Bitcoin Eyes $90K Target as $72K Breakout and $2.7B Binance Buy Wave Reset Bull Case

Bitcoin broke above US$72,000, with chart structure pointing to a measured-move target of US$90,000.
Binance recorded US$2.7 billion in taker buy orders within two hours of the US-Iran ceasefire announcement on April 8, lifting net taker volume to US$1.02 billion, its highest reading since March 17.
Analysts say the bullish structure depends on US$70,000 holding as support, with US$80,000 as the next resistance rungs before any push toward US$90,000.

Bitcoin (BTC) rose above US$72,000 (AU$104.4k) this week after breaking out of a symmetrical triangle pattern, with easing geopolitical tension and heavy Binance buying helping form a bullish setup that some analysts say could carry toward US$90,000 (AU$130.5k).

The move followed the April 8 announcement of a US-Iran ceasefire, which removed a major macro risk overhang and triggered a broader shift back into risk assets. Bitcoin was trading near US$70,996 (AU$103k) when the breakout took hold, leaving roughly 25% upside to the US$90,000 target implied by the measured move from the pattern.

CryptoQuant’s Darkfost data showed strong momentum behind the rally. Taker buy orders on Binance rose by US$1.2 billion (AU$1.74 billion) around the ceasefire headline and by another US$1.5 billion (AU$2.18 billion) in the following two hours, lifting total taker buying to US$2.7 billion (AU$3.92 billion).

Net taker volume reached US$1.02 billion (AU$1.48 billion), the strongest single-session reading since March 17. CryptoQuant analyst Amr Taha said the move reflected traders buying aggressively as macro conditions improved, rather than reacting only to a crypto-specific catalyst.

The Coinbase Premium Index also turned positive, pointing to renewed US institutional demand alongside offshore buying.

Related: Bitcoin ETFs See $471M Inflow Surge as BlackRock’s IBIT Leads

Momentum Improves Above Support

Technical indicators also strengthened. Bitcoin’s relative strength index climbed to 56 after falling to 15 on Feb. 6, signalling a recovery from deeply oversold conditions. Support is concentrated near US$68,000 (AU$98.6k), where the 200-week exponential moving average and the 50-day simple moving average are converging.

MN Capital founder Michael van de Poppe said Bitcoin had cleared the key US$71,000 level and was building a bullish structure. In his view, holding above US$70,000 (AU$101.5k) is essential to preserve the pattern of higher lows and higher highs.

This is what you’d want to see.

I mentioned earlier that a ceasefire would be a clear direction on the markets.

It happened.#Bitcoin breaks through the crucial $71K level and builds a bullish structure.

Oil is down and the Strait is open, which means that there’s a mean… pic.twitter.com/yeTubMirqe

— Michaël van de Poppe (@CryptoMichNL) April 8, 2026