Bitcoin Price Analysis: BTC Reclaims $82,000 After Brief Wobble
Bitcoin (BTC) surged above $80,000 after losing momentum on Thursday as markets experienced a dip. The flagship cryptocurrency fell to a low of $78,452 on Thursday before settling at $79,592. BTC is up over 3% during the ongoing session, trading around $82,167 as it looks to move past $85,000.
Analysts believe BTC could have ended its recent downtrend, suggesting a rebound was on the horizon.
New Hampshire House Passes Bitcoin Reserve Bill
The New Hampshire House has voted 192-179 in favor of House Bill 302 after it cleared the House Commerce and Consumer Affairs Committee with a one-sided vote of 16-1. The passage of the Bitcoin Reserve bill makes New Hampshire the fourth state to advance such legislation with Arizona, Texas, and Oklahoma. The bill will now head to the Senate to be debated further before potentially landing on Governor Kelly Ayotte’s desk for approval. If signed into law, House Bill 302 would authorize the state treasurer to allocate up to 10% of New Hampshire’s general fund, revenue stabilization fund, or any other legislatively approved fund towards certain digital assets and precious metals, including Gold, silver, and platinum.
However, the bill places stringent requirements to qualify for inclusion in the reserve. To be included in the reserve, a cryptocurrency must have maintained an average market capitalization of at least $500 billion over a year, a criteria only met by Bitcoin. According to supporters, the bill could open up new avenues for revenue generation and financial diversification.
Bitcoin Maturing As A Macro Asset
Bitcoin (BTC) is maturing as a macro asset amid growing market turmoil, believes James Toledano, COO at Unity Wallet. BTC spent weeks moving in tandem with traditional assets and equities. However, it decoupled to demonstrate a measured reaction to a historic selloff after the US imposed reciprocal tariffs on over 100 countries. According to Toledano, this measured response highlights BTC’s growing maturity as a macro asset. Toledano's observations came after BTC began consolidating after weeks of a gradual decline, which saw the asset drop over 25% from its Jan 20 peak.
The drop, which mirrored losses suffered by the equities market, challenged the notion that BTC is not correlated with traditional assets. It also undermined the digital gold narrative of the flagship cryptocurrency. However, Toledano believes BTC’s recent reversal shows investors are changing their perspective.
“While it’s far from decoupled or insulated from broader economic shocks, it has fared surprisingly well during this recent market-wide sell-off. This might suggest that fewer investors view it as merely another high-beta risk trade. Instead, we’re beginning to see bitcoin occupy a liminal space between risk and refuge.”
BTC had tracked global markets during much of Q1 2025. However, Gold had its best performance in decades, reaching a new milestone just days after the April 7 market meltdown. Gold’s performance emboldened BTC’s critics. However, Toledano argued,
“The global response to US policy shifts is reinforcing bitcoin’s core proposition: a non-sovereign store of value in an increasingly fragmented world. While not yet a traditional safe haven, bitcoin is growing into that role—its resilience increasingly speaks louder than price action alone.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) dipped below $80,000 on Thursday, falling to a low of $78,452. However, it rebounded during the current session to reclaim $80,000, reaching a day high of $82,983 before registering a marginal decline. Despite BTC’s recovery, analysts remain skeptical of whether it can retain momentum and push toward $85,000 or higher. While tariffs have been paused for 90 days, markets remain jittery. Alexander Kuptsikevich, Senior Market Analyst at FxPro, stated,
“Bitcoin (BTC) has temporarily recovered to $80,000, but the medium to long-term trend reversal remains uncertain. Bitcoin is currently approaching the upper end of the downtrend and is being tested to see if it can break out of the correction trend that has continued for the past two months.”
Meanwhile, another analyst has suggested that if BTC pushes above $85,000, it could surge to the next resistance zone around $96,000.
“Bitcoin may face resistance at the $84,000 level. If it breaks through this resistance line, it could surge to the next resistance zone of $96,000. This price range initially acted as a support line at the beginning of this bull market, but if the upward trend slows, it could turn into a resistance line. The same pattern was repeated in past bear markets.”
BTC registered a sharp decline on Wednesday, reaching a day high of $88,624 before plunging over 3% to $82,525. It recovered on Thursday, rising 0.82%, and continued to push higher on Friday, rising 0.76% to settle at $83,828. However, sentiment changed over the weekend as BTC registered a marginal decline on Saturday and settled at $83,423. Bearish sentiment intensified on Sunday as BTC plunged over 6%, slipping below $80,000 and settling at $78,301. The price faced volatility on Monday after rumors about a tariff pause, falling to a low of $74,393 before surging past $80,000 and then dropping to settle at $79,164, ultimately registering an increase of 1.10%.
Source: TradingView
However, BTC was back in the red on Tuesday, dropping almost 4% to $76,283. Markets rallied on Wednesday after President Trump announced a 90-day pause on reciprocal tariffs. As a result, BTC surged over 8% to reclaim $80,000 and settle at $82,593. The rally lost momentum on Thursday as the price dropped 3.63%, slipping below $80,000 and settling at $79,592. BTC has recovered during the ongoing session, with the price up almost 3% and trading at $81,816. Buyers will look to retain control and push BTC past $85,000.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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