Bitcoin rallied above $84,000 on Wednesday, jumping more than 8% within hours of Donald Trump’s surprise rollback of global tariff plans. The surge appears to validate BlackRock CEO Larry Fink’s Monday prediction that the looming economic uncertainty could create an attractive entry point for long-term investors.
Trump Tariff U-Turn Ignites $84K Bitcoin Price Breakout
Bitcoin (BTC) entered a 12% rebound on Thursday, was triggered by Trump’s abrupt reversal on sweeping tariffs initially aimed at all U.S. trading partners. The revised trade policy, which now targets a flat 10% tariff (excluding China), eased investor fears of an escalating global trade war.
The crypto market responded swiftly. BTC price soared from an intraday low of $74,700 to peak near $83,600, its strongest single-day move since March. Top altcoins followed in Bitcoin bullish lockstep, with Ethereum, XRP, Cardano, Solana and Dogecoin also pulled double-digit gains.
Markets Reaction Aligns with Blackrock CEO’s prediction
Bitcoin 10% price rebound on Thursday coincided with remarks made earlier in the week by Larry Fink at the Economic Club of New York. When asked about Trump’s tarrifs, warned that broad tariffs could trigger a 20% correction in global markets, but added that such a move would likely present an “incredible buying opportunity.”
“I see it more as a buying opportunity than a selling opportunity,” Blackrock CEO, Larry Fink said, emphasising a positive near-term outlook.
With Trump’s early tariff U-turn appears to affirm the Blackrock CEO’s prediction that the trade war turbulence over the past, provides a opportunity for savvy traders to buy the dip.
negate one of the key bearish risks, market participants seemed to interpret the event as a green light for reentry—validating Fink’s foresight.
Binance sees $1.3B exchange deposits amid two-week turbulence
Bitcoin price has endured intense volatility over the past week, as Trump tariffs sparked bearish pressure. However, on-chain data trends suggests that the intra-day see-saw price movements may not be over yet.
According to CryptoQuant data, total Bitcoin deposits on Binance increased by over significantly since the market turbulence began. As seen above, between March 28 and April 10, Binance BTC deposits rose from 2,419,603 BTC to 2,435,662 BTC. Valued at the current BTC prices around $83,500, it means that investors have deposited 16,059 BTC worth $1,340,926,500 over the last two weeks, i
When exchange deposits surge, flashes bearish signals, inflating short-term supply and amplifying volatility.
First it hints a broad market anxiety, as investors shift tokens into exchange to enable rapid trade reactions to volatile news signals or seek short-term opportunities to reduce exposure if market sentiment worsens.
Until Binance begins to see rapid exchange withdrawals indicating transfers into long-term savings, the elevated BTC deposits in Binance-hosted trading wallets suggest majority of active investors remain primed to react to short-term triggers.
Bitcoin Price Forecast: BTC Faces Key Resistance at $88.8K as Traders Eye $100K Milestone
Despite the bullish momentum, Bitcoin faces a formidable technical barrier at $88,800—the high from April 2 when the initial tariff news broke. The Keltner channel upper limit on the BTCUSD 12-hour chart currently hovers around $88,130, reinforcing this as a critical resistance zone.
This aligns with the recent local top recorded last Wednesday, just before Trump announced the initial sweeping tariffs.
Given the speed of the rebound, traders who entered at the start of the correction may look to take profits near breakeven levels, creating a sell-wall scenario. Unless BTC breaks through this choke point with strong volume, the path to $100,000 may remain elusive in the near term.
Markets are also in a holding pattern as inflation data from both the U.S. and China is set to be released Thursday. A dovish reading could provide the final confirmation for Fink’s thesis and reinvigorate bulls.
Bearish Breakdown Could Target $73.5K if Inflation Prints Disappoint
While sentiment has turned cautiously optimistic, the risk of retracement looms large if inflation figures exceed expectations. Hawkish surprises could shift monetary policy outlooks, prompting a market-wide pivot toward risk-off assets.
The lower Keltner Channel band—currently around $73,500—marks a strong support area and aligns with a liquidity cluster from last week’s consolidation. A breach below $80,000, particularly on heightened selling volume, could accelerate downside momentum.
Moreover, the Detrended Price Oscillator (DPO) remains negative at -1,888, suggesting the rally has yet to establish firm footing in terms of sustainable trend momentum.
Conclusion
While the short-term outlook has improved, BTC must overcome the $88,800 resistance to turn $100K from hopeful projection into actionable reality. If inflation data cooperates and investor sentiment remains bullish, the breakout could continue. But a failure to hold the $80,000 level might open the door for a retracement to $73,500, especially if macro headwinds return.
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