Bitcoin’s $94K Jump Sparks Debate: Next BTC Price Stop $96K or Double Top Reversal?

Bitcoin has exceeded the realized price of short-term holders, which has excited analysts, although their forecasts about Bitcoin’s upcoming trajectory vary. The market questions how long the Bitcoin price surge will become a permanent trend, since authorities speculate about potential major market drops.

Is Bitcoin Primed for a Major Rally or a Setback?

The value of Bitcoin currently exceeds short-term holder realized prices and has reached a level of $92,089. Bitcoin has succeeded in breaking above this level for the first time since March, increasing expectations of a substantial price increase. The Bitcoin value reached $94K during the last 24 hours, indicating a 6% increase. This follows President Trump’s stance on Fed chair Powell and softening his stance on China’s tariffs.

However, some analysts, like Avocado_onchain, urge caution. The current Bitcoin price movement may form a double top pattern because it replicates a price behavior that occurred in 2021. Evaluations indicate that the current market movement represents a possible brief peak rather than lasting upward momentum. 

Image 1- Bitcoin Realized Cap, provided by Avocado_onchain, published on X, April 24, 2025

The analyst demonstrated this data through a chart showing how momentary investors moved from their initial category into 3–6 month investing, denoted by a yellow arrow, during long-term market losses. During rallies characterized by green arrows, this group tends to profit by selling their assets to new market participants.

What Does the Behavior of Short-Term Holders Indicate?

Bitcoin’s price movements heavily depend on short-term holder behavior since these participants enter the market when prices rise. The current surge indicates key developments in the market through these short-term holder patterns, which remain under observation. Market corrections usually occur after short-term holders execute profit-taking moves according to historical price performance.

Image 2- Bitcoin Realized Price, provided by Avocado-on chain, published on X, April 23, 2025

According to Avocado_onchain analysis, the market’s available liquidity might decrease through the transition of holders into long-term positions when prices draw down. The crypto market experiences potential volatility when short-term holders cash out at vital price thresholds, including $91,000. The realized price for short-term holders has exceeded during past Bitcoin halvings, as price peaks consistently reached higher figures. The present market movements hint at another price peak, potentially to $100K, before a considerable market correction occurs.

Is a Rally to $96K Imminent as Tariffs Likely to Reduce by 50%?

The current Bitcoin price performance is substantially influenced by broad economic conditions, even though it continues to show strength. Market uncertainty caused by U.S.-China trade tariffs creates additional risks in the market. The decrease in U.S.-Chinese tariff levels created buoyant market conditions for Bitcoin and other risk-oriented assets. According to a WSJ report, the US tariffs on China will likely be reduced by 50%. 

JUST IN: 🇺🇸🇨🇳 US tariffs on China will likely be reduced by 50%, WSJ reports.

— Watcher.Guru (@WatcherGuru) April 23, 2025

Meanwhile, the Bitcoin market still has a positive outlook as altcoin sits at $92,089. The king coin has established strong support above key moving averages, tilting the odds toward the bulls. The slight retracement may enable the bulls to regroup before a potential rally toward $96K. 

Chart 1- BTC/USD price analysis, provided by Emmaculate, published on TradingView, April 24, 2025.

A closer look at the BTC technical indicators shows that the Relative Strength Index has slightly dropped to 63.27. Its position above the 50-mean level shows that the bulls still dominate. At this level, if the bulls regain strength and increase the buying appetite, the Bitcoin price will reclaim the $94K mark. In a highly bullish case, the Bitcoin price could rally toward 95K or $96K soon. 

Conversely, if early profiteering dominates, the king coin would drop toward the $91,530 support area. A deeper correction will cause BTC to drop to $88,688, coinciding with the 200-day MA. A breach below this level will invalidate the bullish sentiment, toward the $85,030 support area.