Bitcoin’s price action in the first quarter of 2025 was defined by a notable retreat. After setting a new all-time high in January, the cryptocurrency declined by 11% over the three-month period, prompting traders to question whether deeper losses could be on the horizon.

Entering Q2, Bitcoin opened at $82,500 and has since shown modest signs of recovery, edging up 1.1% to $83,500 during the European session. However, this early rebound is unfolding against a backdrop of key technical and macroeconomic factors that could shape Bitcoin’s next major move.

From a technical perspective, Bitcoin is confronting strong resistance near $84,500, where the 50-day and 100-day exponential moving averages (EMA) intersect. These levels may act as a ceiling, potentially capping further upside. Should the price fail to break above this barrier, a pullback toward $80,000 remains a likely scenario.

This setup suggests a period of choppy consolidation, with Bitcoin caught in a tight range between support and resistance—a sign that further directional clarity may take time to emerge.