcoin subsequently fell to $82,500 by 5:00 AM. With the resistance line falling and support holding steady, a bearish triangle had formed. But Bitcoin rose dramatically on the back of a strong buying trend, defying all odds and reaching $84,660. The coin faced strong resistance at this point. With the market now overbought again, Bitcoin faced a strict correction, plunging to $81,800 within two hours.  

Chart 1: published on TradingView, April 5, 2025

The EMAs continued to converge and diverge, and a golden cross sent the Bitcoin up. However, the buying pressure was inadequate, as Bitcoin fluctuated rapidly. It eventually reached $83,133 by 17:00 UTC. Half an hour later it spiked again, testing the $84,700 resistance again, but failed to break across. Another downtrend formed as Bitcoin finally found support at $83,500. With that support, Bitcoin tried to test resistance again but the buying pressure could not support the ascent, as it consolidated around the $84,300 mark.  

BTC Price Prediction: Can Bitcoin Break Past $85,000?

Bitcoin’s performance has been affected by several factors, but Bitcoin price has stabilized despite all those challenges. While worldwide interest pours in fo Bitcoin, the overall market trend is bearish. If stable buying pressure takes charge for a two hours today, Bitcoin will be able to break the $85K resistance. If it doesn’t, a short correction may be on the cards.

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