The cryptocurrency market has restored its bullish momentum in the second week of April, following BTC’s recovery of over $90,000. Defying the broader market downturn, the Bitcoin price rally, along with gold, has raised the asset’s ability to withstand political instability and emerge as a safe haven for investors. But is it true?
Bitcoin Holds Its Safe-Haven Status Amid TradFi Volatility
So far in April 2025, the broader market sentiment has been in turmoil following diplomatic tension between the United States and other countries amid the tariff deal. However, the Bitcoin price regained momentum in the month’s second half, joining gold as a hedge against political instability.
Having said that, Bitcoin decoupled from gold and rallied alongside equities last week, signaling a flip-flop in behavior between safe-haven and risk assets. While these other asset classes struggle to drive sustained momentum, the market narrative shows an “up-only” sentiment for BTC.
Standard Chartered Predicts New All-Time High for BTC
“A number of indicators support our view that Bitcoin is headed for the next leg higher,” Standard Chartered’s Geoffrey Kendrick said in Monday’s report, according to The Block. “U.S. Treasury term premium (which has a close correlation to BTC) is at a 12-year high. Time-of-day analysis suggests that U.S.-based investors may be seeking non-U.S. assets.
With the shift in investors’ preference, Kendrick predicts a new bitcoin all-time high around $120,000 in Q2.
According to a QCP report, Bitcoin’s options markets show a bullish narrative as call skew remains elevated. On Friday, over 500x BTC-30MAY25-104k-C and 800x BTC-27JUN25-135k-C were bought.
Along with speculative leverage, this recovery is backed by whale accumulation, BTC ETF inflow for six consecutive days, and easing tariff tension among investors.
Double-Bottom Sets BTC for 20% Rally
In the last three weeks’ Bitcoin news, the price of Bitcoin has shown a bullish recovery from $74,588 to $93,850, registering a growth of 25%. In daily chart analysis, this recovery shows a well-known reversal pattern called a double bottom, with an $88,675 neckline breakout last on 22nd April.
By press time, the BTC price trades at $93,463 with an insignificant gain of 0.1%. The overhead selling pressure at $95,400 could plunge the asset 5% down to retest the neckline as potential support.
This bullish upswing also reclaims key daily EMAs (20, 50, 100, and 200), signaling a change in market sentiment. If the pattern proves, the coin price could bounce 20% to $114,300.
On the contrary, if the sellers hold the $108,400 resistance, the coin price could enter a consolidation trend.
Also Read: Possible Crypto Heist Involving $330M in Bitcoin Drives Monero (XMR) Surge
