The crypto markets were heavily consolidating ahead of Trump’s Liberation Day, where new tariffs were announced on various countries. Following the event, the US markets were disrupted and faced huge consequences not seen since 2020. The US tax hike was also massive, the highest since 1968, increasing the uncertainty over the markets. Meanwhile, crypto markets displayed strength, recording minor pullbacks, which raises possibilities of a potential bull run in the coming days.
Bitcoin, specifically, has been holding the pivotal support at $81,017 for nearly a month, hinting at the presence of bulls who remain vigilant. The bulls are instead trying hard to push the prices above the pivotal resistance at $85,000, but the restricted buying pressure has been preventing them from doing so. However, considering the market conditions, the price is expected to take a sweep lower, close to $80,000, which could be a decisive phase for the BTC price rally.
The short-term price action of BTC suggests the bears are trying very hard to squeeze the rally, which is unable to clear the immediate resistance zone between $83,500 and $83,800. Meanwhile, the market dynamics and the technicals hint towards a potential descending trend, dragging the levels close to $80,000. However, the descending trend line may offer a strong base, which may trigger a rebound or in case the price breaks down, a massive drop below $77,000 could be imminent.
Is There Any Possibility of a Bitcoin Bull Run in 2025?
The overall health of Bitcoin can be gauged by the realized price, as it shows the economic state of the market. If the realized price oscillator surges, it suggests the Bitcoin price is rising faster than the number of coins being moved over the platform. This suggests a notable rise in the demand, but the current market dynamics suggest the price has dropped below the realized price.
The price remained higher during the previous events of ETF approval, halving, US elections, and the inauguration of the new president. Alongside, the STH cost basis has also plunged below the average, which adds more fuel to the prevailing bearish trajectory. Therefore, if the price revives a rebound above the realized price at $93,300, the possibility of a bullish continuation may prevail for a long time.
Achieving these levels may be considered a signal that the Bitcoin (BTC) price is ready to resume its bull run that could push the price towards a new ATH.
