Bitcoin (BTC) traded just mostly under $82,000 on Thursday following a strong price rejection around $88,400 late Wednesday, after President Donald Trump’s announcement of new tariffs introduced significant volatility across global financial markets, including cryptocurrencies. Despite the current uncertainty, leading cryptocurrency analyst BoringVest of CryptoQuant has identified what he believes to be a crucial support zone for Bitcoin that could present a prime buying opportunity for investors looking to position themselves for future gains. “Bitcoin’s strong support zone lies between $65,000 and $71,000,” BoringVest stated in his Wednesday analysis. “ Market dynamics indicate that the Active Realized Price is around $71,000. This level excludes long-dormant coins and helps us identify a support level based on more recent market activity.” The analyst further explained that the True Market Mean Price (TMMP) provides an even more accurate estimate, pointing to $65,000 as a key support level. “ If we define the area between the Active Realized Price and the True Market Mean Price as a zone, we can expect that if the price declines in the near future, it should meet significant demand in this range,” he noted. Notably, BoringVest’s analysis suggests that while “weak hands” may be selling in this area, “strong hands” are likely looking to accumulate and open new positions. “Buying Bitcoin within this range could potentially lead to substantial gains ,” he concluded. This assessment comes as other prominent industry figures also weigh in on Bitcoin’s price action. BitMEX co-founder Arthur Hayes has emphasized the importance of Bitcoin maintaining the $76,500 level until April 15, suggesting the market will then be free of the uncertainty caused by US trade tariffs. “ The market doesn’t like Liberation Day,” Hayes wrote , referring to the volatility following Trump’s April 2 announcement of new tariffs for trading partners, set to take effect on April 5. However, not all analysts share this optimistic outlook. In a newsletter published Wednesday, analysts from Glassnode expressed doubts about Bitcoin’s ability to reverse its trend despite stabilization above $80,000. Their analysis suggests the current market conditions represent a “hope rally” within a broader downtrend rather than a true reversal. They further pointed to several on-chain metrics indicating the market is still suffering from an “emotional and financial hangover” from previous highs around $109,000. Notably, their data shows approximately 4.7 million BTC are currently below their purchase price, with investors having bought these coins at an average of $96,700, implying a paper loss of 12%. That said, as Bitcoin navigates this period of uncertainty amid global trade tensions, investors are closely watching these key support levels to determine optimal entry points for potential future gains. At press time, BTC was trading at $82,407 reflecting a 4.18% drop in the past 24 hours.
