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Bitcoin (BTC) has experienced a notable surge, gaining 3% in the last 24 hours, climbing from $84,000 to $88,600, following reports that upcoming US tariffs on major trading partners will be less severe than initially anticipated.  However, altcoins like Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have outperformed Bitcoin’s surge in the 24-hour time frame, being the top gainers in the ten largest cryptocurrencies list.  Bitcoin And Top Altcoins Experience Significant Gains Scheduled for announcement on April 2, President Donald Trump had previously indicated that he would impose both reciprocal and sector-specific tariffs on countries including Canada, China, and Mexico.  However, anonymous sources within the White House, as reported by Bloomberg and the Wall Street Journal, have suggested that the president may opt for a narrower approach, focusing solely on reciprocal tariffs.  According to the reports, this shift in strategy appears to signal a tempering of the administration’s approach to a “potential trade war”, which has historically led to increased volatility in both the cryptocurrency and equity markets. Related Reading: XRP Price Could Suffer April Flash Crash, Analyst Shows How Low It Could Go Dan Greer, CEO of Defi App, a decentralized finance platform, noted the correlation between Bitcoin’s recent price increase and the news of the tariff adjustments. “This surge in Bitcoin’s price coincides with reports that the Trump administration is considering narrowing the scope of tariffs set to take effect on April 2,” he stated. The positive sentiment surrounding Bitcoin has extended to the broader cryptocurrency market, with nearly all of the top 10 cryptocurrencies by market capitalization experiencing gains on Monday.  Ethereum rose by 4%, XRP by 2%, Solana, DOGE and Cardano led the pack with increases of 8%, 7.8% and 4.5% respectively. The stock market reflected this optimism, with both the Nasdaq and S&P 500 indices rising 2% over the past 24 hours. Expert Insights On BTC’s Recent Fluctuations Greer highlighted that this development has alleviated some market uncertainties, leading to increased investor confidence across both cryptocurrency and equity markets.  The crypto sector, which has faced mixed reactions since Trump took office, has been grappling with the implications of his fluctuating tariff policies. These policies have introduced a considerable degree of economic uncertainty, prompting many investors to retreat from riskier assets. Related Reading: Analyst Sets Dogecoin Next Target As Ascending Triangle Forms The anticipated tariffs—expected to raise the prices of foreign goods—could lead to inflation, further complicating the economic landscape. Bitcoin, which reached an all-time high of $109,000 in January, has seen a decline, dropping to $78,000 earlier this month amid fears that aggressive economic policies could trigger a recession. Colin Closser, investor relations manager at crypto wallet company Exodus, expressed his understanding of the crypto market’s reaction to Trump’s policies. “I expect markets to show emotion and volatility during times of change and stress in the United States, and you can see that volatility in Bitcoin this morning,” he remarked. Since the spike, Bitcoin has seen a bit of a pullback towards the $86,930 level, with the most notable support floor between $83,000 and $84,000. Featured image from DALL-E, chart from TradingView.com 

Bitcoin price started a steady increase above the $85,500 zone. BTC is now correcting gains from $88,750 and might find bids near $86,500. Bitcoin started a decent recovery wave above the $85,000 zone. The price is trading above $86,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $86,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $87,500 and $88,000 levels. Bitcoin Price Regains Traction Bitcoin price remained stable above the $83,200 level. BTC formed a base and recently started a recovery wave above the $85,500 resistance level. The bulls pushed the price above the $88,000 resistance level. However, the bears were active near the $88,800 resistance zone. A high was formed at $88,750 and the price corrected some gains. There was a move below the $88,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $83,665 swing low to the $88,750 high. Bitcoin price is now trading above $86,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $86,800 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $87,200 level. The first key resistance is near the $87,500 level. The next key resistance could be $88,000. A close above the $88,000 resistance might send the price further higher. In the stated case, the price could rise and test the $88,800 resistance level. Any more gains might send the price toward the $89,500 level or even $90,000. More Losses In BTC? If Bitcoin fails to rise above the $87,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $86,800 level and the trend line. The first major support is near the $86,200 level or the 50% Fib retracement level of the upward move from the $83,665 swing low to the $88,750 high. The next support is now near the $85,500 zone. Any more losses might send the price toward the $85,000 support in the near term. The main support sits at $84,500. 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 – $86,800, followed by $86,200. Major Resistance Levels – $87,500 and $88,000.

Tony “The Bull” Severino, a well-followed crypto analyst, recently took to the social media platform X to share a detailed breakdown of Bitcoin’s historical price behavior. The analysis uses a cyclical lens that many in the crypto community (both bulls and bears) agree holds significant relevance.  Notably, Tony Severino focuses on the concept of Bitcoin’s four-year cycles and how troughs and crests have consistently marked the periods of greatest opportunity and greatest risks for investing in Bitcoin. This analysis comes in light of Bitcoin’s recent price correction below $90,000 in March.  Cycles Define Sentiment: From Troughs Of Opportunity To Crests Of Risk Severino’s analysis starts from a foundational belief shared across the crypto industry. The widely-held belief is that Bitcoin operates in clearly defined cycles, usually lasting around four years, mostly in relation to its halving cycles. His technical outlook is based on Bitcoin’s cycle indicator on the monthly candlestick timeframe chart that goes as far back as 2013. Related Reading: Bitcoin Price Crash Incoming? Why A Fall To $63,000 Is Possible If This Resistance Holds As shown in the chart below, Bitcoin has gone through four definitive cycles in its history. These cycles, he explains, should be viewed from “trough to trough.” The troughs are the darkest moments in the market, but they also represent the point of maximum financial opportunity.  As these cycles progress, Bitcoin transitions through periods of increasing optimism, eventually arriving at what the analyst calls the “cyclical crest.” These crests, highlighted in red in his chart, are the periods where Bitcoin has reached its point of maximum financial risk. This is relayed in the ensuing price actions, with the Bitcoin price topping out right after passing each cyclical crest. Bitcoin passed through its crest in the current market cycle just before reaching its all-time high of $108,786 in January 2025. If past cycles are any indication, the coming months could reveal whether a top is already in. Right-Translated Peaks: Is BTC Running Out Of Time In This Cycle? Bitcoin has been on a correction path since February and is currently down by 20% from this $108,786 price high. The Bitcoin price has even gone ahead to correct as low as $78,780 in the second week of March, triggering reactions as to whether the crypto has already reached its peak price this cycle.  Related Reading: Inverse Head And Shoulders Breakout Suggests Bitcoin Price Is Headed To $300,000 However, Bitcoin might not be in the woods yet, as not all crests are followed immediately by market tops. Severino pointed out that past cycles have featured “right-translated” peaks where Bitcoin continued to rise slightly even after crossing the crest. The 2017 bull run was the most right-translated, with price action staying strong for some time after the red-zone crest. In contrast, other cycles began reversing not long after reaching this point of maximum risk. Bitcoin appears to have already passed the red crest based on Severino’s model, but this does not confirm a top is in just yet. Instead, it means that the margin for error is rapidly narrowing. The longer BTC continues to correct after this point, the more elevated the risk of a bearish phase becomes. BTC is attempting to regain bullish momentum at the time of writing, trading at $87,300 after rising 3.6% in the past 24 hours. Many other analysts argue that the Bitcoin price could still chart higher territory this year before a definitive top is confirmed. Featured image from iStock, chart from Tradingview.com

TRON founder Justin Sun has revealed that the network might reduce the TRX block rewards due to TRX’s rising price, sparking a discussion in the cryptocurrency community. Sun noted that this move is similar to Bitcoin’s halving mechanism, capturing the attention of investors who are wondering about the plan’s possible impact on traders. Related Reading: XRP Set For Big Rally – Analyst Says ‘Double Digits’ This Year Tron: Reducing Block Rewards Sun shared, in a post on X, his thoughts on potentially implementing a reduction in the network’s reward scheme for its TRX. He said that it is worth paying attention to the discussion about TRX’s upcoming reduction in block rewards. “Here are my personal thoughts. As we all know, TRX is already in a deflationary state of 1% per year, making it the only deflationary asset among major cryptocurrencies,” he explained. The TRON founder said that due to TRX’s rising price, “the rewards for block-producing nodes across the network have increased significantly, so a moderate reduction could be considered.” This discussion about TRX’s upcoming reduction in block rewards is worth paying attention to! Will TRX follow Bitcoin’s path and enter a halving cycle? Here are my personal thoughts. As we all know, TRX is already in a deflationary state of 1% per year, making it the only… — H.E. Justin Sun ???? (@justinsuntron) March 21, 2025 Following Bitcoin’s Path In the post, Sun said that TRX might follow what happened to Bitcoin, saying, “Will TRX follow Bitcoin’s path and enter a halving cycle?” He explained that the firstborn cryptocurrency followed a similar path, saying that once the BTC network grew, investors saw a gradual decrease in its block rewards. “In the early days, higher rewards were necessary for bootstrapping the network. However, as Bitcoin’s price surged, block rewards were lowered, and the halving cycle played a crucial role in Bitcoin’s long-term sustainability—aligning with Satoshi Nakamoto‘s original vision,” the founder added. Impact Of The Reduction Sun also shared the possible impact of reducing TRX block rewards, giving two scenarios. “If daily block rewards are reduced by 1 million TRX, the deflation rate would increase by 50%, reaching 1.5% per year,” he said. On the other hand, he believes that if TRX is reduced by 2 million, the deflation rate would increase to 2% per year, “effectively doubling the deflation rate, with an impact on TRX cycles comparable to Bitcoin’s halving.” “Even with a block reward reduction, the current incentives for network validators remain highly attractive. Ultimately, this decision rests with the TRX community,” he added. The founder revealed that the network has formally submitted on GitHub the proposed block rewards reduction. Related Reading: Ethereum Whales Pounce On The Dip, Snag $236 Million In ETH “The adjustment aims to create a more balanced supply-demand dynamic encouraging increased user participation in staking. This will benefit all stakeholders, ensure the TRX block rewards consistent with the maturity of the TRON network, and promote the healthy and sustainable development of the TRON ecosystem,” the network stated in the proposal. Among the benefits that can be gained from its implementation are better deflation, increased staking incentives, strengthened network security, and improved economic alignment. “Timely adjustments to TRX block rewards can better promote the healthy and sustainable development of the TRON network and TRON ecosystem,” the network added. Featured image from Gemini Imagen, chart from TradingView

Bitcoin price started a recovery wave above the $82,500 zone. BTC is now rising and might aim for a move above the $86,500 and $87,200 levels. Bitcoin started a decent recovery wave above the $83,000 zone. The price is trading above $84,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $85,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $86,200 and $87,000 levels. Bitcoin Price Eyes Steady Increase Bitcoin price remained stable above the $82,000 level. BTC formed a base and recently started a recovery wave above the $83,500 resistance level. The bulls pushed the price above the $85,000 resistance level. However, the bears were active near the $86,500 resistance zone. A high was formed at $85,591 and the price corrected some gains. There was a move below the $85,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $83,667 swing low to the $85,591 high. Bitcoin price is now trading above $85,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $85,200 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $86,000 level. The first key resistance is near the $86,500 level. The next key resistance could be $87,200. A close above the $87,200 resistance might send the price further higher. In the stated case, the price could rise and test the $88,500 resistance level. Any more gains might send the price toward the $88,800 level or even $90,000. Another Drop In BTC? If Bitcoin fails to rise above the $86,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $85,500 level. The first major support is near the $85,200 level or the 50% Fib retracement level of the upward move from the $83,667 swing low to the $85,591 high. The next support is now near the $84,500 zone. Any more losses might send the price toward the $83,000 support in the near term. The main support sits at $81,500. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $85,500, followed by $85,200. Major Resistance Levels – $86,500 and $87,200.

Most of the last trading week presented another stale price action in the Bitcoin (BTC) market undergoing a sustained consolidation. While the premier cryptocurrency recorded a price breakout on March 20 to reclaim the $87,000 price zone, selling pressure soon forced a return to below $84,700,  resuming a sideways movement. Meanwhile, Bitcoin’s price action over the past few months has created a bullish pattern hinting at a substantial price breakout. Related Reading: Is It Time To Buy The Bitcoin Dip? Analysts Share Insights On Current Market Conditions Bitcoin Falling Wedge Signals Another Major Rally- How High Can BTC Fly? In a recent post on X, a digital asset market analyst with the username Mister Crypto provided some bullish insights on the Bitcoin market based on a continuation chart pattern and historical price data. According to Mister Crypto, Bitcoin’s price appears to be forming a falling wedge suggesting a possible price surge could occur upon breakout. The falling wedge is a familiar bullish pattern in technical analysis formed by two converging trend lines due to price action forming lower highs and lower lows. It usually indicates that bearish momentum is weakening and Bitcoin could embark on a sustained uptrend following a breakout from the upper trend line. Interestingly, Mister Crypto notes that Bitcoin has consistently experienced strong price rallies following previous formations of a falling wedge as indicated in the chart above. Notably, there have been three distinct cases in the past two years during which the premier cryptocurrency has surged for an average of 54 days producing an average gain of 67.5%. Looking at the previous periods and the gradual rise in price gain, Bitcoin could rise by an estimated 77% upon a confirmed breakout from its current falling wedge suggesting a strong bullish market in the majority of Q2 2025. Related Reading: XRP Price To $27: Why Current ‘Boredom Phase’ Could Trigger Epic Rally Investors Move 10,000 BTC As Market Confidence Rises In other news, renowned market analyst Ali Martinez reports an ongoing surge in Bitcoin exchange outflows despite the current market uncertainty. Using data from CryptoQuant, Martinez notes that investors have transferred 10,000 BTC valued at $842.9 million from crypto exchanges to personal decentralized wallets. This development is strongly bullish as it indicates growing market confidence in price appreciation as investors are opting to keep their assets rather than sell.  At the time of trading, Bitcoin trades at $84,309 reflecting a price loss of 0.14% in the past 24 hours. Meanwhile, the flagship crypto asset is down by 0.39% on the 7-day chart as consolidation continues. BTC must decisively break above $84,700, avoiding any retrace to confirm any intent of an uptrend. However, other immediate resistance will lie at $86,800 and $90,774. Featured image from Forbes, chart from Tradingview

A recent analysis comparing Bitcoin’s price movement and the Global M2 money supply has added another data point to the growing argument for a bullish phase ahead for the cryptocurrency. Colin, a crypto analyst known on social media platform X as “The M2 Guy,” recently shared an update suggesting that Bitcoin may be on the verge of a significant upward move, and the expected timeline might continue to test the patience of Bitcoin traders. Bitcoin’s Incoming Rally May Mirror M2’s Explosive Growth Colin, a crypto analyst known on X as “The M2 Guy,” has continued to build his case around the correlation between Bitcoin and macro liquidity trends. His outlook on Bitcoin, which is currently bullish, is based on an offset correlation between the cryptocurrency’s price action on the daily candlestick chart and the global M2 money supply.  Related Reading: Bitcoin Vs. Global M2 Money Supply Shows A Big Move Coming, Here’s The Target In a previous analysis, the analyst noted that Bitcoin’s price action on the daily candlestick chart has the best correlations on the 70-day and 107-day offsets. The most recent update from the analyst focuses on the 107-day offset, which he termed “the most likely scenario.” Analysis of Bitcoin’s 107-day offset with the global M2 money supply shows that Bitcoin is about to go on a blast-off spike. However, this isn’t just about a one-day spike. Colin projects the rally could last for two months based on the sharp vertical trend of the global M2 supply. As for the timing, the 107-day offset suggests that the blast-off spike is expected to kick off around April 30 based on a mathematically strong correlation. If the M2 line continues its upward surge, the rally could last even longer. Focus On The Macro, Not Just The Day Although April 30 is a focal point in his projection, Colin cautioned followers not to become overly fixated on the exact date. “Don’t get caught up in the weeds,” he advised. The larger narrative is more important, reflected in the soaring global M2 levels, which should create an environment ripe for Bitcoin and other crypto assets to benefit from increased liquidity.  Related Reading: Bitcoin Long-Term Holder Net Position Turns Green For The First Time In 2025 In terms of a price target, the current trajectory of the global M2 money supply points to a rally above $140,000. However, interesting predictions have suggested that the Bitcoin price has a chance of doubling before the end of 2025. At the time of writing, Bitcoin is trading at $84,310, having spent the last 24 hours trading in a range between $83,700 and $84,300. Based on this analysis of correlation with the global M2 money, bullish Bitcoin investors might need to wait for at least another month before any significant movement.  This delay might pose challenges for short-term traders depending on their positioning and risk tolerance. On the other hand, it gives long-term holders the opportunity to accumulate more bitcoins at the current low price before the predicted rally. Featured image from Unsplash, chart from Tradingview.com

Amidst the ongoing consolidation in the crypto market, an analyst with X pseudonym cryptododo7 has observed certain developments with the Bitcoin dominance that could spell significant implications.  Related Reading: Bitcoin Dominance Tipped To Hit 57% — Altseason Incoming? Bitcoin Dominance Climbs Higher As Altcoins Prepare For Takeoff In a recent X post on March 21, cryptododo7 shared a technical analysis on the Bitcoin Dominance chart hinting at a possible altseason. The crypto analyst noted that Bitcoin Dominance may be poised for a sustained uptrend following a breakout and successful retest of a bullish pennant formation at the 61.25% level. Generally, the bullish pennant forms after a strong upward price movement as seen in early 2025 in the chart below. This price surge (known as the flagpole) is followed by a consolidation phase in which price movements make higher lows and lower highs thereby forming a symmetrical triangle i.e. the pennant. With a successful breakout and retest of the bullish pennant, Bitcoin Dominance has confirmed expectations of a major surge, with Cryptododo7 predicting a potential target of 67.51%. However, the crypto analyst cautions that this rise may not signal a market-wide rally,  as Bitcoin Dominance may surge alongside a decline in Bitcoin and altcoins’ price. Albeit, the analyst further states this projected dominance top of 67.51% will potentially represent the peak of Bitcoin Dominance in this bear market, signaling a possible altseason. The altseason, which is a prominent period in the crypto market cycle, is marked by altcoins’ outperformance of Bitcoin which is confirmed by a decline in Bitcoin Dominance. Certain analysts have previously beaten down the odds of an altseason in the current cycle citing a massive increase in altcoin numbers over the last four years. However, other analysts such as Cryptododo7 remain optimistic stating an altseason will likely follow Bitcoin Dominance’s surge to 67.51%. During this period, altcoins are expected to experience massive capital inflows potentially as high as $627 billion. Related Reading: Investors Withdraw 360,000 Ethereum From Exchanges In Just 48 Hours – Accumulation Trend? MACD Curl Hints At Possible Reversal – More Positives For The Altseason? In other developments, X platform MoreCryptoOnline reports the Weekly MACD (Moving Average Convergence Divergence) of the total crypto market cap (excluding the top 10 coins) is beginning to curl upwards indicating a potential bullish shift in the altcoin market. For context, the MACD is a commonly used momentum indicator that helps identify potential trend reversals. And while this signal suggests a possible shift, it remains an early-stage confirmation of the altseason. At press time, the total crypto market capitalization stands at $2.76 trillion, with Bitcoin accounting for $1.67 trillion of this value. Meanwhile, the CoinMarketCap Altseason Index sits at 21, suggesting that an altcoin boom is not yet imminent. Featured image from DEXYNTH, chart from Tradingview

As Bitcoin (BTC) stabilizes above the critical $80,000 support level after a significant downturn of over 25% from its January peak, market analyst Doctor Profit has released a compelling report that raises a pivotal question: is the market witnessing the onset of a bear market, or is the bullish sentiment still intact? M2 Money Supply And Bitcoin Price Doctor Profit emphasizes the crucial role of liquidity in the current market landscape. While many celebrate the increase in the M2 Money Supply—a key economic indicator—there’s a vital need to understand the timing of its effects.  Historically, M2 has shown a strong correlation with Bitcoin’s price movements. Unlike stock markets, which typically react to M2 expansions after a lag of about six months, Bitcoin tends to respond more rapidly, though not instantaneously. According to the analyst, the “misconception” that money printing leads to immediate market upswings is addressed, as there are multiple factors at play, including macroeconomic conditions.  Related Reading: Analyst Says Dogecoin Could Skyrocket 16% Any Moment The Federal Open Market Committee (FOMC) decisions regarding interest rates are particularly influential. Although official data suggests inflation is declining, underlying realities, such as OPEC’s influence on oil prices, complicate the outlook. In the context of rising M2, Doctor Profit predicts that Bitcoin’s bullish trend could resume around May or June, but anticipates a period of sideways movement and potential short-term bearish pressure leading up to that point. He warns that many who are currently bullish may shift to a bearish stance as the market evolves. In the report, Doctor Profit highlights the significance of the weekly EMA50—a critical moving average he refers to as the “Golden Line”—which Bitcoin has respected in recent price action. After bouncing off this line at $76,000, the cryptocurrency reached the anticipated $87.4K, triggering several short positions. Long-Term Bullish Outlook With Short-Term Caution Looking ahead, Doctor Profit’s strategy involves targeting a potential drop to the $70,000 to $74,000 zone. This region is crucial; if Bitcoin merely wicks into it but then closes strongly above the Golden Line, he plans to take long positions.  Doctor Profit maintains a bullish long-term outlook, expecting a resumption of the bull run by mid-2024, with price targets ranging from $120,000 to $140,000. He remains cautious, holding significant cash reserves and expanding short positions in anticipation of market fluctuations. Related Reading: XRP Jumps 7% After Surge In Network Activity & Whale Buying Doctor Profit outlines two bearish scenarios that traders should consider: a manageable drop to the $70,000 to $74,000 range and the more severe “Black Swan” event that could push prices down to the $50,000 region. While he is confident in a bounce at the higher target, he advises preparedness for both scenarios. At the time of writing, BTC is hovering around $84,000, recording losses of 3.5% and 12% in the fourteen and thirty days time frame respectively.  Featured image from DALL-E, chart from TradingView.com 

A crypto market technician is debating whether Bitcoin has reached its peak this bull cycle, as technical indicators suggest a potential loss of momentum. The analysis report highlights technical indicators like the Relative Strength Index (RSI) which failed to reach past extremes, raising concerns about Bitcoin’s future trajectory. Bitcoin Indicators Fall Short Of Historical Peaks Bitcoin has historically exhibited strong indicator readings during major cycle tops, reflecting extreme market engagement and enthusiasm. However, in this bull cycle, the pioneer cryptocurrency’s RSI reading has failed to reach historical peaks despite Bitcoin reaching new all-time highs.  Related Reading: Bitcoin Price Risks Further Crash As S&P Monthly LMACD Turns Bearish, Why Bulls Have Only 20 Days Tony Severino, a crypto market technician on X (formerly Twitter), has Bitcoin Price Risks Further Crash As S&P Monthly LMACD Turns Bearish, Why Bulls Have Only 20 Days a detailed analysis of Bitcoin, challenging the assumption that the cryptocurrency must reach the same overbought RSI levels as in previous cycles to confirm its market peak. The key argument here is that lower highs on oscillators like the RSI, combined with higher highs in Bitcoin’s price, can be a bearish signal, suggesting waning strength in the market.  Severino shared an example comparing Bitcoin’s current bull cycle to past cycles. In the previous bull market, Bitcoin’s monthly RSI reached above 90, but its current cycle has not. The analyst posed a question about whether this inability to reach past extremes means that Bitcoin hasn’t reached a market top or simply lacked the same momentum to push its RSI to the highest level.  The analyst has warned that believing that Bitcoin must reach past extremes on indicators before hitting a price peak is a dangerous way of thinking. Historical patterns do not always repeat in the same way, and relying too much on past indicator peaks could cause traders to miss warning signs of a top or underestimate the possibility of a bear market.  Severino also pointed to historical data from the S&P 500 in the 1950s and 1960s, where similar RSI failure preceded a long market meltdown. During these times, cyclical peaks hit RSI readings of 77 or higher, but in 1969, the RSI failed to reach those highs, signaling underlying weakness. This market downturn ultimately led to the first lower low in over 20 years.  While this historical behavior of the S&P 500 does not mean that Bitcoin is destined for a lower high, it does suggest that the cryptocurrency does not need to reach extreme RSI levels to confirm a cycle top and a subsequent bear market.  Analyst Says BTC Has Hit Its Market Top In his analysis Severino confirmed that Bitcoin has already hit its market top for this bull cycle. Following his detailed analysis of Bitcoin’s RSI levels, a community member asked if Severino believes that Bitcoin reached a market top when its price surged above $109,000.  Related Reading: This Analyst Predicted The Bitcoin Price Crash From $91,000, Why It’s Far From Over The analyst responded positively, stating that current market data indicates that the cryptocurrency hit its highest price point for this bull cycle after Donald Trump’s US Inauguration Day. At the time, Bitcoin soared past $109,000, setting a new ATH and surpassing previous records. Featured image from Unsplash, chart from Tradingview.com

The latest wave of wealthy Bitcoin investors are enamored with the cryptocurrency. Since late November, they have been amassing more than a million Bitcoins between them. They took another 200,000 coins just last month. Related Reading: XRP Vs. ETH: Bold Prediction Claims ‘Dying’ Ethereum’s Reign Is Ending According to research from CryptoQuant, these are not your normal long-term investors. The majority of these “new whales”—who each have at least 1,000 Bitcoin—are novices who have owned their holdings for less than six months. They won’t be here for long. Money is what they smell. According to some market observers, when people see this kind of buying from major players, they’re not doing it to lose money. They anticipate a price spike in the near future, not three or five years from now, based on the swift holding pattern. Market Shake-Up On January 17, the open interest in Bitcoin futures reached an insane $33 billion. Then there was a crash. Approximately $10 billion worth of wagers were quickly wiped out between February 20 and March 4. Why is this so? The finger is pointing at US President Donald Trump. The new administration’s position on cryptocurrency caused political turbulence that rocked the market. By the end of the day, futures bets saw a 14% decline in the 90-day change. Get Ready For A Price Jump, History Says We’ve already seen this flick. Experienced market observers are aware of the usual outcomes following these significant clearouts. Bitcoin has a tendency to rise, sometimes sharply. Historically, Bitcoin’s price has been driven by the combination of large money buying in and hazardous investments being flushed out. Is Bitcoin Going To Reach $160,000?  Some analysts are dusting up their crystal balls because whales are purchasing at unprecedented speeds and market leverage is at healthier levels. Where will Bitcoin go next? A price projection of $150,000 or perhaps $160,000 is possible. That would surpass every prior record. Related Reading: XRP Turnaround Moment? Analyst Says It’s Lift-Off Time The basic math: prices often rise when millionaires purchase substantial portions of the finite supply of Bitcoin. Almost immediately, these new whales have altered the supply-demand equilibrium. A cryptocurrency fund manager asserts they’re not buying just to sell at a loss—unlike retail investors, they see what’s coming before it happens. Bitcoin owners may be in for a pleasant surprise if the current buying trend continues. The question is not if prices will increase, but rather how quickly and to what extent. Featured image from Casa Blog, chart from TradingView

A BlackRock executive anticipates that the price of Bitcoin will increase in accordance with its growing institutional adoption. Robbie Mitchnick, BlackRock chief of digital assets, stated that Bitcoin remains 15% above its early November levels, despite recent price declines. He raised this point during an interview with Yahoo Finance on Wednesday. Related Reading: XRP Vs. ETH: Bold Prediction Claims ‘Dying’ Ethereum’s Reign Is Ending He believes that the cryptocurrency’s current value does not accurately reflect the number of significant institutions that are currently purchasing it. The market has not yet caught up to reality, he stated in an interview with Yahoo Finance. Mitchnick anticipates that the flagship crypto’s value will experience substantial growth once prices are in accordance with this institutional interest. JUST IN: ???????? BlackRock’s Head of Digital Assets says #Bitcoin’s Institutional adoption still isn’t reflected in the price. The new marketing team is here ???? pic.twitter.com/EZHP1uFYX5 — Bitcoin Magazine (@BitcoinMagazine) March 19, 2025 Trump’s Bitcoin Reserve Order Hasn’t Sparked Expected Price Surge United States President Donald Trump recently issued an executive order that established a US Strategic Bitcoin Reserve. Numerous market observers anticipated that this would result in an instantaneous surge in crypto prices. In contrast, the cryptocurrency’s value has declined since the announcement. Mitchnick elucidated this discrepancy by asserting that individuals anticipated early substantial outcomes from these market developments. Premature expectations regarding the speed at which these favorable factors would influence prices were present, he stated. The BlackRock executive proposed that the market requires additional time to completely respond to these developments. BlackRock Continues Push For Institutional Bitcoin Investment Even as Bitcoin prices fluctuate, BlackRock has been exerting significant effort to encourage additional financial institutions and wealth managers to invest in its product. Mitchnick asserts that these endeavors are yielding results. Major financial institutions, such as Barclays, JPMorgan, and Avenir Group, now possess substantial quantities of BlackRock’s iShares BTC Trust (IBIT), which monitors Bitcoin’s price, according to recent filings. Related Reading: Bitcoin Buying Race? US Wants More, Says Trump’s Digital Assets Chief Recession Could Help Bitcoin In The Long Run During the recent market uncertainty, Mitchnick attributed the lack of stability in Bitcoin to perception rather than actuality when asked why it has not been as stable as gold. He characterized Bitcoin’s recent association with risky assets as “self-inflicted,” a consequence of market observers’ persistent designation of it as a risk-on asset. His analysis indicates that Bitcoin’s fundamental characteristics should cause it to move in opposition to market risks, akin to gold. Meanwhile, Mitchnick disclosed that Bitcoin may actually benefit from a recession. He enumerated a number of economic downturns that are well-suited to Bitcoin’s characteristics, including increased government expenditure, reduced interest rates, stimulus money, and concerns regarding social stability. Featured image from Gemini Imagen, chart from TradingView

Bitcoin’s long-term holders have resumed accumulation in what is a notable shift in investor sentiment despite the turbulence that has gripped the market in recent weeks. Particularly, data from on-chain analytics platform Glassnode shows that the “BTC: Long-term holder net position change” metric has flipped positive for the first time this year. This suggests that long-term Bitcoin investors are capitalizing on market conditions to add significant amounts of BTC to their holdings. Long-Term Holders Add 167,000 BTC Amid March Crash Earlier this month, Bitcoin’s price plunged from above $90,000 to around $80,000 during a rapid sell-off​. This price stunned many traders and triggered a continuous wave of liquidations among short-term investors. Yet despite this steep correction, long-term holders treated the sub-$90,000 levels as a buying opportunity rather than a reason to capitulate.  Related Reading: Bitcoin Long-Term Holders Officially Enter Into Greed Territory, Is This Good Or Bad For Price? In other words, coins are moving into wallets that haven’t spent their BTC in a long time, which is a notable reversal after starting 2025 with a negative net position change. This marks the first net accumulation by these “HODLers” in 2025. Glassnode’s Long-Term Holder Net Position Change metric, which had been in the red, flipped “green” as long-term investors aggressively accumulated through the downturn​. On-chain data shows that this flip to green has seen long-term holders increase their net Bitcoin holdings by more than 167,000 BTC in the past month. This notable influx is valued at nearly $14 billion. In short, the cohort of seasoned holders began scooping up cheap BTC while short-term sentiment was at its bleakest. Is A Bitcoin Price Recovery Brewing? The timing of this flip from red selloff to green accumulation among long-term holders is striking, considering what the Bitcoin price went through in the past two weeks. This data suggests that a large part of the Bitcoin crash was caused by panic-selling among short-term holders. This behavior aligns with past market cycles between August and September 2024, where long-term holders accumulated aggressively during a price dip. Related Reading: Is Bitcoin Price Headed For $70,000 Or $300,000? What The Charts Are Saying Interestingly, Glassnode’s long-term holder metric isn’t the only one pointing to positive Bitcoin sentiment among large holders. After weeks of uncertainty, Bitcoin exchange-traded funds (ETFs) have started seeing net inflows again. On March 17, spot Bitcoin ETFs collectively drew in about $274.6 million, the largest single-day inflow in 28 days and a clear signal of renewed investor interest​. The very next day brought another wave of fresh capital, with roughly $209 million pouring into Bitcoin funds on March 18​. In fact, this three-day streak represents the first sustained run of positive inflows since February 18, a period during which Bitcoin funds have experienced consecutive days of outflows. At the time of writing, Bitcoin is trading at $83,500. Featured image from Unsplash, chart from Tradingview.com

The road ahead for Bitcoin looks promising. At least, this is the prediction of Bitwise Chief Investment Officer Matt Hougan. According to the CIO, Bitcoin still has a big chance to hit $1 million by 2029 — despite its recent lackluster performance. Related Reading: Solana Marks 5-Year Journey – 400 Billion Transactions And Counting In a March 18 investor note, Hougan explained how Bitcoin responds to economic uncertainty. Bitcoin’s Complex Relationship With Economic Trends In his view, Hougan said Bitcoin doesn’t always function as the crisis hedge many buyers expect. The cryptocurrency sometimes moves in sync with the broader US stock market when major economic news breaks. This pattern appears to be repeating as markets await the 2025 Federal Open Market Committee (FOMC) Meeting this month. The Bitwise executive advises holding onto your crypto investment in spite of the current uncertainty. He cites past data that demonstrates Bitcoin price increases of more than 190% in the years after notable declines. This is what he labels as a “dip then rip” trend that may recur in the coming weeks or months. Million-Dollar Price Target Based On Discount Analysis Using the Discounted Cashflow Analysis (DCA), Hougan calculated that a $1 million BTC price in 2029 translates to a current value of $218,604 when applying a 50% discount factor. This projection supports Bitwise’s long-term forecast of up to $1.1 million per coin. With a modest price movement, the cryptocurrency has traded lately between $81,180 and $84,340. Though obstacles still exist, other analysts such as Ark Invest’s Cathie Wood have foreseen a “deflationary boom” that would help Bitcoin reach its full potential. US Government Involvement Could Shape Future Of Bitcoin Reports suggest that possible US government actions could have a major effect on the long-term future of Bitcoin. The proposed creation of a strategic Bitcoin reserve could indicate official acknowledgement of the relevance of the alpha coin. Senator Cynthia Lummis, meanwhile, has reintroduced the Bitcoin Act Bill, a move that appears to be building institutional investor confidence. Regulatory changes affecting Bitcoin are also spreading to other digital assets, particularly stablecoins. Related Reading: XRP Stumbles—But Analysts Still See A Path To $70 Macroeconomic Factors Influence Short-Term Price Action The Bitwise CIO also pointed out links between the success of Bitcoin and the US tariff wars. The main reason for Bitcoin’s price changes, according to his analysis, is that it is not as liquid as standard markets. In the short run, Hougan said that geopolitical tariff conflicts might make the market more liquid. If this trend keeps up, it could be good for Bitcoin because buyers are looking for safety from economic uncertainty. Featured image from Gemini Imagen, chart from TradingView

The Bitcoin price could be headed for more pain, as a crypto analyst has identified a new bear market indicator that suggests a crash to $40,000 is imminent. The analyst has predicted when this deep price decline is set to occur, warning investors to remain cautious or risk selling at a loss.  Xanrox, a crypto analyst on TradingView, shared a detailed price analysis of Bitcoin on March 17, predicting that the pioneer cryptocurrency is set to crash to $40,000 by 2026. The analyst revealed that Bitcoin follows a predictable cycle pattern tied to its halving events, which occur every four years. During these years, the market alternates between bull markets, where prices skyrocket, and bear markets, marked by severe corrections.  Bear Market Indicator Predicts Next Bitcoin Price Crash Historically, bull markets last between 742 and 1,065 days, which is about 2-3 years. Conversely, bear markets last between 364 and 413 days—approximately one year. Notably, every bull run for each cycle has been weaker than the previous one due to Bitcoin’s rapidly growing market capitalization. Related Reading: Crypto Pundit Arthur Hayes Says Be Patient After Bitcoin’s 36% Crash, Reveals Possible Bottom In every cycle, Bitcoin’s price crashes after a bull market, ultimately experiencing a decline between 77% to 86%. Reflecting on this recurring trend, Xanrox forecasts a major Bitcoin price correction, albeit a weaker one than those of previous cycles. The analyst believes that the cryptocurrency will crash 65% to $40,000, citing its significantly larger market capitalization and rapidly growing institutional adoption. He shared a price chart that highlights the various halving cycles and the magnitude of each bull market rally and bear market crash since Bitcoin’s inception. He pointed out that statistically, predicting Bitcoin’s movements with a simple chart has always been accurate, suggesting that his 65% crash prediction was inevitable.  Currently, Bitcoin’s considerable market capitalization of $1.63 trillion makes it unrealistic to achieve the extreme growth needed to reach a target of $300,000, $500,000, or even $1 million, as some moon analysts predict. Xanrox suggests that 2025 may be a bearish year, with the next Bitcoin bull run set to begin in 2026, after the bear market.  CryptoQuant Says BTC Bull Cycle Is Over Sharing a similar bearish sentiment about the current market, CryptoQuant’s founder and Chief Executive Officer (CEO), Ki Young Ju, has announced the unfortunate end of the Bitcoin bull cycle. Ju revealed that the market should expect 6 – 12 months of choppy price action, indicating the start of the bear market.  Related Reading: Analyst Says Bitcoin RSI Dominance Needs To Crash To This Level For The Bull Run To Resume He also highlights that every on-chain metric for Bitcoin is signaling a bear market, with fresh liquidity depleting while new whales are selling BTC at a significantly lower price. Moreover, Bitcoin is trading at $82,549, marking an over 20% price crash since its all-time high of more than $109,000 this year. Featured image from Unsplash, chart from Tradingview.com

Bitcoin’s price action has been trapped in a tight range between $84,000 and $82,000 in recent days, with bulls struggling to push upwards. The general market sentiment is one of a cautious nature, and hopes of a quick return above $90,000 are starting to fade. However, a new technical analysis suggests that Bitcoin could be on the verge of a significant rally, as price action shows the cryptocurrency is currently conforming to the cup-and-handle pattern. Cup And Handle Support Could Cause A Major Bitcoin Rally Recent Bitcoin price movements have drawn attention back to a key technical structure of the handle support of a cup-and-handle pattern, suggesting that a bullish setup may be quietly taking shape. This interesting Bitcoin price activity was relayed in a technical analysis by a crypto analyst on the TradingView platform.  Related Reading: Bitcoin Price Suppression Below $100,000 Worries Investors, JPMorgan Analysts Reveal Real Problem The cup-and-handle pattern in question has been forming over multiple years, with the rounded bottom phase stretching from 2021 to mid-2024. This prolonged accumulation period saw Bitcoin gradually recover from the bearish market cycle before breaking above its neckline resistance. The breakout started the handle formation in the latter half of 2024, a consolidation phase that set the stage for BTC’s next leg up. By November 2024, Bitcoin completed this handle phase and went on an impressive rally that ultimately resulted in a new all-time high of $108,786 in January 2025. However, the recent 24% correction from this all-time high has seen the Bitcoin price returning to the neckine resistance of the cup-and-handle formation. The logical next step is for this neckline resistance to serve as support for the price correction and we could see Bitcoin rebound from here. In terms of a price prediction, Elliott wave analysis and projections put the price target above $130,000, particularly at $139,000. Elliott Wave Analysis Suggests A Surge Toward $130,000 According to the Elliot Waves technical framework, Bitcoin is currently in a larger fifth impulse wave formation. However, this fifth wave, which is generally bullish, has been punctuated by corrective ABC sub-waves, leading Bitcoin to retest the support of the cup-and-handle formation. Now that the support has been met, Bitcoin is in a position to bounce and continue the formation of its fifth impulse wave. This is expected to bring it to the price target above $130,000. Related Reading: Bitcoin Open Interest Crashed To 6-Month Low, Here’s What Followed The Last Time The alignment of the cup-and-handle formation with Elliott wave projections strengthens the case for a major breakout in the coming months. However, Bitcoin’s fundamentals reflect uncertainty in the short term. There is currently a lack of bullish momentum needed to rechallenge the $90,000 mark, which would be the first step needed to reach $130,000. Steady institutional outflows from Spot Bitcoin ETFs have further increased selling pressure, limiting Bitcoin’s ability to regain strength in the short term. At the time of writing, Bitcoin is trading at $83,500. Featured image from Unsplash, chart from Tradingview.com

Following the last trading window, the US Bitcoin Spot ETFs have recorded another week of overwhelming net outflows with investors pulling over $900 million from the market. This development marks the fifth consecutive week of redemptions indicating weak market confidence among institutional investors of the premier cryptocurrency. Related Reading: Ethereum Spot ETFs Outshine Bitcoin Counterparts With Double Market Inflows – Details Bitcoin Institutional Investors Withdraw For The Fifth Straight Week After a strong start to the year which saw the Bitcoin ETFs attract over $5 billion in investments, institutional investors have shown much caution in recent weeks indicated by massive withdrawals. According to data from Farside Investors, the Bitcoin Spot ETFs registered $921.4 million in net outflows during the past week culminating in an estimated total of $5.4 billion in the last five weeks. The majority of withdrawals from last week were pulled from BlackRock’s IBIT which recorded $338.1 million in net outflows. Fidelity’s FBTC followed closely with investors with fund redemptions outpacing deposits by $307.4 million. Other Bitcoin ETFs such as Ark’s ARKB, Invesco’s BTCO, Franklin Templeton’s EZBC, WisdomTree’s BTCW, and Grayscale’s GBTC all saw moderate net outflows between $33 million-$81 million.   Meanwhile, Bitwise’s BITB, Valkyrie’s BRRR, and VanEck’s HODL all recorded minor net outflows not greater than $4 million. Grayscale’s BTC emerged as the only fund to have a positive showing with net inflows of $5.5 million. The consistently high levels of withdrawals from the Bitcoin ETFs can be associated with the recent BTC market price correction. Over the last month, the maiden cryptocurrency has experienced a price decline of 11.95% reaching levels as low as $77,000. During this period, institutional investors have shown much caution, with the total net assets of the Bitcoin Spot ETFs decreasing by 21.70% to $89.89 billion according to data from SoSoValue. Related Reading: Bitcoin ETFs Coming To Japan? Government Prepares To End Ban Ethereum ETFs Lose $190 Million In Withdrawals Amidst the Bitcoin ETFs’ struggles, the Ethereum Spot ETFs market is experiencing similar investor sentiment following net outflows of $189.9 million in the last week. This development marks the third consecutive week of withdrawals, bringing the total net outflows to $645.08 million within this period. Similar to its Bitcoin counterpart, BlackRock’s ETHA experienced the largest withdrawals of the past week valued at $63.3 million. At the time of writing, total cumulative inflows into the Ethereum ETF market are valued at $2.52 billion with total net assets standing at $6.72 billion i.e. 2.90% of the ETH market cap. Meanwhile, Ethereum continues to trade at $1,924 reflecting a 0.73% gain in the past 24 hours. On the other hand, Bitcoin is valued at $84,009 with no significant price change on its daily chart. Featured image from jpm.law, chart from Tradingview

An analyst revealed on Friday that Bitcoin might suffer a 91% decline from the coin’s all-time high of $109,000 per coin in January 2025, suggesting that the most popular cryptocurrency could potentially crash.  Related Reading: 200 Million XRP On The Move—Is Ripple Preparing For A Big Play? Mike McGlone believes that the firstborn crypto might plummet to a low of $10,000 per coin, reigniting concerns that Bitcoin might experience another deep correction similar to 2011 when Bitcoin dipped by as much as 92%. BTC To Crash To $10K? McGlone, a Senior Commodity Strategist at Bloomberg Intelligence, predicted that Bitcoin might be heading to what he described as a devastating collapse, resulting in the crypto sliding to $10,000. “Bitcoin Back to $10,000? Peak Leveraged Beta Risks, Rising Gold – #Gold is up about the same amount in 2025 to March 13 — about 15% — that #Bitcoin is down,” McGlone said. If Bitcoin will plunge to $10,000, it will represent a 90% decrease from BTC’s all-time high of $109,000 in January 2025. On the other hand, it will fall by 88% if based on its current price of about $83,000. Bitcoin Back to $10,000? Peak Leveraged Beta Risks, Rising Gold – #Gold is up about the same amount in 2025 to March 13 — about 15% — that #Bitcoin is down. But with Bitcoin at about $80,000, what stops those trajectories? About a 6% decline in the S&P 500 could suggest what… pic.twitter.com/aMgL0LANFt — Mike McGlone (@mikemcglone11) March 14, 2025 The analyst explained that Bitcoin is more likely to face a significant correction that might push it downward to $10,000. Historically, the firstborn crypto experienced a deep correction in 2011 when the BTC declined to 92% from its high at that time. Has The Crash Begun?  In an X post, McGlone suggested Bitcoin’s crash to $10,000 may have already started, citing that risk markets are showing signs of overheating while gold rises. The analyst explained that gold has increased by 1% while Bitcoin went down, saying, “But with Bitcoin at about $80,000, what stops those trajectories?”  “About a 6% decline in the S&P 500 could suggest what matters. The biggest #ETF launch in history, President Donald Trump’s shift to highly volatile and speculative #cryptos, and reelection could prove [a] peak-bubble akin to about 25 years ago,” he added in a post, suggesting that BTC might have reached the peak of a dot-com-style bubble. Rebuttal Of The Analysis Many Bitcoin proponents and analysts disagree with McGlone’s analysis, with one crypto analyst, David Weisberger countering the evaluation of the Bloomberg analyst, saying his assessment was flawed. Related Reading: TRUMP Token Takedown—Did Insiders Plan The Crash? “When one considers an option as an asset, THIS is what happens to one’s analysis. If there was ZERO increase in Bitcoin adoption and IF those who invested thinking Bitcoin will demonetize gold change their minds and IF the stock market correction turns into a rout, and IF “BETA” was stable, Then this scenario could play out,” Weisberger explained.  He argued that the scenario in McGlone’s analysis is unlikely to happen. “I think none of the above will happen with a chance the stock market crashes, which, of course, would trigger a flood of liquidity.” Featured image from Gemini Imagen, chart from TradingView

Crypto analyst Madden has raised the possibility of the Bitcoin price rallying above $100,000 again, providing a bullish outlook for the flagship crypto. His analysis showed what is coming next for BTC and how it could reach this psychological price level.  Related Reading: 200 Million XRP On The Move—Is Ripple Preparing For A Big Play? Bitcoin Price Eyes Rally Above $100,000 With Potential Bullish Reversal In a TradingView post, Madden indicated that the Bitcoin price was eyeing a rally above $100,000 with a reversal looking likely. His accompanying chart showed that $91,700, $102,700, and $109,356 are potential price targets which BTC could hit as it reverses to the upside. A rally to $109,356 would mark a new all-time high (ATH) for the flagship crypto.  The crypto analyst alluded to some charts with important levels and relevant patterns to determine if the reversal is confirmed for the Bitcoin price. On the daily chart, he highlighted a Deep-Crab harmonic and Wolfe wave pattern to identify the reversal points. The Deep Cran pattern showed that BTC likely bottomed out when it touched $76,600, with the reversal now in play.  Madden also alluded to the CME daily chart for the Bitcoin price. He noted that there is a daily retest of the 200-day moving average (MA) and that the CME gap between $77,000 and $80,000 has been filled, indicating there is no reason for BTC to drop that low again. Meanwhile, the crypto analyst added that BTC is currently above the 2022 and 2024 top support line.  BTC Roadmap Moving Forward As part of his analysis, Madden also provided a roadmap and future outlook for the Bitcoin price. His accompanying chart showed that the flagship crypto could top at around $125,000 in this market cycle. Based on the chart, BTC will reach this price target by year end. Crypto expert Willy Woo also once suggested that Bitcoin could reach this target, as he described it as conservative.  The chart also showed that the Bitcoin price could enter into a bear market by 2026, dropping from the projected peak of $125,000 to as low as $40,000. This price drop to $40,000 could happen before 2026 ends.  In the meantime, the bullish reversal for the Bitcoin price is the major focus of market participants. Crypto analyst Ali Martinez stated that BTC is breaking out. He added that the target is $90,000 as long as the $84,000 support holds.  Crypto whales are already positioning themselves for the potential reversal of the Bitcoin price to $90,000. Martinez revealed that these whales have bought over 20,000 BTC in the last 48 hours.  Related Reading: Bitcoin And S&P Decline Together, But Data Predicts A Turnaround At the time of writing, the Bitcoin price is trading at around $84,500, up over 3% in the last 24 hours, according to data from CoinMarketCap.  Featured image from Pexels, chart from TradingView

Popular market analyst Egrag Crypto has dropped a Bitcoin price prediction due to the recent formation of a highly bullish chart pattern. The maiden cryptocurrency currently trades above $84,000 following its minor recovery in the latter part of last week. However, the continuity of the current bull run remains uncertain barring a sustained uptrend. Related Reading: Bitcoin’s MVRV Ratio Nears Key Level—Will This Trigger a Major Reversal? Bitcoin’s Bullish Chart Pattern Hints At Major Price Surge In an X post on March 14, Egrag Crypto states the BTC market may be preparing for a major price breakout. According to the technical analysis shared by the trading expert, Bitcoin has formed a Cup and Handle pattern hinting a major bullish move is on the horizon. For context, the Cup and Handle pattern represents a textbook bullish formation that occurs when an asset experiences a rounded bottom i.e. the cup followed by a slight pullback i.e. the handle before a breakout to new highs. This is well illustrated in the weekly chart below following BTC’s price action in the past two years. According to Egrag Crypto, the premier cryptocurrency is on the verge of a breakout with multiple potential price targets in sight. The non-logarithmic target presents a conservative possible price peak of $113,000. Meanwhile, the logarithmic scale which accounts for historical exponential gains points to a price target of $260,000. Taking an average of both methods, Egrag Crypto has picked a personal target of $186,000. The analyst also favors a potential price peak at $175,000 as indicated by the Fibonacci extension level of 1.618 which has historically acted as a reliable cycle top indicator. However, while this analysis presents a robust bullish prediction, Bitcoin must first experience a pullback to around $65,000 to initiate this price surge. Related Reading: Bitcoin Needs Weekly Close Above This Level To Confirm Market Bottom, Analyst Says Bitcoin Network Fees Drop By 24% In other news, IntoThe Block reports that Bitcoin network fees have decreased by 24.4% reaching $2.5 million which was last reported in September 2024. The analytics firm notes that this decline has occurred despite significant market changes which saw Bitcoin slip to $77,000 before rising to reclaim the $85,000 price level. Amidst Bitcoin’s larger struggles, IntoTheBlock also reports that exchange inflows grew by $840 million suggesting a weakening market confidence as investors move to sell their assets. At press time, the crypto market leader is valued at $84,545 reflecting a 3.12% gain in the past day. However, reported losses of 1.76% and 13.11% in the past seven and 30 days indicate a dominant bearish influence in recent weeks. Featured image from iStock, chart from TradingView

Bitcoin’s price trajectory has become a significant point of interest in light of the recent downtrend, which has disappointed many bullish traders. According to on-chain analytics platform IntoTheBlock, the recent price crash up to the current price has seen over 6.5 million BTC addresses falling into losses. Still, technical analysis suggests Bitcoin could experience further drops.  The question is whether Bitcoin will test the $70,000 mark before regaining strength or can rebound from here toward a $300,000 price target. Insights from price structure and historical patterns help provide a clearer picture of what’s next. Bitcoin Price Decline: A Normal Cycle Within Uptrends Despite concerns over Bitcoin’s recent price swings, crypto analyst Philip (BasicTradingTV) maintains that the market is behaving normally within a long-term bullish structure. He highlights that on the higher monthly timeframe, Bitcoin continues to create higher highs and higher lows and maintains a solid uptrend that dates back to 2017.  Related Reading: Bitcoin Price Suffers Bearish Deviation After Filling CME Gap, Is This Good Or Bad? This technical outlook, which was noted on the TradingView platform, comes as a response to concerns about whether BTC is still bullish after the ongoing 25% correction from its recent all-time high.  Traders have been unsettled following the recent drop, but historical trends suggest this kind of movement is part of the market’s natural cycle. According to the analyst, Bitcoin is still forming a bullish market structure, and while short-term fluctuations may continue, the broader uptrend channel from 2017 is still in place. Furthermore, the analyst noted previous instances of 25% and 40% corrections during Bitcoin’s rallies from the lower trendline of this uptrend channel. What’s Next For BTC? Possible Retest Of Resistance Before Rally To $300,000 With the notion of a long-term uptrend still intact, the analyst noted, however, that Bitcoin could continue its downtrend until it reaches $70,000. This level holds significant importance, as it previously marked Bitcoin’s all-time high before turning into resistance around mid-2024. After multiple attempts, Bitcoin eventually broke through this resistance toward the end of the year, leading to its new all-time high of $108,786 in January 2025. Related Reading: Bitcoin Price Action Says Bottom Is In, Analyst Reveals What’s Coming As such, this $70,000 level is now a major psychological support zone, making it a key area to watch amidst the ongoing Bitcoin price correction. From here, the analyst predicted a rebound that would send BTC to reach as high as $300,000. “Levels to watch: 70.000, $300.000,” the analyst said. At the time of writing, Bitcoin is trading at $82,555, having spent the majority of the past 24 hours trading between $79,947 and $83,436. This leaves Bitcoin still about 14% away from testing the $70,000 support level. However, there is also the possibility that BTC may not drop as low as $70,000 before bullish sentiment takes over once again. If Bitcoin continues to follow the trajectory of past cycles, Fibonacci extensions point to price targets between $150,000 and $300,000. Featured image from Unsplash, chart from Tradingview.com

Bitcoin price started a recovery wave above the $80,500 zone. BTC is now rising and might aim for a move above the $84,000 and $85,000 levels. Bitcoin started a decent recovery wave above the $81,000 zone. The price is trading above $81,500 and the 100 hourly Simple moving average. There was a break below a short-term bullish trend line with support at $83,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $82,500 and $84,000 levels. Bitcoin Price Eyes Steady Increase Bitcoin price remained stable above the $78,000 level. BTC formed a base and recently started a recovery wave above the $80,500 resistance level. The bulls pushed the price above the $82,000 resistance level. However, the bears were active near the $84,000 resistance zone. A high was formed at $84,200 and the price corrected some gains. There was a move below the $83,000 level. The price dipped below the 50% Fib retracement level of the upward move from the $76,818 swing low to the $84,200 high. Besides, there was a break below a short-term bullish trend line with support at $83,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $81,200 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $82,450 level. The first key resistance is near the $84,000 level. The next key resistance could be $85,000. A close above the $85,000 resistance might send the price further higher. In the stated case, the price could rise and test the $86,500 resistance level. Any more gains might send the price toward the $88,000 level or even $96,200. Another Drop In BTC? If Bitcoin fails to rise above the $82,450 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $80,500 level. The first major support is near the $79,600 level or the 61.8% Fib retracement level of the upward move from the $76,818 swing low to the $84,200 high. The next support is now near the $78,500 zone. Any more losses might send the price toward the $77,000 support in the near term. The main support sits at $76,500. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $80,500, followed by $79,600. Major Resistance Levels – $82,450 and $84,000.

Bitcoin price started a recovery wave above the $80,000 zone. BTC is now rising and might aim for a move above the $84,000 and $85,000 levels. Bitcoin started a decent recovery wave above the $80,000 zone. The price is trading above $82,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $82,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $84,000 and $85,000 levels. Bitcoin Price Eyes Breakout Bitcoin price remained strong above the $78,000 level. BTC formed a base and recently started a recovery wave above the $80,000 resistance level. The bulls pushed the price above the $82,000 resistance level. The price surpassed the 23.6% Fib retracement level of the downward wave from the $91,060 swing high to the $76,820 low. However, the bears are now active near the $84,000 resistance zone. Bitcoin price is now trading above $82,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $82,000 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $84,000 level and the 50% Fib retracement level of the downward wave from the $91,060 swing high to the $76,820 low. The first key resistance is near the $85,000 level. The next key resistance could be $85,650. A close above the $85,650 resistance might send the price further higher. In the stated case, the price could rise and test the $86,500 resistance level. Any more gains might send the price toward the $88,000 level or even $96,200. Another Drop In BTC? If Bitcoin fails to rise above the $84,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,000 level and the trend line. The first major support is near the $81,200 level. The next support is now near the $80,000 zone. Any more losses might send the price toward the $78,000 support in the near term. The main support sits at $76,500. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $82,000, followed by $81,200. Major Resistance Levels – $84,000 and $85,000.

Crypto analyst Tony Severino has warned that the Bitcoin price risks a further crash. This came as he revealed a critical technical indicator, which has turned bearish for the flagship crypto, although he noted that BTC bulls can still invalidate this current bearish setup.  Bitcoin Price At Risk Of Further Crash As S&P Monthly LMACD Turns Bearish In an X post, Severino indicated that the Bitcoin price could crash further as the S&P 500 monthly LMACD has begun to cross bearish and the histogram has turned red. This development is significant as IntoTheBlock data shows that BTC and the stock market still have a strong positive price correlation.   Related Reading: Bitcoin Price Action Says Bottom Is In, Analyst Reveals What’s Coming The crypto analyst stated that BTC bulls can turn this bearish setup for the Bitcoin price in the next 20 days, as diverging would lead to a bullish setup instead. However, the Bulls’ failure to turn this around for Bitcoin could lead to a massive decline for the flagship crypto, worse than it has already witnessed.  Severino stated that a confirmation of this bearish setup at the end of the month could kick off a bear market or Black Swan type event similar to what happened when the last two crossovers occurred. It is worth mentioning that BTC has already crashed to as low as $76,000 recently, sparking concerns that the bear market might already be here.  However, crypto experts such as BitMEX co-founder Arthur Hayes have suggested that the bull market is still well in play for the Bitcoin price. Hayes noted that BTC has corrected around 30% from its current all-time high (ATH), which he remarked is normal in a bull run. The BitMEX founder predicts that the flagship crypto will rebound once the US Federal Reserve begins to ease its monetary policies.  BTC Still Looking Good Despite Recent Crash Crypto analyst Kevin Capital has suggested that the Bitcoin price still looks good despite the recent crash. In his latest market update, he stated that BTC remains the best-looking chart and that everything is going according to plan for the flagship crypto. The analyst predicts that Bitcoin could still come down and test the range between $70,000 and $75,000, which he claims would still be completely fine.  Related Reading: Bitcoin 77% Correction To $25,000, Will History Repeat Itself Kevin Capital remarked that the Bitcoin price could remain afloat if it holds a key market structure and the 3-day MACD resets. He added that some decent macro data could help the flagship crypto stay above key support levels. The US CPI data will be released today, which could provide some relief for the market if it shows that inflation is slowing. The analyst is confident that one good inflation report and the FOMC can help turn the tides.  At the time of writing, the Bitcoin price is trading at around $81,860, up over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com

Bitcoin price started a fresh decline below the $86,000 zone. BTC is now correcting losses and might struggle near the $84,000 and $85,000 levels. Bitcoin started a fresh decline below the $85,000 zone. The price is trading below $84,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $82,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline if it fails to clear the $84,000 resistance zone. Bitcoin Price Faces Resistance Bitcoin price started a fresh decline below the $85,000 level. BTC traded below the $82,000 and $80,000 support levels. Finally, the price tested the $76,500 support zone. A low was formed at $76,818 and the price recently started a recovery wave. There was a move above the $78,000 and $80,000 resistance levels. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $91,060 swing high to the $76,818 low. There was a break above a key bearish trend line with resistance at $82,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $84,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $83,200 level. The first key resistance is near the $84,000 level. The 50% Fib retracement level of the downward move from the $91,060 swing high to the $76,818 low is also near $84,000. The next key resistance could be $85,000. A close above the $85,000 resistance might send the price further higher. In the stated case, the price could rise and test the $86,500 resistance level. Any more gains might send the price toward the $88,000 level or even $96,200. Another Drop In BTC? If Bitcoin fails to rise above the $84,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $81,200 level. The first major support is near the $80,000 level. The next support is now near the $78,000 zone. Any more losses might send the price toward the $76,500 support in the near term. The main support sits at $75,000. 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 – $81,000, followed by $80,000. Major Resistance Levels – $84,000 and $85,000.

Bitcoin has maintained its dominance on the altcoin market even amidst the ongoing price corrections. The leading cryptocurrency has been in the spotlight throughout this market cycle, but a technical outlook suggests that it needs to give way. Particularly, a crypto analyst known as Seth on social media platform X pointed to Bitcoin’s dominance relative strength index (RSI) as a crucial factor that must change before Bitcoin and the broader market can kick off another leg upward. Bitcoin Dominance RSI Hits New Level Seth’s latest analysis, shared on social media platform X, highlights a critical observation regarding Bitcoin’s market dominance. He noted that Bitcoin’s monthly dominance RSI recently surged to 70, a level that has never been reached before in Bitcoin’s history. While this might seem like a bullish signal at first glance, the analyst suggests otherwise, warning that the dominance RSI must cool down for the final phase of the bull run to take place. This perspective comes as the crypto market experiences a downturn, leaving investors questioning when the next bullish wave will begin. Related Reading: Bitcoin Price Suffers Bearish Deviation After Filling CME Gap, Is This Good Or Bad? RSI, or relative strength index, tracks the speed and change of price movements and is used to identify overbought or oversold conditions. With Bitcoin’s RSI dominance at such an extreme level, even with the recent price decline, it suggests that BTC’s control over the market is at an unsustainable peak, which could slow down the broader market rally. According to Seth, those who fail to grasp this concept do not understand the fundamental mechanics of financial markets, as this principle applies beyond just Bitcoin and altcoins. Given this, the healthiest path forward would be a reduction in Bitcoin’s dominance over the next few weeks, with the analyst projecting a fall to 44% dominance. Why BTC’s RSI Dominance Decline Matters A decline in Bitcoin’s RSI dominance would mean that the market is shifting toward more balanced conditions, allowing capital to flow into altcoins and drive up their prices. Throughout past bull cycles, particularly in 2021, Bitcoin’s rise to a peak was often followed by a surge in altcoin investments, triggering widespread rallies across the market. Related Reading: Bitcoin Price Consolidates In Tight Zone: Why A Crash To $84,000 Is Likely This pattern has historically marked the final phase of a bull run, where capital flows away from Bitcoin and into altcoins with a higher potential for short-term gains. Until Bitcoin’s dominance cools off, the altcoin sector may struggle to gain momentum and continue to derail the final phase of the BTC bull run. At the time of writing, BTC is trading at $81,500, reflecting a 2.5% decline in the last 24 hours. Market data from CoinMarketCap indicates that Bitcoin’s dominance currently stands at 61.0%, having risen by 0.65% within the same period. This growing dominance suggests that capital remains concentrated in BTC. Featured image from Unsplash, chart from Tradingview.com

The recent decline in the price of Bitcoin to $80,000 has prompted speculation regarding whether this represents a sign of frailty or an opportunity to invest. Market watchers differ in opinion. While some view the drop as a passing setback, others see it as an opportunity. One analyst predicts that Bitcoin might yet reach $150,000 this year, which would inspire interest on its future. Related Reading: XRP Set For A ‘Life-Changing’ Month? Expert Sees $27 Incoming An Unexpected Drop In The Value Of Bitcoin Bitcoin tumbled to $80,000 over the weekend, marking its lowest point in months. This drop came after weeks of price swings that kept traders on edge. The selling demand was too strong, although many investors projected Bitcoin to stay above $85,000. Different elements helped to explain the fall. Rising US inflation concerns and a stronger dollar pressured risk assets, including cryptocurrencies. Some analysts, meantime, also noted profit-taking by long-term holders trying to lock in their gains after Bitcoin’s recent ascent. Analyst Anticipates $150K Increase Although the economy has experienced a decline, there are still individuals who are optimistic. Tom Lee, a renowned Bitcoin analyst, anticipates that the price will rebound and reach $150,000 by the end of the year. He claims Bitcoin bull runs are marked by abrupt occurrences, and that failure to capitalize on these sudden shifts in market dynamics could result in big losses. Lee points to historical patterns. Past Bitcoin corrections have often led to explosive rallies, with prices doubling or tripling in a short time. He also highlights the growing interest from institutional investors as a reason why Bitcoin could still see a strong upward move. Some traders share this optimism, believing that any dips below $80,000 will be short-lived. Related Reading: Dogecoin’s Fate Hinges On $0.16—Breakout Or Breakdown Ahead? Market Sentiment And The Road Ahead The most recent price action has made people in the market feel a range of emotion. There are investors who are nervous and investors who see the pullback as a good correction. Meanwhile, the Crypto Fear & Greed Index, a tool that measures how investors feel, has moved into the “Extreme Fear” zone. This shows that people aren’t sure what Bitcoin will do next. On-chain data shows that the way people trade has changed. Whales, or people who own a lot of Bitcoin, have been buying more during the drop, which shows that they are optimistic about the long-term outlook. On the other hand, retail traders seem to be more cautious and are looking for signs of stability before getting back in. Featured image from Gemini Imagen, chart from TradingView

Since January 31, Bitcoin (BTC) has experienced a significant correction, with the leading cryptocurrency plummeting as much as 27.52%. Currently valued around $79,000, Bitcoin’s price is precariously balanced above a crucial support level dubbed as “the magic line,” which is set at $74,000, pivotal in determining the market’s trajectory—bullish or bearish. A Historical Buffer Against Bear Markets In a recent social media post on X (formerly Twitter), market expert Doctor Profit emphasized that “the magic line” placed at $74,000 in his analysis is not just a number but a key indicator of market sentiment.  Related Reading: Charts Reveal Cardano Holds Key Support Zone – Staying Above Could ‘Set The Next Move’ According to the expert, this line has historically acted as a buffer against bear market conditions. For instance, during the 2020 market correction, Bitcoin held above this support level until a bear market was confirmed. Doctor Profit asserts, “A massive correction, even 30-50%, does NOT mean a bear market.”  This market volatility is exacerbated by fears of a recession, driven in part by President Donald Trump’s aggressive tariff policies targeting countries like China, Canada, and Mexico.  These actions have ignited concerns over a potential trade war, further dampening investor sentiment and leading to a retreat from riskier assets, including cryptocurrencies. However, BTC is not alone in this downtrend. Peers such as Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), have also followed Bitcoin’s lead in this regard, experiencing 10%, 6%,5% and 6% drops respectively in the 24-hour time frame.  Optimal Bitcoin Entry Point Between $52,000 and $60,000? In another recent post on social media platform X, Doctor Profit discussed a possible recession scenario, suggesting that the optimal entry point for investors might be between $52,000 and $60,000.  This forecast implies a troubling potential drop of another 34% from $79,000 towards the worst case scenario for BTC’s price at $52,000 if this occurs, heightening concerns among traders and investors alike. Related Reading: Ethereum Holds Strong For Over A Year: Monthly Close Below This Level Could Be Catastrophic Doctor Profit remains vigilant, monitoring not only Bitcoin’s movements but also the stock market’s influence on crypto prices. He has set his sights on a critical short position with a target profit level (TP1) aligning with the magic line.  “If Bitcoin bounces hard, I’ll re-enter,” the market expert stated. Doctor Profit concluded his analysis saying that “If it shows weakness, I’ll stay in cash and hunt for lower entries between $50,000 and $60,000.” While finding at least a temporary foothold at the $79,460 mark, the largest digital asset, BTC, is down 14% in the past two weeks, reaching its lowest level since November 2024. Featured image from DALL-E, chart from TradingView.com

Michael Saylor, co-founder and chairman of Strategy (formerly Microstrategy), is intensifying efforts to acquire Bitcoin (BTC) by tapping into capital markets, announcing plans to issue up to $21 billion in preferred stock.  Strategy Plans Major Sale Of Preferred Shares According to Bloomberg, the new offering will consist of 8% series A perpetual-strike preferred shares, which are convertible into class A common stock. The company plans to sell these shares through an “at the market offering” program, allowing for flexibility in timing and pricing.  This approach builds on a previous successful effort in January, when Strategy raised $563 million by issuing preferred shares priced at $80 each, which were offered at a discount to their market value. Related Reading: Dogecoin Crash? Analyst Predicts Drop To $0.12 Before Rebound Preferred stocks are unique hybrid securities that combine features of both equity and debt, offering investors a fixed dividend while providing a claim on company assets. The favorable terms of the January deal reportedly attracted significant investor interest, contributing to a strong performance of the newly issued shares. Since late October, Strategy has been actively acquiring Bitcoin, and the latest capital raise is part of a broader strategy to secure $42 billion over the next few years through various securities offerings.  This includes a focus on selling fixed-income securities while managing common stock sales to fund additional BTC purchases. Currently, the firm holds approximately 499,096 Bitcoin, valued at around $42 billion. Shares Drop 10% Amid Bitcoin Crash Despite this purchase plan, Strategy reported that it did not purchase any Bitcoin between March 3 and March 9, according to a filing with the US Securities and Exchange Commission.  This pause comes amid a fluctuating cryptocurrency market, where the market’s leading crypto, BTC, recently trades at $79,000 down 4.5% for the day and approximately 18% on the monthly time frame. The preferred stock market has seen varied performance; while the shares climbed 18% from their initial pricing, they faced a decline of over 6% in a recent trading session as the supply increased.  Related Reading: Cardano Bulls Eye $10 Target – Analyst Reveals Key Levels To Break Despite this fluctuation, the preferred shares have outperformed common stock and Bitcoin over the same period, suggesting a robust demand from investors. As seen in the daily chart below, shares of Strategy (MSTR), also experienced a drop of around 15% to $238 on Monday, reflecting broader market trends that have seen the company’s stock down approximately 10% this year.  In contrast, shares have surged over 2,200% since Saylor began investing in Bitcoin as an inflation hedge in 2020, while Bitcoin itself has risen over 600%. The announcement of Strategy’s plans coincided with recent developments from the US government. President Donald Trump signed an executive order to create a strategic US Bitcoin reserve, which will be funded through cryptocurrencies forfeited in legal proceedings.  Featured image from DALL-E, chart from TradingView.com 

Bitcoin price started a fresh decline from the $90,000 zone. BTC is back below $82,500 and might continue to move down below $78,000. Bitcoin started a fresh decline below the $82,000 zone. The price is trading below $80,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $82,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline if it fails to clear the $82,000 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price started a fresh decline below the $85,000 level. BTC traded below the $83,000 and $80,000 support levels. Finally, the price tested the $76,500 support zone. A low was formed at $76,818 and the price recently started a consolidation phase. There was a move above the $78,000 and $78,500 resistance levels. The bulls pushed the price toward the 23.6% Fib retracement level of the downward move from the $91,060 swing high to the $76,818 low. Bitcoin price is now trading below $80,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $80,200 level. The first key resistance is near the $82,000 level. There is also a key bearish trend line forming with resistance at $82,200 on the hourly chart of the BTC/USD pair. The next key resistance could be $84,000. It is near the 50% Fib retracement level of the downward move from the $91,060 swing high to the $76,818 low. A close above the $84,000 resistance might send the price further higher. In the stated case, the price could rise and test the $85,500 resistance level. Any more gains might send the price toward the $88,000 level or even $96,200. Another Drop In BTC? If Bitcoin fails to rise above the $82,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $77,200 level. The first major support is near the $76,500 level. The next support is now near the $75,000 zone. Any more losses might send the price toward the $72,000 support in the near term. The main support sits at $70,000. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $76,500, followed by $75,000. Major Resistance Levels – $80,000 and $82,000.