[April 5 BTC Trend Analysis]

Despite the looming shadow of the trade war over the global market, BTC shows its kingly demeanor with calmness.

During the London midday session, Bitcoin surged briefly to $84,000, with a 24H trading volume skyrocketing by 22%, approaching $42 billion, and the capital heat soaring.

Background Macro:

The trade war between the United States and China continues to escalate, with JPMorgan warning that the U.S. may enter a technical recession, and the annual GDP could decline to -0.3%. The traditional market is languishing, while BTC quietly becomes a safe haven of 'digital gold.'

Whale Activity:

On-chain data shows that BTC large transactions surged by $136 billion in the past 7 days! The BTC inventory on exchanges also dropped from 2.22 million coins on March 18 to 2.19 million coins—capital is flowing into cold wallets, clearly indicating a long-term holding intention!

📉 Technical Analysis:

Bitcoin is currently building strong support around 80.5K. Once stabilized, the next target could aim for 85.5K, or even challenge 92K! However, it should be noted that if it breaks below the support, it may temporarily retrace to the 70K region.

Core Viewpoint:

Currently, BTC is both a safe-haven asset and a pioneer in the warming phase of a bull market. As global uncertainty continues to ferment, the crypto market may become a new safe haven for capital! Should we get on board in advance? What do you think? Looking forward to your thoughts in the comments.