Bitcoin Traders Explain Why BTC Price Could Rebound Toward $85K

Bitcoin (BTC) has recently navigated a phase of market consolidation, pulling back from its all-time high (ATH) near $73,000. Despite this volatility, a consensus is building among institutional and retail traders that technical and fundamental drivers are aligning for a significant upside breakout, with many targeting the $85,000 level as the next major milestone.

Technical Resilience and Key Targets

The primary bullish thesis relies on the market’s technical resilience. Traders highlight the $60,000 to $62,000 range as a critical psychological and structural support zone. This area, which often aligns with the 50-day Exponential Moving Average (EMA), has successfully held against recent sell-offs. According to technical analysts, maintaining this level confirms that the long-term uptrend remains intact. The $85,000 target is frequently cited as the 1.618 Fibonacci extension level, a common measured move following a significant break of previous market structure highs.

Relentless ETF Demand and Supply Shock

Fundamentally, the single most powerful catalyst is the sustained demand generated by U.S. spot Bitcoin Exchange-Traded Funds (ETFs). Despite periods of market stagnation, these institutional products continue to post aggressive net inflows, consistently absorbing substantial portions of the newly minted BTC supply. Following the recent Halving event, which dramatically reduced the issuance rate of new Bitcoin, the resultant supply shock is expected to intensify. Traders predict that this imbalance—high, sustained institutional demand meeting reduced new supply—will force the price higher toward new territory.

Macroeconomic Tailwinds

Macroeconomic indicators also support a bullish outlook. As global central banks, particularly the U.S. Federal Reserve, move toward eventual rate normalization and potential rate cuts later in the year, risk-on assets such as Bitcoin become increasingly attractive. The narrative of Bitcoin as a decentralized, inflation-resistant store of value strengthens during periods of fiat currency uncertainty and high sovereign debt. Analysts suggest that the anticipation of a weaker U.S. Dollar will act as a significant tailwind for BTC.

In conclusion, while BTC must successfully reclaim and consolidate above the $70,000 psychological barrier to confirm momentum, the convergence of strong technical support, powerful ETF inflows, and favorable macroeconomic policy provides a robust foundation for market participants targeting a near-term rebound toward the $85,000 price objective.

Source: Bitcoin traders explain why BTC price could rebound toward $85K