Data from and showed local highs of $83,914 on Bitstamp, with BTC/USD up 1.5% on the day.
With hours to go until the quarterly candle close, Bitcoin saw some much-needed relief, even as US stocks opened lower.
Market momentum remained tied to upcoming US trade tariffs set to go live on April 2, with gold also slipping after touching fresh all-time highs of $3,128 per ounce.
Commenting on BTC price action, many market participants nonetheless favored caution.
“Retesting our 84k area of interest,” popular trader Roman wrote in his of the 4-hour BTC/USD chart.
Roman referenced the relative strength index () while forecasting a return to levels closer to the $80,000 mark.
“To me it looks like we should begin to head lower as we have a break down and bearish retest on LTF,” he continued.
“RSI also retesting the 50 area with stoch overbought. HTF still leans bearish as well.”
BTC/USD 4-hour chart with RSI data. Source: Roman/X
Popular trader and analyst Rekt Capital went further on RSI signals, revealing a support retest on daily timeframes after a from a multimonth downtrend.
“The $BTC RSI is trying to retest its Downtrend as support. Meanwhile BTC's price action is also facing a Downtrend,” he to X followers.
“If the RSI successfully retests its Downtrend... That would display emerging strength & price would be able to break its own Downtrend.”
BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X
Earlier, on various BTC price metrics combining to produce a lackluster picture of the current phase of the bull market, hinting that the correction would continue.
BTC price targets, meanwhile, now , with prediction platforms seeing .
BTC price analysis draws comparisons to late 2024
Both March and Q1 performance thus left much to be desired.
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Amid a broad lack of upside catalysts, BTC/USD traded down 10.8% year-to-date at the time of writing and 1.1% lower for March, per data from monitoring resource .
In its latest analytics report, “,” released on March 31, crypto exchange Bitfinex acknowledged that 2025 was Bitcoin’s worst first quarter in years.
“Any buying momentum is currently being capped at the $89,000 level—coinciding with the previous range lows seen in December 2024, and acting as a firm resistance level to further gains,” contributors observed.
“This resistance is also coinciding with further downside in equities, with the S&P 500 closing the week 1.5 percent lower.”
The report highlighted the growing correlation between Bitcoin and US stocks.
“Despite the turbulence, price action in recent weeks appears to have carved out a consolidation range between $78,000 and $88,000. Notably, signs of capitulation are easing, with fewer reactive sellers present and long-term holders beginning to accumulate once more,” it added.
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