Bitcoin Price Forecast: Bullish Momentum from US Jobless Claims Could Propel BTC to $90K

Bitcoin’s price stabilises above $84,500, driven by stronger US Jobless Claims reflecting a resilient labour market. Calls for interest rate cuts from Trump may further support BTC growth, targeting $90,000. A divergence from S&P 500 trends indicates a growing investor preference for Bitcoin as macroeconomic uncertainties increase.

Bitcoin (BTC) has recently stabilised above $84,500, demonstrating resilience against market volatility during a challenging week. The latest labour market data revealed US Jobless Claims fell 4% below expectations, indicating a stronger job market despite ongoing tariff concerns. Investors are increasingly seeking risk-on assets as calls for interest rate cuts from President Trump coincide with this robust labor data.

In the week ending April 12, Jobless Claims were recorded at 215,000, down from 224,000, signalling potentially positive economic conditions. This development supports the narrative that the economy may withstand relaxed monetary policies even amid tariff pressures. Trump’s public criticism of Federal Reserve Chairman Powell is further fuelling hopes for upcoming rate reductions in response to this data.

Following Trump’s announcement of new tariffs on April 2, a marked divergence between Bitcoin and the S&P 500 has emerged, reflecting a growing investor preference for BTC over traditional equities. Major tech stocks faced substantial sell-offs due to tariff-linked losses, with Nvidia incurring a significant financial hit. This trend underscores a potential shift in market sentiment, favouring Bitcoin as a hedge against risks.

Bitcoin’s performance gap against the S&P 500 has narrowed significantly recently, revealing a stronger appetite for the cryptocurrency among investors. The divergence coefficient fell from 0.16% to 0.083%, indicating a 48.1% stronger comparative performance for Bitcoin over equities within two weeks, as capital flows increasingly favour BTC amid macroeconomic uncertainties.

Current Bitcoin price forecasts suggest a bullish trend, moving towards $87,000 as it stabilizes above $84,000 despite external pressures. Indicators suggest that if Bitcoin can surpass the recent resistance near $84,900, it may set the stage for further upside movement. However, a drop below support levels would require careful monitoring, though the Balance of Power indicators suggest positive momentum remains in play.