Bitcoin Battles to Reclaim Key Levels Amidst Market Uncertainty

Bitcoin is struggling to regain key resistance levels amidst macroeconomic uncertainty and trade war fears, impacting both crypto and equities in the U.S. Since January, Bitcoin has lost over 29% of its value, with no clear signs of reversal. Despite negative sentiment, on-chain metrics indicate strong demand for BTC and ETH. CryptoQuant data reveals that the spread between the Exchange Inflow of stablecoins on the Ethereum network and the Inflow of BTC + ETH exceeds previous peaks in coin demand, historically marking key accumulation zones before price recoveries. The highest demand was near Bitcoin's all-time high (ATH) at $101K. Currently trading at $83,500 after losing the 200-day moving average (MA) around $84,300, Bitcoin faces an intense battle between bulls and bears. To recover, it must surpass $86,000, potentially retesting $90K. Failure to do so could lead to a drop below the $80K support zone, potentially reaching the $75K-$78K demand zone. The next few days are critical in determining Bitcoin's short-term trajectory.