Even though we have had a tumultuous week marked by macroeconomic uncertainty and ongoing worries about world tariffs, Bitcoin has shown something notable: resilience. Even at the local price lows of this week, over 85% of Bitcoin holders are sitting in the black. This is a stat that reveals the underlying strength of the market structure and the long-term accumulation trend of this asset. This degree of profit, even when the markets are pulling back, reflects a major change in how investors are interacting with Bitcoin in this cycle. Even at this week's lows, more than 85% of Bitcoin holders remained in profit, underscoring its resilience amid tariff concerns. The chart below shows how Bitcoin’s overall profitability has changed over time. Where do you think the market is heading next? pic.twitter.com/3rgB17Wowd — IntoTheBlock (@intotheblock) April 10, 2025 Even when the price has fallen, most investors have seen it go up enough that they’ve made profit since buying at lower prices. And with the way the price has moved lately, you can’t say that this is some kind of fantastic new high that is just mesmerizing to altcoin and stockholders. We’re not going back to the $20,000 price point at this level. Yet, with the price at around $11,000, these must be tough times if you’re holding Equities or some kind of altcoin. Bitcoin is doing better than both at this point. Rising DeFi Adoption Among Bitcoin Holders One of the more interesting trends this year is the integration of Bitcoin with the Ethereum Virtual Machine (EVM) ecosystem. Currently, over 234,000 BTC have been deployed on EVM-compatible chains, a nearly 10% jump since the start of 2025. Currently, more than 234,000 BTC are deployed on EVM chains, a figure that has grown by around 10% since the start of the year. This trend highlights how Bitcoin holders are increasingly turning to DeFi mechanisms, such as Bitcoin staking, to earn yield on their assets. pic.twitter.com/6oLZrYF2pq — IntoTheBlock (@intotheblock) April 10, 2025 This movement underscores what seems to be an increasingly common desire among Bitcoin holders to earn yield on their assets through decentralized finance (DeFi) protocols. We are witnessing Bitcoin being used in a range of decentralized finance (DeFi) applications that were until recently the exclusive domain of Ethereum-based assets. Wrapped Bitcoin and synthetic Bitcoin allow users to access DeFi primitives on Ethereum, and this is a pretty big deal. It reflects the maturation of cross-chain infrastructure and speaks to Bitcoin’s evolving utility. This shift toward yield-bearing strategies may also help to explain the high percentage of holders in profit. Not only have many entered at lower price points, but they’re now able to generate passive income through smart contract-based applications, providing yet another layer of incentive to hold rather than sell. Key Price Levels: Support, Resistance, and Long-Term Targets Technical analysis concludes that Bitcoin possibly is entering a decisive stage in its current cycle. The Mayer Multiple, a favored indicator that relates the current price to the 200-day moving average, suggests that Bitcoin may find strong support around $69,500. This zone has a rich history of providing reliable bases during times of market uncertainty and consolidation. Based on the Mayer Multiple, #Bitcoin $BTC could find solid support around $69,500. And, a breakout above $86,900 might set the stage for a market top near $208,550. pic.twitter.com/aoLK9F4vrI — Ali (@ali_charts) April 10, 2025 Optimistically, forthcoming resistance is seen coming in around $94,500, based on multiple key pricing tiers. A sustained break above this level could trigger a major upswing, almost certainly taking us toward some of our longer-term price targets. One of those targets, derived from historical breakout structure, is just about reading 2-and-change times higher from this level, our apparent uptrending target near $208,550, likely the top price for this cycle, if the current rally gathers any momentum. As #Bitcoin $BTC rebounds, the next immediate resistance stands at $94,500, according to pricing bands. pic.twitter.com/pObd0IXAsW — Ali (@ali_charts) April 10, 2025 Short-term headwinds still exist, though. On April 9, Bitcoin spot exchange-traded funds (ETFs) saw a net outflow of $127 million, the fifth day in a row of outflows. This apparently signals declining institutional interest in the near term, but the ETFs’ price impact has been pretty mild so far. That suggests that retail and on-chain investors, the true backbone of Bitcoin’s current strength, have been absorbing the selling. On April 9, Bitcoin spot ETFs saw a total net outflow of $127 million, marking the fifth consecutive day of net outflows. Ethereum spot ETFs recorded a total net outflow of $11.1873 million, with none of the nine ETFs experiencing any net inflows. https://t.co/Hj2Gs49bWa — Wu Blockchain (@WuBlockchain) April 10, 2025 These outflows may be due to more general market problems, rather than any change in Bitcoin’s fundamentals. At the moment, investors have a lot to juggle. And the basic narrative they are constructing is that, when there’s a lack of clarity around monetary policy, and certainly when there’s heightened geopolitical risk, like there is right now, investors tend to pull back from riskier assets, which would include Bitcoin. What Lies Ahead for Bitcoin With macro uncertainty at play and important price levels close at hand, the question now is: Where does Bitcoin go from here? On-chain data suggests that long-term holders are still confident, despite the ETF outflows. The profitability of wallet addresses is consistent; DeFi engagement across EVM chains is rising; and the reactions to negative headlines have been relatively minor. All this suggests that Bitcoin’s current structure is still something you would characterize as bullish. Should Bitcoin manage to take back the resistance close to $94,500, the road toward the $100,000 psychological mark—and even higher—might become much more clear. Till then, the support area around $69,500 will be key in deciding whether the ongoing consolidation is a prolonged healthy breather or the onset of a more serious downward adjustment. At present, Bitcoin is still confidently asserting its strength. The wider market, in contrast, appears to be searching for a definite way forward. And in a segment of the investment world increasingly animated by on-chain usefulness and worldwide interest, Bitcoin’s bullish behavior might well be the signal—not the noise. Disclosure: This is not trading or investment advice. 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