Bitcoin climbed above $76,000 on Tuesday, logging its strongest advance in more than two months and triggering fresh bullish projections that price could push toward the $90,000 area. The token gained more than 5% on the day, touching an intraday high of $76,120, its highest level since February 6.
Technical models now point to a potential move toward roughly $89,000–$90,000, about 18% above current levels, if the latest breakout holds. A daily close above $75,000 is seen as critical to confirming this bullish continuation pattern, with $80,000 identified as the next major resistance zone.
Key technical levels: support reclaimed, momentum improves
Trading data showed Bitcoin reclaiming the $75,000 area, where its 100‑day exponential and simple moving averages converge, restoring what chart watchers view as a key support band.
Price action also confirmed a break above an ascending triangle that had formed near $73,000. That formation implies a technical target near $89,050 if the breakout is sustained.
Momentum indicators have strengthened alongside the move. The daily relative strength index has climbed to 63 from 15 in early February, signaling a marked rebound in buying pressure from the recent low.
Network activity surges alongside price rally
Onchain metrics underline the latest advance. Data providers reported that daily Bitcoin transactions have jumped 62% since the start of 2026, reaching 765,130 on April 5. The last comparable throughput was seen in November 2024, when trading was heavily influenced by volatility surrounding the U.S. elections.
Fee revenue across the network rose 4% over the past week to $153,700, pointing to higher average transaction costs as more users compete for block space. The combination of rising transaction counts and higher fees is seen as evidence of robust network engagement during the current price move.
Analysts note that similar spikes in usage and fee pressure have historically coincided with periods of heightened user participation and greater trading volume across digital assets.
Fed’s cautious stance puts broader risk appetite in question
The renewed strength in Bitcoin is emerging against a more challenging macro backdrop. Updated guidance from the U.S. Federal Reserve has shifted expectations for risk assets, with policymakers signaling a more cautious path on monetary easing.
Fed Chair Jerome Powell has indicated that only one interest rate cut is expected for the remainder of the year, a step back from the multiple cuts many market participants had anticipated. This comes even as the latest Consumer Price Index shows annual inflation running at 3.3%.
The prospect of higher‑for‑longer borrowing costs is now a key focus for markets, raising questions about how sustained the current rally in speculative assets, including Bitcoin, can be.
Institutional flows flip to outflows as positioning stays leveraged
Flows into spot exchange‑traded Bitcoin products have turned negative, suggesting a cooling of institutional appetite. According to data from Farside, these vehicles have recorded five straight sessions of net outflows, with a total of $621 million leaving the funds. The shift contrasts with the heavy inflows seen only weeks earlier.
In derivatives, open interest in futures remains elevated near a record $35.2 billion, indicating that substantial leveraged positions are still in place and could magnify moves in either direction.
In a recent note, Markus Thielen of 10x Research highlighted $67,500 as a key downside level, arguing that holding this support is essential to avoid a broader market downturn.
Long‑term holders begin to take profits
Onchain positioning shows a subtle but notable change in behavior among long‑term holders. Their net balance has fallen by just over 70,000 Bitcoin over the past 30 days, suggesting some seasoned market participants are using current price strength to realize gains.
While the combination of strong technical momentum and rising network activity is supporting the latest advance, the shift in Fed expectations, the move to net outflows in major spot products, and profit‑taking by long‑term holders highlight growing cross‑currents that could shape Bitcoin’s next major move.
As Bitcoin reacts to Fed signals, learn proven tactics in our guide on Bitcoin trading strategies.
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