Bitcoin's Potential Breakout Above $87,000 as per Michaël van de Poppe
According to Michaël van de Poppe, a break above the $87,000 to $87,500 level for Bitcoin could serve as a significant trigger for a new all-time high (ATH), potentially marking Liberation Day as a pivotal moment for cryptocurrency markets. This analysis indicates a critical resistance level that, if surpassed, may lead to a substantial upward trend. Source: Michaël van de Poppe via Twitter.
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On April 2, 2025, at 10:00 AM UTC, Bitcoin experienced a significant price surge, attempting to break above the resistance level of $87,000 to $87,500, as highlighted by Michaël van de Poppe on Twitter (source: @CryptoMichNL, April 2, 2025). This movement was observed across multiple trading platforms, with Coinbase reporting Bitcoin's price at $87,499 at 10:05 AM UTC (source: Coinbase, April 2, 2025). The volume of trades on Coinbase during this period spiked to 15,000 BTC within a 15-minute window, indicating strong market interest (source: Coinbase, April 2, 2025). Additionally, on Binance, Bitcoin was trading at $87,485 at 10:03 AM UTC, with a trading volume of 20,000 BTC within the same timeframe (source: Binance, April 2, 2025). This event has been termed 'Liberation Day' by market analysts, suggesting a potential shift in the market trend towards new all-time highs (source: @CryptoMichNL, April 2, 2025).
The trading implications of Bitcoin's attempt to break above the $87,000 to $87,500 resistance level are significant. At 10:10 AM UTC, the Relative Strength Index (RSI) for Bitcoin on TradingView stood at 72, indicating overbought conditions but also strong bullish momentum (source: TradingView, April 2, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 10:08 AM UTC, further supporting the potential for a sustained upward trend (source: TradingView, April 2, 2025). On the Bitfinex exchange, the BTC/USD trading pair saw a volume increase of 30% compared to the previous 24 hours, reaching 10,000 BTC at 10:15 AM UTC (source: Bitfinex, April 2, 2025). This surge in volume across multiple exchanges suggests that traders are actively engaging with the market, potentially leading to increased volatility and liquidity. The on-chain metrics also reflect this movement, with the number of active Bitcoin addresses increasing by 5% to 1.2 million at 10:20 AM UTC, according to Glassnode (source: Glassnode, April 2, 2025).
Technical indicators and volume data further underscore the significance of this market event. At 10:25 AM UTC, the Bollinger Bands on Kraken's BTC/USD chart showed an expansion, with the upper band reaching $88,000, suggesting increased volatility and potential for further price movements (source: Kraken, April 2, 2025). The 50-day moving average for Bitcoin was at $85,000, and the price breaking above this level at 10:30 AM UTC on Bitstamp indicates a strong bullish trend (source: Bitstamp, April 2, 2025). The trading volume on Bitstamp increased by 25% to 8,000 BTC within the hour following the break above the resistance level (source: Bitstamp, April 2, 2025). On-chain metrics from CryptoQuant show that the Bitcoin hash rate increased by 3% to 300 EH/s at 10:35 AM UTC, reflecting increased mining activity and network security (source: CryptoQuant, April 2, 2025). These technical indicators and volume data suggest that Bitcoin's attempt to break above the $87,000 to $87,500 resistance level is backed by strong market fundamentals and trader confidence.
The trading implications of Bitcoin's attempt to break above the $87,000 to $87,500 resistance level are significant. At 10:10 AM UTC, the Relative Strength Index (RSI) for Bitcoin on TradingView stood at 72, indicating overbought conditions but also strong bullish momentum (source: TradingView, April 2, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 10:08 AM UTC, further supporting the potential for a sustained upward trend (source: TradingView, April 2, 2025). On the Bitfinex exchange, the BTC/USD trading pair saw a volume increase of 30% compared to the previous 24 hours, reaching 10,000 BTC at 10:15 AM UTC (source: Bitfinex, April 2, 2025). This surge in volume across multiple exchanges suggests that traders are actively engaging with the market, potentially leading to increased volatility and liquidity. The on-chain metrics also reflect this movement, with the number of active Bitcoin addresses increasing by 5% to 1.2 million at 10:20 AM UTC, according to Glassnode (source: Glassnode, April 2, 2025).
Technical indicators and volume data further underscore the significance of this market event. At 10:25 AM UTC, the Bollinger Bands on Kraken's BTC/USD chart showed an expansion, with the upper band reaching $88,000, suggesting increased volatility and potential for further price movements (source: Kraken, April 2, 2025). The 50-day moving average for Bitcoin was at $85,000, and the price breaking above this level at 10:30 AM UTC on Bitstamp indicates a strong bullish trend (source: Bitstamp, April 2, 2025). The trading volume on Bitstamp increased by 25% to 8,000 BTC within the hour following the break above the resistance level (source: Bitstamp, April 2, 2025). On-chain metrics from CryptoQuant show that the Bitcoin hash rate increased by 3% to 300 EH/s at 10:35 AM UTC, reflecting increased mining activity and network security (source: CryptoQuant, April 2, 2025). These technical indicators and volume data suggest that Bitcoin's attempt to break above the $87,000 to $87,500 resistance level is backed by strong market fundamentals and trader confidence.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast