Bitcoin’s price recovered to around $73,000 in early March, after having fallen to the mid-$60,000 range from late January due to geopolitical unrest. What The Data Says Bitcoin’s price notable instability during the first trimester of the year seems to have a direct geopolitical correlation, CryptoQuant reports. Bitcoin dropped to around $63,000 on February 29, following the U.S.-Israel military strike on Iran on February 28 and the Iran heightened tensions in the Middle East. BTC had recovered near $70,000 by March 2, and by March 4 and 5 the price pushed to above $73,000 due to strong buying pressure. Related Reading: Bitcoin Reclaims $73,000 Amid Iran War Volatility, But Analyst Issues Key Warning Geopolitics In The Bitcoin Price CryptoQuant highlights a classic short squeeze dynamic on the derivatives side. A short squeeze happens when when the price of an asset rises very suddenly and to the upside, which forces traders to buy back their shorts as price reverses. As the sellers get pushed out, the price rises even further due to liquidations. Funding rates turned negative and futures open interest climbed during the dump, signaling that many traders were opening or adding short positions into the Iran headlines. Bitcoin price on Coinbase Premium Index. Source: CryptoQuant As the conflict failed to escalate further and ETF demand stayed positive, Bitcoin’s price pushed higher, triggering liquidations of late shorts and driving funding back toward neutral, rebounding toward the high‑$60K / $70K area. In CryptoQuant’s words, the episode looks like a temporary liquidity and positioning shock layered on top of the existing trend, not the start of a new war‑driven regime. Bitcoin: Open Interest - All Exchanges, All Symbol. Source: CryptoQuant The Iran‑related sell‑off was primarily a flow‑event rather than a structural shift in holder behavior: it was less about investors “fleeing to safety” and more about how positioning and liquidity interacted around the shock. Related Reading: Bitcoin Slides Again as Iran War Jitters Hit BTC, Risk Assets A Broader Picture This episode is not an outlier but part of a pattern in Bitcoin’s price on‑chain behavior across major conflicts. From Ukraine and Gaza to the recent crisis in Venezuela, they all display the same signature: a sharp, fear‑driven spike in coins moving onto exchanges around the event window, followed by a rapid normalization back to baseline as price re‑anchors to its prior trajectory. That was exactly what emerged during the Venezuela escalation, where military headlines amplified intraday volatility but failed to trigger a sustained distribution phase or a structural trend change. Wars and geopolitical conflicts inject short‑term stress into flows, but once the initial panic fades, Bitcoin tends to revert to the macro trend that was already in place. BTC's price trends to the downside on the daily chart. Source: BTCUSD on Tradingview Cover image from ChatGPT, BTCUSD chart from Tradingview
Bitcoin is climbing again, up over 7% this week. Whether that means the worst is over, or whether $40K is still ahead, depends entirely on who you ask. Right now, the market is deeply divided. The Signal Bitcoin Bulls Are Watching Crypto analyst Michaël van de Poppe flagged something significant today. Bitcoin has hit a …
An analyst has highlighted how Bitcoin has consistently bottomed out between the 1.0 and 0.8 MVRV pricing bands during the past decade. Bitcoin Still Hasn’t Breached Below 1.0 MVRV Band In This Cycle In a new post on X, analyst Ali Martinez has talked about historical Bitcoin bottoms from the perspective of the MVRV Pricing Bands. This is an on-chain pricing model for BTC that’s based on the popular Market Value to Realized Value (MVRV) Ratio. Related Reading: Altseason Mentions Hit Extreme Lows: Is Dogecoin About To Benefit? The MVRV Ratio measures how the market cap of BTC, a representation of the value that investors are carrying in the present, compares against the Realized Cap, a proxy for the total capital invested into the cryptocurrency. In short, this indicator tells us about the profit-loss balance of BTC holders as a whole. When the value of the MVRV Ratio is greater than 1.0, it means the average investor is currently holding a net unrealized profit. On the other hand, it being under the threshold implies the dominance of losses on the network. Generally, the higher the investor profits get, the more likely they become to take part in profit-taking. Thus, tops can become more likely to occur as the MVRV Ratio diverges far above 1.0. Similarly, selling can reach exhaustion when the majority of the supply is underwater, implying bottoms may become probable at low MVRV levels. Based on these behaviors, on-chain analytics firm Glassnode has created the MVRV Pricing Bands, which is a model that highlights Bitcoin price levels corresponding to certain key MVRV Ratio levels. Below is the chart for the indicator shared by Martinez. From the graph, it’s visible that the Bitcoin price has been trading below both the 2.4 and 3.2 bands for a while now. These levels, situated around $130,000 and $174,000, respectively, correspond to thresholds where profit realization risk becomes significant. The cryptocurrency has faced bearish momentum recently, but its price has continued to hold above the 1.0 level. This means that despite the drawdown, the investors as a whole have remained in a state of net unrealized gain. In the chart, the analyst has pointed out a pattern that Bitcoin has tended to follow with MVRV Pricing Bands. “Over the past decade, Bitcoin $BTC has consistently bottomed between the 1.0 and 0.8 MVRV Pricing Bands,” said Martinez. Currently, these levels sit near $54,000 and $43,000, respectively. Related Reading: Bitcoin LTH Selling Cools: Is Months-Long Distribution Finally Ending? It now remains to be seen whether BTC will continue to go down in the near future and retest this historical bottoming zone, or the asset will find a low before it, breaking the pattern from the previous cycles. The coin has already broken one pattern this time: it hasn’t been able to breach the 3.2 level a single time. BTC Price At the time of writing, Bitcoin is trading around $73,000, up more than 6% over the past week. Featured image from Dall-E, chart from TradingView.com
Bitcoin price today traded above $71,000 after moving past a short-term resistance level, triggering a wave of liquidations that lifted the broader cryptocurrency market. The move comes as traders debate whether the market is shifting out of a long consolidation phase. BTC Price pushed through the $71,000–$72,000 range on lower time frames, confirming a short-term …
As the crypto markets rebounded on Wednesday, Bitcoin (BTC) bounced back from the recent selloff triggered by the escalating Middle East conflict, targeting a surge toward high levels. While some market observers see this as a sign of strength and potential bottoming, others warn that the rally could be short-lived. Related Reading: Bitcoin Leads Crypto Funds’ $1 Billion Rebound To End 5-Week Negative Streak Bitcoin Shows Strength Despite Growing Geopolitical Fears On Wednesday, Bitcoin surged 8.3% to trade above the $72,000 barrier for the first time in a month. The cryptocurrency has been trading between the $63,000-$73,000 price range since early February, but it has failed to break past the $70,000 mark throughout this period. Notably, the escalation of the US-Israel war with Iran has introduced significant volatility to risk assets, including cryptocurrencies. This resulted in sharp declines on Saturday, with BTC dropping to $63,000. However, the flagship crypto’s price quickly stabilized around the mid-zone of its local range, followed by a partial recovery above the $68,000 area at the start of the week. Now, Bitcoin has surged 15.87% from its recent lows, reaching a one-month high of $73,479 on Wednesday morning despite increasing geopolitical tensions. In a recent Bits + Bips podcast episode, Chris Perkins, Managing Partner and President of CoinFund, highlighted that BTC’s signs of strength and resilience, alongside signs of liquidity entering the market, are a “good setup” for a potential bottoming. It’s worth noting that US spot Bitcoin Exchange-Traded Funds (ETFs) have seen a remarkable performance over the past two days, with $683.34 million in inflows since Monday, suggesting increasing demand for the investment products. Alex Kuptsikevich, chief market analyst at FxPro, told Bloomberg, “This is a victory for cryptocurrencies, given the impressive selloff those financial markets and gold experienced the day before,” adding that “perhaps some traders are looking at crypto as a safe haven.” Too Early To Call BTC’s Bottom Despite the rebound, Kuptsikevich also warned that the situation remains “too fragile” to declare the market bottom. He explained that “Bitcoin is vulnerable due to the increased volatility of stock indexes, which is forcing institutional investors to reduce their leverage.” Meanwhile, market observer Ted Pillows suggested that BTC’s rally could be short-lived, drawing a comparison between the flagship crypto’s current performance and its early 2022 price action when the Russia-Ukraine war started. As the analyst noted, Bitcoin, which had already begun correcting from its 2021 all-time high, saw initial volatility when the conflict erupted, but pumped almost 40% in the following month before dumping another 67%. BTC targets a potential 45% correction toward the $40,000 area. Source: Ted Pillows on X This time, BTC is beginning to display a similar performance, which could lead to a 20%-25% rally toward the $78,000-$80,000 zone, according to the market watcher. However, this rebound could be followed by a strong rejection at this key horizontal area. Related Reading: Long-Term Bitcoin Holders Buy $14 Billion In BTC As Retail Headed For The Exit If history repeats, the next phase of the cryptocurrency’s downtrend could begin soon, Ted Pillows cautioned, potentially sending the price 45% below the rally’s potential peak prices. Analyst Ali Martinez observed that Bitcoin has consistently bottomed between the 1.0 and 0.8 MVRV Pricing Bands over the past decade. According to the chart, this would place BTC’s potential bottom between the $43,647-$54,559 levels. As of this writing, Bitcoin is trading at $73,255, a 10% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
The US government is sitting on roughly 378,372 Bitcoin worth more than $24 billion, according to data from Arkham Research. Yet more than a year after US President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve, no new Bitcoin has been purchased. Related Reading: Iran’s Crypto Market Shaken As Outflows Skyrocket 700% The government has not gone beyond the digital assets it already held from criminal seizures. David Bailey, a former crypto advisor to the Trump administration, says that gap tells the whole story. Liking Is Not Enough: Bailey “Liking Bitcoin is not enough,” Bailey said last week at the Bitcoin Investor Week Conference in New York City. He was direct about what he sees as the difference between political goodwill and real action. His view: Trump’s support for Bitcoin has been real, but support alone does not move markets or policy. Spending Political Capital Is The Hard Part Bailey said the administration made an important first step. But first steps, he argued, do not automatically lead to second ones. Without a willingness to push through resistance — from budget hawks, from skeptical lawmakers, from a political system that does not easily bend to new financial ideas — the reserve order remains mostly symbolic. Reports say the White House’s own AI and crypto coordinator, David Sacks, acknowledged the challenge early. Just two months after the executive order was signed, Sacks said adding to the government’s Bitcoin holdings would require a “budget-neutral” approach — meaning no new taxes and no new debt. That constraint has proven difficult to work around. No framework for how to meet it has been made public. Bailey did not spare the hard language. “Unless you’re willing to bear the political capital necessary to mobilize the different gears necessary to move the ball forward,” he said, the outcome is the same whether a politician likes Bitcoin or not. He called out the difference between voicing an opinion and doing the work to back it up. Bailey Says Bitcoin Wins Either Way Despite the criticism, Bailey stopped well short of pessimism. He told the conference audience that Bitcoin does not need government action to survive or grow. The question, as he framed it, is only one of timing. Related Reading: Long-Term Bitcoin Holders Buy $14 Billion In BTC As Retail Headed For The Exit “Whether it’s four years from now, or 10 years from now, or 20 years from now,” he said, “we will get to the point where we actually have a government that is conducive to the rules we need for Bitcoin to be successful.” Bailey now runs KindlyMD, a Bitcoin treasury company, and he made clear his focus is on expanding ownership rather than waiting on Washington. More Bitcoin owners means more voters who have a personal stake in pro-Bitcoin policy — and that, he argued, is what makes adoption inevitable over time. Featured image from Pixabay, chart from TradingView
Selling pressure across the crypto market is easing as Bitcoin has surged past the $73,000 mark for the first time in several weeks. The move has improved overall market sentiment, with Ethereum and other major altcoins like XRP also showing renewed strength. As Bitcoin regains momentum, capital is gradually flowing back into the broader crypto …
Bitcoin is regaining momentum after reclaiming the $70,000 level, signaling renewed strength following weeks of consolidation and volatile price action. The move above this key psychological threshold has helped stabilize sentiment across the market, as investors assess whether the recent correction has begun to transition into a new accumulation phase. Related Reading: The Quiet Accumulation: 13,500 Bitcoin Leaving Binance Signals A Strategic Whale Pivot at $66,000 At the same time, new on-chain data is providing insight into how certain entities are positioning within the network. According to blockchain analytics platform Arkham, American Bitcoin — the mining operation associated with the Trump family — is actively mining Bitcoin and retaining the newly generated coins in its on-chain wallets rather than distributing them immediately to the market. This behavior is noteworthy because miner activity plays an important role in Bitcoin’s supply dynamics. When miners choose to hold rather than sell their rewards, the immediate circulating supply available to exchanges decreases. Over time, this can influence market liquidity and contribute to tightening supply conditions, particularly if sustained across multiple participants in the mining sector. The development also intersects with the broader conversation around the concept of a strategic Bitcoin reserve. Mining operations that accumulate rather than liquidate their output effectively transform operational activity into long-term treasury positioning within the Bitcoin ecosystem. American Bitcoin Expands Mining Capacity While Building a Large BTC Treasury Arkham data further illustrates the scale of American Bitcoin’s current mining and accumulation strategy. According to the platform, the operation has mined approximately 766 BTC so far this year, representing roughly $54.39 million at current market prices. Rather than immediately distributing these rewards to cover operational costs, the mined coins appear to be held in on-chain wallets, reinforcing the company’s accumulation-oriented approach. In total, American Bitcoin’s holdings now stand at around 6,100 BTC, with a combined value exceeding $433.7 million. For a mining operation, maintaining reserves of this magnitude signals a strategic treasury position rather than a purely transactional mining model. Historically, miners often sell a portion of their rewards to finance infrastructure, electricity, and operational expenses. Holding a large share of mined Bitcoin instead reflects confidence in the asset’s long-term value proposition. The company is also expanding its operational capacity. Arkham reports that American Bitcoin recently acquired an additional 11,000 Bitcoin mining machines to scale its future hash power. Increasing hardware capacity allows the operation to compete more effectively for block rewards and transaction fees as the network’s mining difficulty continues to evolve. Combined, these developments highlight how some mining entities are increasingly integrating production with long-term Bitcoin accumulation strategies. Related Reading: Surpassing FTX-Era Lows: 38% Of Altcoins Hit Record Lows As Liquidity Abandons The Crypto Fringe Bitcoin Tests Key Long-Term Support After Sharp Pullback Bitcoin’s weekly chart shows the market attempting to stabilize after a significant correction from the cycle highs set earlier in the year. Price is currently trading around $70,000, following a sharp rejection from the $110,000–$115,000 region, which marked the local top of the recent bullish expansion phase. From a structural perspective, the correction has pushed Bitcoin back toward the confluence of major moving averages that historically act as dynamic support during bull markets. The price is now hovering near the 50-week moving average, while the 100-week moving average sits slightly below current levels. These zones often function as equilibrium areas where long-term participants reassess positioning. Related Reading: The $650M Wave: Why XRP’s Record Inflow To Binance Signals A Massive Institutional Retreat Importantly, the 200-week moving average remains far below the current market price, continuing to slope upward. This suggests that, despite the recent drawdown, the broader macro trend still maintains a constructive long-term structure. Volume patterns on the chart indicate that selling pressure intensified during the initial breakdown from the highs but has gradually decreased as price approached the $65,000–$70,000 region. This decline in aggressive selling activity may indicate that the bulk of forced liquidations has already occurred. If Bitcoin can consolidate above this zone, it could establish a base for renewed accumulation. However, a sustained breakdown below the $65,000 area would expose the market to deeper retracement toward the $60,000 region. Featured image from ChatGPT, chart from TradingView.com
Paraguay’s state‑owned electricity monopoly, Administración Nacional de Electricidad (ANDE), has signed a Memorandum of Understanding (MoU) with infrastructure firm Morphware to launch a government‑run Bitcoin mining program powered by thousands of confiscated mining machines and surplus hydroelectric power. Related Reading: Bitcoin Slides Again as Iran War Jitters Hit BTC, Risk Assets What Does This Entail? In a first‑of‑its‑kind move, Paraguay state power company is about to become a Bitcoin miner. ANDE has signed a formal agreement with Morphware to to build a state‑run mining program that uses two things the country already has in abundance: seized mining rigs and cheap hydroelectric power from the Itaipú dam. In practice, ANDE will host and own the mining operations. Instead of exporting that energy at low, treaty‑defined prices, the utility will route part of it into Bitcoin mining facilities it controls. Morphware will act as a technical advisor rather than a speculative partner: according to Morphware founder and CEO Kenso Trabing, because ANDE has no experience mining Bitcoin, the company’s role will be “an advisory one. The pilot phase will plug in about 1,500 seized miners at existing utility buildings located next to substations, which can be converted into basic mining facilities with ventilation, transformers, distribution units, and proper metering. Related Reading: Next “Binance Killer”? Hyperliquid Now Dominates DeFi Derivatives, New Report Shows Seizing Background This decision follows a series of nationwide raids since early 2024, as ANDE moved against unmetered and fraudulent high‑voltage connections used by illegal miners. Most of the machines going into this program were seized between May and June 2024, when authorities intensified inspections in mining hotspots. In Salto del Guairá alone, ANDE confiscated 2,738 mining rigs after detecting an unmetered high‑load connection worth roughly 1.1 billion guaraníes (around 146,000 dollars) in stolen power every month, alongside dozens of similar operations that pushed the total stockpile of seized ASICs close to 30,000 units. Another State Turning To Bitcoin Paraguay’s move slots into a small but growing group of states that appear to be trying to turn energy policy into hash rate. El Salvador has already folded Bitcoin into its official toolkit, pointing geothermal power from state‑run plants into mining facilities and adding those coins to a government‑controlled BTC stockpile alongside its “volcano bond” ambitions, as reported by our sister website Bitcoinist. Further east, Bhutan’s sovereign wealth fund has quietly operated hydro‑powered mining since at least 2019, using surplus electricity from its dams to accumulate Bitcoin on the kingdom’s balance sheet and, more recently, to back new digital‑asset and “mindfulness city” projects. Paraguay’s ANDE–Morphware experiment is the hydro‑rich, Latin American version of that same playbook: keep the energy domestic, own the infrastructure, and let the state, not just private miners, capture the upside. BTC's price trends to the upside on the daily chart. Source: BTCUSD on Tradingview Cover image from ChatGPT, BTCUSD chart from Tradingview
Bitcoin is showing tentative signs of relief after reclaiming the $70,000 level. A move that haskeepingsed selling pressure following weeks of volatile trading. The recovery comes as markets continue to react to macro uncertainty and geopolitical tensions. Which have kept liquidity fragile and investor sentiment cautious. While the push above $70K offers a short-term improvement in momentum, the underlying data suggests that a significant portion of market participants remain under pressure. Related Reading: The Quiet Accumulation: 13,500 Bitcoin Leaving Binance Signals A Strategic Whale Pivot at $66,000 According to a recent CryptoQuant report, holders of spot Bitcoin ETFs — which broadly reflect institutional and retail demand through regulated investment vehicles — are currently positioned below their estimated average realized price. Calculated at roughly $79,000, this cost basis leaves the average ETF investor holding a loss despite the recent rebound. Treat this metric as a reference point, not as a precise measurement of individual investor behavior. ETF flows can obscure internal reallocations between participants, and the estimate cannot perfectly capture every underlying transaction within the funds. Nevertheless, it provides a useful approximation of the aggregate entry level for ETF capital. ETF Outflows Ease After Record $8.9B Drawdown as Bitcoin Attempts Stabilization Darkfost’s analysis highlights the scale of the recent pressure across spot Bitcoin ETFs. With Bitcoin trading below the $70,000 threshold during much of the correction, these funds recorded the largest drawdown since their all-time high in terms of invested value. In dollar terms, more than $8.9 billion flowed out of the ETF ecosystem as investors reduced exposure during the downturn. The pressure was particularly visible in the largest product in the market. BlackRock’s iShares Bitcoin Trust (IBIT), which once held more than 806,000 BTC at its peak, saw substantial withdrawals throughout the correction. According to the data, over 42,000 BTC exited the fund, reflecting a clear wave of distribution as market sentiment deteriorated and price momentum weakened. These outflows represented a significant source of selling pressure during the decline, reinforcing the broader weakness across spot markets. When large ETFs experience withdrawals, they often need to redeem Bitcoin to meet redemptions, increasing supply on the market. However, recent data suggests the situation may be stabilizing. The cumulative drawdown from ETF holdings has improved from roughly −$8.9 billion to around −$7.8 billion from the peak. While still negative, this shift indicates that the pace of outflows is slowing. A renewed wave of demand from ETF investors would likely help Bitcoin establish a stronger structural base moving forward. Related Reading: Surpassing FTX-Era Lows: 38% Of Altcoins Hit Record Lows As Liquidity Abandons The Crypto Fringe Bitcoin Reclaims $70K as Short-Term Momentum Improves On the 4-hour chart, Bitcoin is showing short-term recovery momentum after pushing above the $70,000 level. Price has managed to reclaim the 50-period moving average (blue) and is now testing the 100-period moving average (green), signaling improving short-term strength after weeks of consolidation and lower highs. The recent move above $70K represents an important psychological shift. Throughout late February, the $69,000–$70,000 region acted as a consistent rejection zone where sellers repeatedly capped upside attempts. The latest breakout suggests that buyers are beginning to absorb that supply, at least in the short term. Related Reading: Bloodbath Or Buy-Zone? Bitcoin’s $66K Stagnation Hits The 25% Loss Threshold Historically Tied To Market Bottoms However, the broader structure remains cautious. Bitcoin is still trading below the 200-period moving average (red), currently positioned near the mid-$70K range. This level continues to represent the key resistance that would need to be reclaimed to confirm a stronger trend reversal. Volume has modestly increased during the breakout attempt, indicating renewed participation, though not yet at levels typically associated with sustained bullish expansions. From a technical perspective, holding above $69,000 will be critical for maintaining momentum. If this level flips into support, BTC could attempt a move toward the $73,000–$75,000 region. Conversely, a failure to hold above $69K could return the price to the broader consolidation range around $66,000–$67,000. Featured image from ChatGPT, chart from TradingView.com
Bitcoin price started a steady increase above $70,000 and $72,000. BTC is now consolidating and might aim for more gains above $72,800. Bitcoin started a fresh increase after it settled above the $68,800 support. The price is trading above $70,000 and the 100 hourly simple moving average. There is a bullish trend line forming with support at $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip again if it trades below the $72,000 and $70,800 levels. Bitcoin Price Rallies Above $70,000 Bitcoin price managed to form a base above the $67,500 zone. BTC started a fresh increase and was able to surpass the $68,800 resistance zone. The price even rallied above the $70,000 resistance. Finally, the bears appeared near $74,000. A high was formed at $74,062, and the price recently corrected some gains. There was a move below $73,000, and the price declined toward the 23.6% Fib retracement level of the upward move from the $66,164 swing low to the $74,062 high. Bitcoin is now trading above $70,000 and the 100 hourly simple moving average. There is also a bullish trend line forming with support at $68,000 on the hourly chart of the BTC/USD pair. If the price remains stable above $70,000, it could attempt a fresh increase. Immediate resistance is near the $72,800 level. The first key resistance is near the $73,500 level. A close above the $73,500 resistance might send the price further higher. In the stated case, the price could rise and test the $74,000 resistance. Any more gains might send the price toward the $75,000 level. The next barrier for the bulls could be $76,800 and $77,200. Downside Correction In BTC? If Bitcoin fails to rise above the $72,800 resistance zone, it could start another decline. Immediate support is near the $72,200 level. The first major support is near the $72,000 level. The next support is now near the $70,000 zone or the 50% Fib retracement level of the upward move from the $66,164 swing low to the $74,062 high. Any more losses might send the price toward the $68,800 support in the near term. The main support now sits at $68,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $72,000, followed by $70,000. Major Resistance Levels – $72,800 and $73,500.
Arthur Hayes was wrong before. In December, the BitMEX co-founder predicted Bitcoin would hit $200,000 by March 2026. It didn’t. Bitcoin is trading near $71,000. Hayes is now calling for $500,000 to $750,000 by the end of the year, and his reasoning runs straight through the Middle East. Related Reading: Iran’s Crypto Market Shaken As Outflows Skyrocket 700% War, Spending, And The Fed Hayes argues that a prolonged US military conflict involving Iran would put severe pressure on federal finances. As government spending climbs, he believes policymakers would face little choice but to cut interest rates and pump more money into the financial system. That combination — loose monetary policy and expanding liquidity — is what he thinks sends Bitcoin sharply higher. The argument is grounded in history, at least partially. During the 1990 Gulf War, Federal Open Market Committee members openly cited Middle East instability as a factor in their deliberations. Crypto billionaire Arthur Hayes is predicting a $500k – $750k Bitcoin by end of 2026??? Trump admin + Iran conflict + Fed easing = ???????? He explains: pic.twitter.com/AU23sd216a — Altcoin Daily (@AltcoinDaily) March 2, 2026 By late 1990, the Fed had cut rates as economic confidence dropped. After the September 11 attacks in 2001, then-Fed Chair Alan Greenspan pushed for an emergency 50-basis-point cut, which was implemented almost immediately. Markets steadied shortly after. Hayes draws a direct line from those episodes to what he sees unfolding now. Large military operations cost hundreds of billions. Fiscal pressure builds. The Fed eventually eases. Risk assets, including Bitcoin, rise. A Pattern Hayes Has Bet On Before He made this case publicly in a Substack post, where he wrote that investors could find a meaningful entry point once the Fed begins cutting rates or expanding the money supply. He named Bitcoin and a handful of what he called high-quality altcoins as the assets best positioned to benefit once that shift begins. The key moment, in his view, is not the conflict itself but what comes after. Rate cuts and fresh liquidity, he argues, are what actually move prices. Related Reading: Long-Term Bitcoin Holders Buy $14 Billion In BTC As Retail Headed For The Exit The Gap Between The Forecast And The Chart Bitcoin’s current price tells a different story from Hayes’ projections. The coin sits roughly half its October peak of $126,000. While gold and oil climbed after US and Israeli strikes killed Iranian Supreme Leader Ali Khamenei, Bitcoin did not follow. It sold off initially before recovering to current levels. That disconnect — commodities rallying while Bitcoin lags — has not shaken Hayes’ outlook. His $500,000 to $750,000 call remains intact, pinned to the belief that monetary policy, not headlines, is what ultimately drives the price. Whether the Fed moves in that direction depends on how long and how costly the conflict becomes. Featured image from US Air Force, chart from TradingView
Bitcoin climbed back above $71,000 on Wednesday, reaching its highest level since February 8, even as broader geopolitical risk remained elevated. The move appears to have been triggered by a sudden shift in macro sentiment around Iran, but market structure inside crypto had already left BTC primed for a sharp reversal. Why Is The Bitcoin Price Up Today? The immediate catalyst came from a report cited by The Kobeissi Letter, which said the New York Times had reported that Iran made a “secret” offer to the US to negotiate an end to the war. According to Kobeissi, the proposed framework included Iran abandoning or sharply curtailing its ballistic missile and nuclear programs, as well as reducing support for proxy groups, while President Donald Trump had “suggested” Iran’s surviving leaders could remain in power under a so-called “Venezuela model.” Related Reading: Bitcoin To $11 Million By 2036? This AI-Deflation Thesis Is Turning Heads Kobeissi added that “it remains unclear if a deal is feasible at this point in time,” but the timing matched a rapid risk-on reaction across US stock futures markets as well as Bitcoin. That macro headline helps explain the spark. It does not fully explain why Bitcoin reacted more forcefully than stocks and gold. For that, the positioning backdrop matters. BREAKING: US stock market futures surge as the New York Times reports that Iran made a “secret” offer to the US to negotiate a deal to end the war. Potential terms include: 1. Iran to abandon or drastically curtail its ballistic missile and nuclear programs 2. Iran to abandon… https://t.co/IsF3saWl1A — The Kobeissi Letter (@KobeissiLetter) March 4, 2026 Vetle Lunde, head of research at K33 Research, argued that Bitcoin entered the latest week in an unusually compressed state after months of persistent weakness. “Bitcoin entered the weekend heavily oversold, heavily shorted, and significantly underowned,” Lunde wrote. “First and foremost, the context for BTC ahead of the war in Iran is wildly different from other asset classes. Bitcoin had fallen 50% after five continuous months of downside. The weekly RSI fell to its third lowest reading ever, meaning BTC entered the week uniquely oversold.” In other words, Bitcoin was not coming into the geopolitical shock from a position of strength. It was coming in after a deep washout. Lunde also noted that institutional exposure had already been cut back materially, with spot ETFs seeing outflows of nearly 100,000 BTC and notional CME open interest falling 30% from October levels. That matters because investors most likely to use BTC as a hedge against uncertainty had, in his view, already reduced exposure, loosening the asset’s correlation to traditional macro trades. Related Reading: Bitcoin Sentiment On Wall Street Has Turned Negative, Galaxy’s Thorn Says Inside derivatives, the setup looked even more asymmetric. Lunde said perpetual funding rates had been unusually low and that traders had spent much of February paying a premium to stay short. “This is atypical market behavior for BTC, an asset with a distinct long bias,” he wrote. “Similar funding rate regimes have often appeared during bottoming phases and have historically reflected imbalances, overcrowding, and sell-side exhaustion.” That imbalance began to unwind quickly as price turned. In a follow-up post, Lunde said Binance BTCUSDT perpetual open interest had risen by 7,547 BTC in just four hours, a jump he said had not been seen on a comparable 4-hour basis since 2023. That suggests the rally was not just a spot reaction to headlines, but also a derivatives-led repositioning event. Crypto contributor Darkfost pointed to similar evidence. He noted that Bitcoin’s rebound above $70,000 came alongside five consecutive days of spot ETF inflows and a decisive turn in aggressive derivatives buying. On Binance, the BTC Taker Buy Sell Ratio reached 1.18, its highest reading of the year, while taker buy volume exceeded $1 billion per hour multiple times during the session. Taken together, those signals suggest buyers are no longer simply absorbing selling pressure; they are beginning to dictate short-term price action. At press time, BTC traded at $70,851. Featured image created with DALL.E, chart from TradingView.com
On March 4, US President Donald Trump officially nominated Kevin Warsh as Chairman of the US Federal Reserve. Following Senate approval, Warsh will succeed Jerome Powell, whose second four-year term expires on May 15, 2026. Bitcoin and other markets’ reaction to the announcement In the past decade, Warsh has compared Bitcoin to gold on several …
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin (BTC) has climbed back above the $73,000 level for the first time since early February, marking a notable recovery for the cryptocurrency. As momentum builds, some analysts believe the move could extend further if current trends remain intact. Among them is market analyst Ali Martinez, who shared his outlook in a recent post on X. According to Martinez, Bitcoin may be positioning itself for what he describes as a potential relief rally. ETF Accumulation And Thin On-Chain Resistance From an on-chain standpoint, Martinez highlighted the role of spot Bitcoin exchange-traded funds (ETFs), which continue to absorb supply at a steady pace. He noted that ETFs purchased approximately $776 million worth of BTC last week alone. The pace has not slowed this week. Since the week began on March 2, ETF inflows have already reached around $789 million — and the week is still ongoing. That scale of accumulation points to sustained institutional demand, which can provide meaningful support during breakout attempts. Related Reading: MARA Revises Bitcoin Treasury Strategy, Opens Door To Selling $3.5 Billion In BTC Beyond capital flows, Martinez also pointed to blockchain data that suggests limited resistance immediately above current price levels. Using the URPD (UTXO Realized Price Distribution), he observed that a major resistance cluster previously sat near $70,685. With Bitcoin now above the key price zone of $72,000, the supply concentration between this area and $81,000 appears comparatively thin. According to CoinGecko data, the BTC price has surged 7% to $73,200 at the time of writing. In practical terms, this means there are fewer historically established sell levels within that range. If buying pressure continues to build, Martinez believes that the Bitcoin price could move more freely through this “low supply” area. Bitcoin Rally Could Extend Toward $84,000 The next significant concentrations of supply, according to Martinez, are positioned around $83,307 and $84,569. Those levels may serve as stronger resistance should Bitcoin’s rally extend into that territory. Related Reading: CFTC Chair Says Crypto Perps Approval Is Close — Why This Is Huge For Hyperliquid? Martinez concluded that a confirmed breakout above current levels, supported by persistent ETF inflows, lighter on-chain resistance, and strengthening technical structure, could create the conditions for a short-term expansion higher. Featured image from OpenArt, chart from TradingView.com
A crypto analyst has pinpointed critical price levels from past cycles on the Bitcoin chart that could determine the cryptocurrency’s next moves in this cycle. He has highlighted Bitcoin’s former all-time high target of $65,000 and a distinct 200-week Simple Moving Average (SMA) at $58,000 as key levels to watch. Bitcoin’s 200W SMA Highlighted As Key Watch Zone Crypto analyst VirtualBacon has taken to X to share new technical chart analysis, outlining two critical Bitcoin price levels he believes investors and traders should watch as the cryptocurrency continues its downward slide. Elaborating further in a video, VirtualBacon pointed to $65,000 and $58,000 as the zones worth paying attention to for anyone seeking a good buy opportunity in the current market environment. Related Reading: Elliot Wave Theory Says Bitcoin Price Is Headed To $40,000, But The End Game Will Shock You VirtualBacon highlighted $58,000 as his most closely watched level, where the 200W SMA currently resides. The analyst described this indicator as one of the most consistently reliable buying zones in Bitcoin’s history, citing a track record spanning multiple market cycles. He noted that during the 2015 bear market, Bitcoin’s price touched the 200W SMA four times without ever closing below it on a weekly candle. In 2018, the 200W SMA marked the absolute bottom of that cycle’s sell-off. The COVID-19 crash of 2020 also found support precisely at this same level. The one exception came in June 2022, when the price briefly wicked below the average before consolidating, then declined further by 25% following the collapse of FTX later that year. VirtualBacon acknowledged the 2022 breakdown but emphasized that the 200W SMA near $58,000 remains a highly significant level, given how consistently it has served as a floor throughout Bitcoin’s history. In his view, the $58,000 level represents an area where long-term investors have historically stepped in, often accumulating at the bottom ahead of a strong price rally. Analyst Marks Former Bitcoin ATH As Buying Opportunity In his analysis, VirtualBacon identified $65,000 as the first level to watch, which corresponds to Bitcoin’s previous all-time high from the 2021 bull cycle. The analyst noted that Bitcoin has already reached this area in the current cycle, arguing that, historically, former ATHs often become meaningful support when price revisits them. For investors who agree with this thesis, the analyst has suggested considering $65,000 as a potentially reasonable entry point into the market. Related Reading: Bitcoin Fear Has Been This Low Only 2 Times In History, Here’s What Follows Each Time Notably, VirtualBacon’s Bitcoin analysis comes at a time when sentiment across the crypto market remains fragile, with retail investors unsure whether the decline in the BTC price signals a strategic buying opportunity or the beginning of a deeper pullback. Bitcoin’s prolonged sideways trading has also done little to restore confidence, instead fueling fear among market participants. Earlier this week, the cryptocurrency briefly fell below $64,000 after reports emerged about the US and Israel airstrikes on Iran. The cryptocurrency has since rebounded above $70,000, marking a 24-hour increase of more than 8%. Featured image from Pixabay, chart from Tradingview.com
The cryptocurrency market staged a strong rally today, with Bitcoin climbing past $73,000 and lifting the broader market alongside it. The sudden surge pushed the total crypto market capitalization to roughly $2.47 trillion, marking one of the strongest intraday moves in recent weeks. Bitcoin led the advance, trading near $72,700–$73,000 after gaining more than 5.5% …
Bitcoin rose above $70,000 today for the first time since early February, extending a rebound that is starting to look less like a brief relief rally and more like a market trying to reverse momentum after months of heavy selling. CryptoSlate data showed Bitcoin gaining over 7% on the day, lifting the flagship digital asset […]
The post Bitcoin bears could walk into a brutal short squeeze next as BTC retakes $70k appeared first on CryptoSlate.
Bitcoin’s market cycles have often followed recognizable technical structures, and one analyst now believes those repeating structures may already be pointing toward the next major bottom. This is the foundational principle behind why Elliott Wave, Harmonic Patterns, and Wyckoff theory work: trade an asset long enough, and it begins to show a pattern memory. Right now, that memory is speaking. And it’s pointing to a Bitcoin price bottom below $40,000. Pattern Memory And Bitcoin’s Retracement History A chart shared by market commentator Lisa N Edwards outlined how Bitcoin’s retracement behavior could determine where the current cycle eventually stabilizes during the current downturn. The analysis revolves around the concept of pattern memory, the idea that assets with long trading histories tend to repeat certain behavioral patterns across cycles. Related Reading: XRP Price At $100 Is ‘Inevitable’, Analyst Explains Why This Is Pattern memory shows that Bitcoin’s previous market cycles have consistently ended near specific Fibonacci retracement levels from the previous peak. These levels have always acted as areas where the Bitcoin price finally found a durable bottom before beginning a new bull phase. During the 2013 cycle, Bitcoin ultimately formed its bottom near the 0.86 Fibonacci retracement. The 2017 cycle followed a similar structure, once again reaching the 0.86 retracement low before a new accumulation phase began. However, the 2021 market cycle bottom occurred slightly higher, around the 0.786 retracement level. Bitcoin Price Chart. Source: @LisaNEdwards On X Bitcoin Pattern Memory: Where Is The Next Real Bottom? If October 2025 was the true cycle high for Bitcoin, as the monthly chart on the 1M timeframe suggests, then history gives us a roadmap for where price is likely headed before the next major bull run begins. Applying the same retracement framework to the current market cycle produces a range where Bitcoin may eventually bottom if history repeats. Mapping the current cycle’s Fibonacci retracement from the cycle low to the October 2025 high reveals three critical zones. The 0.618 sits at approximately $57,000-$58,000, which also aligns closely with the Weekly 200 Moving Average. However, this level alone may not represent the final low, based on how previous cycles behaved. Related Reading: XRP Price About To Enter ‘Face-Melting Phase’, And The Target Is $27 Instead, deeper retracement levels appear more consistent with historical patterns. This is where the 0.786 and 0.86 retacements come into play. The 0.786 retracement level sits near $39,000 and coincides with the monthly 100-moving average. Beneath that, the 0.86 retracement level falls around $31,000. Both levels have previously defined major cycle bottoms; therefore, Bitcoin’s next long-term low could be somewhere within the $39,000 to $31,000 range if the October 2025 peak proves to be the true cycle high. Some market commentators have floated lower downside targets, including projections that Bitcoin could revisit the $20,000 region. However, the pattern-memory analysis shows that such a drop would represent a complete breakdown of Bitcoin’s historical cycle behavior. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin climbed over the past 24 hours, raising a question across the market: how high can Bitcoin go this week? Bitcoin is currently trading near $71,370, up about 6.35% in the last 24 hours. The rally appears to be driven mainly by activity in derivatives markets, where a large number of bearish bets were suddenly …
Crypto analyst Javon Marks has predicted that the XRP price could rally 680% against Bitcoin, reaching $10 in the process. The analyst also indicated that the altcoin could rally higher, reaching the $15 target. XRP Price Eyes 680% Rally Against Bitcoin In an X post, Javon Marks stated that the XRP price against Bitcoin looks to be setting up for an over 680% run, which could spark a larger rally for the altcoin. He noted that this could lead to a move to the $10 price point for XRP. The analyst added that this price rally aligns with the current measured move target, which is above $15. Related Reading: Why XRP Is Being Hailed As The Top Trade Over Bitcoin And Ethereum An XRP price rally to as high as $15 would mark new all-time highs (ATHs) for the altcoin. Marks had, in an earlier analysis, alluded to how XRP outran Bitcoin by over 240%, when it rose by over 570%. As such, the analyst is confident that the altcoin could again significantly outperform the leading crypto. His accompanying chart showed that the XRP price could record this 680% rally against Bitcoin next year, a period which could mark a new bull market cycle for the crypto market. It is worth noting that XRP was one of the standout performers at the start of the year, outperforming Bitcoin and other major crypto assets, which led to CNBC describing it as the trade of the year. At the moment, the XRP price is facing downside pressure alongside Bitcoin and the broader crypto market due to the ongoing war between the U.S. and Iran. XRP has typically mirrored BTC’s price action during this period, declining when Bitcoin does and rallying when it does. XRP’s Price Action Is Still Corrective In an X post, crypto analyst Egrag crypto stated that the XRP price is still inside a descending channel and that momentum is currently corrective, not impulsive. As long as the altcoin remains within this channel, the analyst declared that XRP is in a distribution phase rather than a breakout. Related Reading: XRP Mirrors The Russell 2000, What This Means And Why It’s Important For the XRP price to flip bullish, Egrag Crypto stated that the first trigger will be $1.55, with a major invalidation of the bearish structure a weekly close above $2.20. A rally to this level could trigger a bullish continuation, opening the door to a rally to between $2.70 and $3.60, and then a new ATH will be on the cards. For the bearish scenario, Egrag Crypto predicted that the XRP price could drop to the $0.95 to $0.85 macro support if the altcoin faces rejection below the $1.55 level. He stated that there is a higher probability of the altcoin facing a deeper sweep to the downside than an early breakout reclaim. At the time of writing, the XRP price is trading at around $1.35, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Freepik, chart from Tradingview.com
K33 said bitcoin is heavily oversold after the prolonged sell-off, arguing there is "no compelling reason" to sell BTC at current levels.
Seventeen of the top 25 largest Bitcoin ETF holders added to their positions while ordinary investors were selling. That split tells a story that goes beyond a single month of on-chain data. Related Reading: Iran’s Crypto Market Shaken As Outflows Skyrocket 700% Smart Money Moves Against The Crowd Bitcoin exchange-traded funds pulled in $1.5 billion over five trading sessions, capping the stretch with a single-day inflow of $458 million — one of the strongest readings this quarter. Retail is leaving crypto at the fastest pace since October. During the same time, 17 of the top 25 largest Bitcoin ETF holders added more to their positions. Institutions now control roughly 12% of the total supply. This divergence shows they are here for a different reason… pic.twitter.com/ZiUFoG2WQZ — Zac Townsend (@ztownsend) March 3, 2026 That buying came as Bitcoin traded in the mid-$60,000 range, well off the October peak of $126,200 that triggered a broad retail exit. Data from analyst Zac Townsend shows retail traders have been dumping BTC at a fast clip since that high. Yet the biggest institutional players went the other direction, quietly stacking more. The gap between those two groups is stark. It reflects a split in confidence that analysts say often appears before major price moves — though the direction of any move is never guaranteed. ???? Over the past month, Long Term Holders added 212,000 BTC. pic.twitter.com/lr9Zfe4TtI — Maartunn (@JA_Maartun) March 3, 2026 Long-Term Holders Accumulate $14B Worth Of Bitcoin On-chain data tracked by CryptoQuant tells a similar story from a different angle. Bitcoin’s long-term holders — wallets that have sat on their coins for at least 150 days — added 212,000 BTC over the past 30 days. At current prices, that haul is worth more than $14 billion. CryptoQuant verified author J.A. Maartunn flagged the trend in a post Tuesday, pointing to the platform’s Long-Term Holder Net Position Change metric. The tool measures whether this class of holders is buying or selling over any given 30-day window. A reading above zero signals accumulation. Below zero means they’re distributing. For most of 2025, that metric sat in negative territory. Long-term holders were selling — heavily. Reports indicate the shift began as Bitcoin retested multi-year price lows and selling pressure started to ease. That’s when buyers in this category came back in force. Related Reading: Crypto’s Quietest Month In Nearly A Year — But Hackers Haven’t Gone Away What Comes Next Bitcoin dipped to around $60,000 on February 6, extending a roughly 15% pullback that shook out weaker hands and rattled short-term traders. The drop appears to have worked as a magnet for buyers with longer time horizons. Accumulation by large holders has historically been read as a bullish signal. When sustained buying from this group builds up, it tends to tighten available supply, which can set the stage for upward price pressure. Whether that dynamic plays out here depends on broader market conditions — macro sentiment, regulatory developments, and demand from new buyers all factor in. Featured image from Bitpanda, chart from TradingView
Bitcoin is showing strength even as global markets face rising tension. Conflicts involving Iran, complicated oil and gas trade routes, and a 70% surge in European gas prices have increased uncertainty. Meanwhile, South Korean stocks fell another 12% today. Despite this, Bitcoin has moved back above $71,000, supported by five straight days of inflows into …
The cryptocurrency market saw a strong rebound today as major digital assets moved sharply higher within a few hours, pushing the total crypto market capitalization above $2.4 trillion. Bitcoin led the rally, breaking above $71,000 after gaining about 5% in the last five hours, adding nearly $70 billion to its market capitalization. At the same …
Bitcoin has climbed back above $71,000, and one trader quickly took advantage of the move. Wallet 0x004E opened a 30x long position on 600 BTC worth about $42.7 million at an entry price of $70,235.8 in the last 20 minutes. As the price rose, the position reached about $570,000 in unrealized profit. If Bitcoin drops …
Ray Dalio cast fresh doubt on Bitcoin’s claim to safe-haven status on Tuesday, arguing that the asset still falls short of gold on privacy, institutional suitability and market structure. In a March 3 appearance on the All-In podcast, the billionaire hedge fund founder said those weaknesses help explain why Bitcoin has not behaved like gold during the current macro cycle. Asked why Bitcoin has lagged while gold has surged, Dalio pointed first to surveillance and control. “Bitcoin does not have privacy. Any transactions can be monitored and then indirectly perhaps controlled,” he said. He then drew a line from that feature to state-level adoption. “Central banks are not going to want to buy bitcoin and be able to hold it. So, it’s not just individuals, it’s institutions and so on, but most, you know, and central banks.” That matters because Dalio’s broader framework in the interview was built around debt stress, monetary debasement and the search for what he sees as politically neutral reserve assets. In that setup, gold remains the benchmark. He described it not as a speculative commodity, but as “the most established money” and “the second largest reserve currency that central banks hold,” arguing that its role is rooted in transferability, scarcity and the fact that it is not someone else’s liability. Related Reading: Bitcoin To $11 Million By 2036? This AI-Deflation Thesis Is Turning Heads Bitcoin, in Dalio’s telling, still looks different. Beyond privacy, he flagged technological uncertainty and the nature of its investor base. “There have been some questions or thoughts of the development of new technologies like quantum computing and so on. Can there be issues regarding that,” he said. “And then there’s who owns it and what are the other exposures that they have in their portfolio? It tends to have a pretty high correlation with the tech stocks.” That last point goes to Dalio’s bigger criticism: Bitcoin may be treated as an alternative monetary asset in theory, but in practice it still trades like a risk asset. “If somebody gets squeezed in one thing, they sell something, whatever else they have,” he said, arguing that Bitcoin’s supply-demand dynamics are shaped by cross-portfolio stress in a way golds are not. He also called it “a relatively small market” and, for that reason, “a relatively controllable market.” Ray Dalio SLAMS Bitcoin!! “Bitcoin does not have privacy.” “Central banks are not gonna wanna buy Bitcoin.” “Quantum computing” “Who owns it?” What do you think? pic.twitter.com/NdleeHR5lB — Altcoin Daily (@AltcoinDaily) March 3, 2026 Bitcoin Community Reacts The remarks quickly drew pushback from Bitcoin advocates on X, where the debate centered less on Dalio’s macro framing than on whether he was underestimating Bitcoin’s long-term trajectory. Investor Vijay Boyapati argued that Dalio “doesn’t fully understand why central banks own gold,” saying those holdings exist partly as protection against the possibility that gold competes with sovereign currencies. Related Reading: Bitcoin LTH Selling Cools: Is Months-Long Distribution Finally Ending? “Once Bitcoin achieves the same scale as gold (it will over time based on its significant comparative advantages over gold) central banks will be forced to own it for the same reason they own golf. Without ownership their national currency becomes vulnerable to a speculative attack from Bitcoin,” he added. Bitwise CIO Matt Hougan took a more market-oriented angle: “Some hear criticism; I hear opportunity. These are the reasons bitcoin is 4% of the size of gold. If these critiques did not exist, bitcoin would already be ~$750,000/coin. I invest in bitcoin in part because I am confident these things will change over time.” Abra CEO Bill Barhydt argued that Bitcoin’s volatility and smaller float are features of a younger monetary asset, not proof of failure, while also disputing the severity of Dalio’s quantum concerns. I’d like to address this conversation between two people I greatly admire (@friedberg and @RayDalio) as both fellow libertarians and macro experts i try to learn from. The conversation in the video is about bitcoin but I’ve extended it to be about bitcoin vs gold. Note that… https://t.co/atznXiMdTy — Bill Barhydt (@billbar) March 3, 2026 Zcash founder Zooko Wilcox, meanwhile, responded with a one-line jab: “I’m looking forward to Ray Dalio finding out about Zcash.” At press time, BTC traded at $69,660. Featured image from YouTube, chart from TradingView.com
Bitcoin’s current price trajectory has left a lot to be desired, with the most concern currently being for when the digital asset will hit a bottom. There have been countless predictions since the decline began, and yet, Bitcoin remains below $70,000. Nevertheless, it has not stopped the barrage of bottom calls and price predictions. One of these was shared by crypto analyst Crypto Patel, who took to using historical data and performance to track how low the BTC price will probably drop before reversing upward. Bitcoin Price Could Still Crash To $50,000 In the analysis , Crypto Patel pointed to previous bear markets and how far the Bitcoin price had crashed each time before recovering. The first of these was the 2018 bear market, when the Bitcoin price had crashed 85% after hitting an all-time high of $19,000. Once the crash was over and the bottom was established, though, the Bitcoin price would go on to record a 350% rally. Related Reading: Blood Moon Affecting Bitcoin Price? Why A Surge Above $100,000 Could Be Coming Next on the list was the 2019 crash that had triggered a 70% Bitcoin crash. This was a continuation of the bear market trend that had begun back in 2018, as profit-taking was the order of the day. However, just like before, this bleed would eventually end, and what followed was a 1,500% rally that would see the Bitcoin price reach new all-time highs. It eventually peaked at $69,000 in 2021 before crashing again. Following the 2021 bull market, the year 2022 would kickstart the next bear run for the digital asset. With the collapse of crypto giants such as Celsius and the FTX crypto exchange, the Bitcoin price witnessed a 78% crash. But once again, after hitting a bottom and accumulation ramped up, the BTC price would eventually rise 750% to cross $100,000 in the next few years, and eventually hit its most recent all-time high of $126,000. Related Reading: Bitcoin Fear Has Been This Low Only 2 Times In History, Here’s What Follows Each Time Using this trend, the crypto analyst outlines that it is possible that the Bitcoin price will drop further to $50,000, to complete a 50% price drop. However, despite the bearish prediction, Crypto Patel predicts that the BTC price is eventually headed for $220,000, which would be an over 300% increase from $50,000. Fully taking the historical performance into account, though, it shows that with each bear trend, the Bitcoin price has fallen an average of 70% each time. Using this, it is likely that the digital asset’s price will crash below $40,000, eventually finding support around $37,000, if history were to repeat itself. Featured image from Dall.E, chart from TradingView.com
Bitcoin traded near $68,200 on Wednesday as global markets reacted to a sharp sell-off in South Korea’s stock market and rising geopolitical tension in the Middle East. The cryptocurrency rose about 0.7 percent in the past 24 hours after briefly slipping below $67,500 earlier this week. Data shows Bitcoin held above a 24-hour low of …