Bitcoin (BTC) Price Prediction for April 3

Bitcoin price faced a strong bearish pressure after it skyrocketed toward the high of $88,500. The downward volatility surged near the peak and it pushed the BTC price toward the low of 82K. Over the past 24 hours, Bitcoin’s trading volume has surged by more than 84%, totaling $53.3 billion.

In a broader perspective, Bitcoin fell below $100,000 on January 7 and showed a downward trend. It reached a low of approximately $89,397 on January 13. On Feb 3, Bitcoin again crashed and reached a low near $91K. In recent days, the price has been facing increased volatility below $90K. Over the last 24 hours, its total market capitalization dropped by 1.36%, settling at $1.64 trillion.

Bitcoin Drops Following Trump’s Tariff Announcement 

Trump has introduced a 10% tariff on all goods entering the U.S., adding extra tariffs for about 60 countries. Specific countries face higher tariffs: 34% for China, 20% for the European Union, 26% for India, and 24% for Japan. Initially, cryptocurrencies managed to hold steady, but they began to struggle as trading started in Asia.

These tariffs are intended to support American industries, but they’ve received varied reactions from different markets. U.S. stocks have dropped, gold prices have increased, and cryptocurrencies have experienced a downturn due to selling pressure. 

Adding to the bearish mood, data from Coinglass reveals that total Bitcoin liquidations hit almost $179.6 million in the past 24 hours. Of this, long positions made up about $62.2 million, with short positions close behind at around $117.4 million, showing that both buyers and sellers are feeling the heat.

Moreover, Bitcoin’s open interest has dropped by 3.14%, landing at about $52.16 billion during the same period. Despite these negative signs, the funding rate is still positive at +0.0062%, indicating that there might be a resurgence in buying interest soon. This could help the bulls gather strength and possibly reverse the current market slump.

Bitcoin Price Prediction: Technical Analysis

Bitcoin recently faced a sharp drop after rejecting the peak of $88,500. As a result, the price of BTC dropped toward the low of $82K, showing rising bearish pressure. Currently, Bitcoin is trading around $83,273, showing a drop of 1.2% in the last 24 hours. 

The $85,000 mark has become a critical resistance point where sellers are strongly resisting any upward movement. Despite this, buyers are not backing down and are gearing up for another attempt to breach this crucial level.

Should buyers succeed in breaking through the $85,000 resistance decisively, it could greatly improve market sentiment and potentially lead to further gains, with the next significant target being around $88,000-$90,000.

On the other hand, if the buyers’ upward pressure keeps getting blocked at this resistance level, Bitcoin might face more downward pressure and could continue to consolidate within a range between $81,000 and $85,000.

Bitcoin Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, BTC price might aim for $85K. If it surges above that level, we might see $90,000. On the other hand, $81K-$85K is the lower range.

Long-term: According to Coincodex’s latest Bitcoin price prediction, BTC is forecasted to increase by approximately 38.22%, potentially reaching $116,112 by April 28, 2025. Coincodex’s technical indicators currently show bearish market sentiment, accompanied by a Fear & Greed Index reading of 26, indicating “Fear.” Over the past 30 days, Bitcoin experienced 15 green days (50%) with a price volatility of about 2.97%. Considering these factors, Coincodex suggests it is currently not an ideal time to buy Bitcoin.

Investment Risks for Bitcoin

Investing in Bitcoin can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.