The Fed plans to soften the rules framing cryptocurrencies for banks, signaling a pro-Crypto turn under the Trump administration. Jerome Powell wishes to encourage innovation while guaranteeing the security of the banking system. In parallel, the Whales have returned to Bitcoin while the course has been correcting since the start of the year. The BTC has stabilized beyond $ 80,000 for several days, and a larger rebound no longer seems impossible. We analyze the situation of the king of cryptocurrencies in the bulletin of April 17!
Bitcoin course climbs slightly in 24 hours
Yesterday, the Bitcoin course was resumed around $ 83,000and buyers managed to do Return the BTC beyond $ 85,000. The BTC displays a Slight increase in 24 hours (+1.2 %) : Bitcoin performance in the face of different pairs. Source: Coincheckup the king of cryptos progresses from 3 % in a weekd’1.5 % in one monthbut he Fall of 16.5 % in three months. And for its part, the BTC/ETH pair still does not show No signs of feverishness. The BTC outperforms very largely Ethereum For several months.
Negative funding rats: positive for bitcoin?
The Bitcoin course has experienced a lower phase since the start of the year with a Fall under $ 80,000 because of Trump customs duties. But for a few days, Bitcoin has managed to Maintain beyond $ 80,000. Buyers seem to be present, and Funding Rates are back in the negative :
Evolution of funding rats on bitcoin. Source: Bitcoin Magazine Pro Les Funding Rates are costs paid by traders. Right now, we have Funding rats negativeand that indicates that shorts in shorts pay fees to buyers (long). These conditions tend to reboundthis is especially what happened during the End of correction in 2024 (around September).
The BTC course hesitates around $ 84,000
After a down periodbuyers have regained the hand around the Support at $ 76,500. And for about five days, buyers and sellers neutralize around $ 84,000 :
Bitcoin course against the dollar (4 hours) If it is the buyers who win, the course could return to the Resistance around $ 90,000. On the other hand, a Weakening of $ 84,000 could bring the BTC at $ 76,500. The momentum indicator RSI increases For several days, so these are the buyers who have the advantage of the momentum. The price of Bitcoin has stabilized around $ 84,000 for several days, and the funding rats go back to the negative. The BTC has the opportunity to review the $ 90,000, but for that, it will be necessary to keep the $ 84,000. The king of cryptos could even join the $ 120,000 if the scenario of 2024 reproduced.