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Bitcoin has ticked over $86k after breaking through $85k just 10 hours ago. With no events or political catalysts driving the move, Bitcoin has experienced a weekend of natural price action. It has quietly reclaimed the upper boundary of the consolidation range it was stuck in earlier this month, and is now using that key level at $85.2k as support — potentially setting the base for its next leg higher.
With both sentiment and price action gradually improving, and assuming no unforeseen political turbulence, Bitcoin looks poised to retest the $90k level if market momentum is allowed to run its natural course.
While there are no major market-moving events scheduled this week, a few items are worth keeping an eye on. US Consumer Confidence data will be released Wednesday morning, which could provide insight into how consumers and the broader market are feeling a month on from the previous reading — which marked the largest single-month drop in nearly five years. This month, a 4.1-point decline is forecasted — not ideal, but less severe than the 7-point fall in February.
Looking ahead, Trump’s reciprocal tariffs are due to take effect on April 2nd. Given how unpredictable his messaging around tariffs has been — recently saying he is "flexible" on them — there’s potential for heightened uncertainty. Mixed signals like these tend to muddy investor expectations.
That said, Trump’s broader strategy appears to be coming into clearer focus, and investors are starting to gain a better understanding of his goals. Jerome Powell has also offered clarity on the Fed’s position, referring to the tariffs as “transitory” — a comment that may calm some nerves.
Stormrake Spotlight: Ripple (XRP) ($2.43)
Stormrake Spotlight: Ripple (XRP) ($2.43)
XRP continues to consolidate around the midpoint of its broader range — a promising sign following its late-week push higher. It's now setting a solid base above both the 55 EMA and 21 EMA, as well as the mid-range level. This is a classic bullish consolidation.
If this structure holds while Bitcoin continues its quiet climb, we could see momentum flow back into XRP, pushing it toward the top of its range sooner rather than later.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin has just cleared a key resistance level at $85.2k — the upper limit of its recent range — and is now testing the CPR (Central Pivot Range) resistance at $86.4k. This level proved to be a hurdle less than a week ago and may once again offer some short-term resistance.
If BTC can flip this CPR resistance into support, momentum could accelerate and bring $90k within reach. Short-term metrics remain bullish, and the structure looks favourable so long as BTC holds above the former resistance — now key support — at $85.2k.
BTC Total ETF Flows for 23 Mar: $ (data not available at the time of writing)
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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