Bitcoin rises to $85,000, up 0.8% intraday

Bitcoin rises to $85,000, up 0.8% intraday

Bitcoin (BTC) has seen a significant rebound, reaching $85,000 on April 19, 2025, marking a 0.8% increase intraday. This surge comes after a period of volatility and concerns raised by Federal Reserve Chair Jerome Powell regarding inflation and slowing economic growth due to President Trump's tariff strategies. Despite these challenges, Bitcoin has shown resilience by maintaining its position above $80,000 [1].

Throughout the session, BTC experienced a low of $83,211 before rebounding to an intraday high of $85,290. However, it failed to sustain this level and subsequently declined to its current trading price of around $84,786, marking a slight increase of just over 1% for the session [1].

The world’s largest cryptocurrency exchange, Binance, is actively involved in discussions with several governments to help them establish a Bitcoin reserve. According to CEO Richard Teng, the exchange is advising multiple governments on setting up a strategic Bitcoin reserve and formulating crypto asset regulation [1].

Bitcoin’s upward trajectory has weakened after a strong recovery phase that saw the cryptocurrency rebound from a low of $75,000 to reclaim $80,000 and briefly touch $86,000 before declining. This slight pullback comes after a 10% increase over seven days, helping it recover from recent declines triggered by macroeconomic pressures, including tariffs and trade tensions [1].

The tone of Bitcoin-related social media chatter has turned bullish, according to the crypto analytics platform Santiment. This shift in sentiment comes despite BTC struggling to break above $85,000. Santiment’s social media tracker, which gauges how social media users feel about crypto based on the tone of their posts, moved into bullish territory. Before its latest move, the indicator was in neutral territory, indicating that social media users were unsure about BTC’s trajectory [1].

US stocks fell on Wednesday after Nvidia flagged $5.5 billion in tariff-related charges, and Federal Reserve Chair Jerome Powell warned about the economic risks due to President Trump’s economic policies. As a result, the S&P 500 dropped over 2%, the Dow Jones Industrial Average fell 1.7%, and the Nasdaq Composite dropped by around 3%, inching closer to bear market territory. Despite the selloffs, BTC and other cryptocurrencies maintained their position, with the flagship cryptocurrency holding above $84,000 despite growing market pressure [1].

BTC is currently trading just under $85,000 as it struggles to build momentum and move past the resistance of around $86,000. As a result, BTC’s recovery rally has stalled over the past few sessions, raising the risk of a bearish shift in key indicators. $86,000 emerged as a key resistance zone when the flagship cryptocurrency raced to a high of $86,030 before losing momentum and dropping to $85,378. Additionally, the MACD on the daily chart has stopped displaying successively higher bars above the zero line, indicating a loss of upward momentum. The downward-trending 50-day SMA also calls for caution on the part of buyers. BTC must hold above $80,000 to invalidate this bearish prediction. The flagship cryptocurrency must close above $86,000 to continue its recovery rally [1].

BTC is trading between $84,000 and $85,000 after rising back above $80,000. BTC’s recovery comes despite a substantial fall in trading volume. According to analysts, investor risk appetite is being pressured by trade-related uncertainty, which has counteracted enthusiasm about the crypto industry’s prospects. The resulting pullback in BTC and other cryptocurrencies, and crypto stocks has been less severe than those seen during previous declines, indicating the asset class’s growing maturity and resilience [1].

References:
[1] https://www.ainvest.com/news/bitcoin-struggles-reclaim-85-000-mark-fed-concerns-2504/
[2] https://bitzo.com/2025/04/bitcoin-price-analysis-btc-vaults-past-85000-eyes-possible-move-to-90000