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Highlights
- Bitcoin price rebounds 2% on Tuesday, reclaiming $84,400 amid renewed institutional demand and increasing ETF flows.
- Blackrock’s IBIT ETF records $15M inflows as Larry Fink hints at Bitcoin’s potential as a global reserve asset.
- Congress set to review stablecoin legislation, adding a regulatory catalyst for Bitcoin markets this week.
Bitcoin price surged past $84,500 after a strong rebound, fueled by institutional purchases and Blackrock ETF inflows. Will BTC maintain momentum?
Bitcoin (BTC) Rebounds Above $85,000 as Multiple Firms Announce BTC Purchases
Bitcoin (BTC) 3.7% rebounded on Tuesday after overhang from Trump’s tariffs triggered market-wide sell-offs on Monday.
According to TradingView data, Bitcoin opened trading at $82,550 before rising 3.7% to reclaim the $85,499 level.
While BTC price has retraced to find support at $85,149 at press time, rising trading volume confirms continued buying support at current price levels.
At press time, standout catalysts for the rebound include recent BTC purchase announcements from multiple U.S.-based firms and an upcoming stablecoin legislation review in Congress on Wednesday April 2.
MicroStrategy, Tether, and Japan-based Metaplanet all announced fresh Bitcoin purchases in the last 24 hours.
Blackrock’s IBIT ETF Investors Post $15M BTC Inflows After Larry Fink’s Latest Statements
Bitcoin ETFs recorded aggregate net outflows of $60.6 million on Monday, marking successive losing days for the first time since March 14, according to the latest data from analytics platform Fairside.
A closer look at transaction stats shows that Blackrock’s IBIT ETF stood out, posting $15 million in inflows. This development follows Blackrock CEO Larry Fink’s annual letter to shareholders, in which he hinted that Bitcoin could challenge the U.S. dollar as the world’s dominant reserve currency amid growing national debt concerns.
“Bitcoin is increasingly viewed as an alternative to traditional fiat currency systems, especially as national debt levels continue to rise globally,” Fink noted.
Institutional interest in Bitcoin continues to grow, as seen in the divergence between IBIT and other ETFs, many of which saw net outflows. Fidelity’s FBTC, for example, recorded a $19.9 million outflow, while Grayscale’s GBTC lost $32.6 million in capital on Monday.
ETF flows remain a critical indicator of institutional sentiment, and Blackrock’s sustained inflows suggest confidence in Bitcoin’s long-term viability. Analysts speculate that if IBIT’s trend continues, Bitcoin price could maintain support above $82,500 and potentially push toward the $85,000 resistance level later this week.
Bitcoin Price Forecast: BTC Targets $88,000 Amid Bullish Momentum, But Key Resistance Looms
Bitcoin price forecast indicators show that BTC has surged to $85,078 at press time, posting a 3.06% gains on the daily timeframe.
The Bollinger Bands suggest volatility expansion, supporting further gains toward the upper band at $88,244. However, rejection at this level could trigger a pullback to $82,500, aligning with the lower band support at $80,749.
The MACD histogram prints a bullish crossover with the blue MACD line reversing upward, signaling improving momentum. However, the indicator remains negative, reflecting lingering bearish pressure. A confirmed cross above the signal line would validate sustained upside potential.
If BTC clears $85,500, momentum could extend toward $88,000. Failure to hold above $84,500 may invite selling pressure, leading to a retest of $82,500. Traders should monitor ETF inflows and macroeconomic cues for confirmation. While bullish momentum builds, strong resistance at $88,244 must break for further upside validation.
Frequently Asked Questions (FAQs)
1. Why is Bitcoin price rising today?
2. What are key resistance and support levels for Bitcoin?
3. How do ETF flows impact Bitcoin price?
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