Bitcoin Reclaims $84,000: Is The Correction Nearing Its End?

Bitcoin BTC/USD has reclaimed the $84,000 level on Tuesday morning, sparking speculation about whether its price correction is over.

What Happened: Prominent pseudonymous analyst Kevin stated on Tuesday on X that he believes Bitcoin’s correction to be almost over.

He remains uncertain about the strength of the next bounce, questioning whether Bitcoin will surge to new highs or form a lower high before another pullback.

The analyst states he will continue closely tracking money flow, macro fundamentals and spot volume to gauge the next move.

Crypto chart analyst Ali Martinez identified four critical support levels, with $76,180 as the highest and $39,980 as the lowest potential floor.

The pricing bands highlight four critical support levels for #Bitcoin $BTC:

• $76,180
• $58,080
• $43,740
• $39,980 pic.twitter.com/jOsIbo7UBt

— Ali (@ali_charts) April 1, 2025

Pseudonymous trader ChimpZoo argued that Bitcoin has essentially bottomed at $81,000.

He acknowledges the possibility of a brief dip to $79,000 but remains confident in the long-term upside, pointing out that Michael Saylor has absorbed $2.5–$3 billion in sell pressure, reducing the pool of marginal sellers.

Also Read: Bitcoin Is In A Mini Bear Market, Says 10x Research

Why It Matters: Santiment data shows BTC ranging between $81,000 and $84,000, while whale wallets (holding 1,000–10,000 BTC) having increased to 1,993—a 2.6% rise in five weeks, indicating cautious optimism from key stakeholders.

According to IntoTheBlock data, Bitcoin's large transaction volume spiked 79.5% in the past 24 hours, with transactions over $100,000 jumping from 6,309 to 10,147. Exchanges netflows are down by 388.9%.

Coinglass data shows open interest up 1.3%, while derivatives trading volume surged 28.9%.

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Image created using artificial intelligence with Midjourney.