TradingKey – On April 17, catalyzed by the announcement of a ceasefire between the U.S. and Iran, the temporary reopening of the Strait of Hormuz, and substantive progress in the U.S. crypto asset regulatory framework, Bitcoin touched $78,384 intraday. This successfully broke through the descending resistance line that has suppressed every rally since October 2025; Bitcoin has now rebounded approximately 21% from its March low of $62,500.

Nevertheless, Bitcoin (BTC) following the upward breakout, divergence between bulls and bears has increased rather than diminished.

On-chain metrics lack consistency—Glassnode’s TMM (True Market Mean) indicator is currently near $78,000, and whether price can reclaim this level is the core dividing line…