The Bitcoin market has been in a holding pattern, with prices not making any bold moves recently. Experts in the crypto field are busy predicting Bitcoin’s next steps. Among them, Ali Martinez has pointed out two key resistance areas that could be crucial for kick-starting a new upward trend for the cryptocurrency market.
## Key Resistance Levels for Bitcoin: $85,470 and $92,950
Over the last month, Bitcoin hasn’t been able to sustain a solid upward trend, mainly due to a sense of uncertainty weighing on investors. The cryptocurrency has been knocked back at several resistance points, especially around $85,000 and $88,000. On Friday, Martinez shared insights on social media, identifying two significant resistance zones that could fuel a Bitcoin rally. He uses on-chain data from IntoTheBlock to support his findings.
Martinez highlights that the first resistance zone begins at $83,023, with a crucial mark at $85,470. This zone has seen a lot of activity, with 607,200 BTC traded by 1.13 million wallet addresses, indicating significant historical selling pressure.
If Bitcoin enthusiasts manage to push prices beyond this, the next challenge lies between $92,950 and $95,514. Although fewer wallet addresses (795,830) have been active here, the volume of 627,410 BTC traded hints at a substantial market impact waiting just above.
Breaking both these barriers might set Bitcoin on a more extended upward trajectory. However, Martinez warns that holding the ground above $80,450 is crucial for the bulls. This price acts as the lower boundary of a support range, reaching up to $82,907, involving transactions of about 516,770 BTC across 738,580 wallets. This support zone could help stabilize prices if they dip.
## Decline in Bitcoin Network Fees
In other news, Bitcoin network fees saw a sharp decline of 57.3% last week, suggesting a decrease in user activity and overall investor interest. Nonetheless, Bitcoin’s price only saw a slight decrease of 0.11% during this period.
Interestingly, following the announcement of new U.S. tariffs on imports, the crypto market, including Bitcoin, has reacted more positively compared to traditional markets. Ryan Rasmussen from Bitwise Invest points out that Bitcoin has gained 2.2% since the tariff news broke on April 2, whereas major stock markets, often referred to as the “Magnificent Seven,” have suffered an average drop of 12.18%.
