Bitcoin has experienced a sharp rebound, with its price climbing approximately 9% to retest $83,000, mainly due to a pause on tariffs announced by US President Donald Trump. This has reignited bullish momentum among investors, raising hopes that the cryptocurrency may surge toward the $100,000 mark. Analysts note the formation of a falling wedge pattern on Bitcoin's daily chart, which, if broken, could validate an upward trend. A critical onchain support zone, defined between $65,000 and $71,000, has emerged as an essential threshold for sustaining bullish sentiment. If Bitcoin's price falls below this range, it could lead to negative investor sentiment and further declines. Conversely, staying above this range could increase the likelihood of a retest of $100,000 by June. Analysts from Glassnode have indicated that maintaining this price level is crucial for Bitcoin's long-term outlook, linking active investor sentiment to these price thresholds.

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