Bitcoin (BTC) is trading at $85,998.23, a 3.34% decrease in the last 24 hours and a 1.08% increase over the previous seven days, according to CoinMarketCap. Notably, this is a recovery from the sharp drop below $79,000 on February 28, when the crypto lost 8.36% of its value in a single day.
Bitcoin’s value has been volatile recently; it dropped below $80,000 for the first time since November 2024 on February 28, following Trump’s tariff threats on Europe. This downward trend was briefly reversed on March 2 when Bitcoin reached $94,727 after Trump’s March 1 announcement regarding a crypto reserve. However, just two days later, the price fell back down to $82,171.
Despite recent gains, market sentiment remains cautious. The Crypto Fear & Greed Index, which measures overall market sentiment, remains at 25, indicating “Extreme Fear,” despite a 5-point increase.
Market/Technical Indicators
Bitcoin has tested critical resistance and support levels in recent weeks. The February 28 sell-off saw BTC fall from $86,169.36 to $78,746.41 amid heightened trading volume, signalling strong market activity.
Technical indicators present mixed signals. The Relative Strength Index (RSI) currently stands at 49, which suggests taking a neutral stance. Meanwhile,Bitcoin price recently breached the 30-day moving average (MA), signalling bearish sentiment, but remains above the 200-day MA, indicating that the long-term uptrend is still intact.
In a March 5 X post, Michaël van de Poppe, founder of MN Trading, identified $91,500 as a “crucial resistance” level.
“Basically, if that flips, we’re back in the range, and we’ll go to the other side of the range, which is a new all-time high,” van de Poppe wrote.
Expert Price Predictions
Mitch, a Bitcoin Advocate, expects Bitcoin to consolidate between $75,000 and $80,000 over the next two months, and then by May, Bitcoin could claim the 200MA’s break out
PlanB, creator of the Stock-to-Flow (S2F) model, projects Bitcoin reaching $90,000 by mid-2025. He bases this on post-halving cycle trends, noting that the 2024 halving typically precedes a bullish phase within 6 to 12 months, though macroeconomic challenges could delay this rally.
Cathie Wood of ARK Invest forecasts Bitcoin hitting $150,000 by the end of 2025, driven by growing institutional adoption and Bitcoin’s potential as a global reserve asset amid inflationary pressures.
Crypto commentator Bitcoin Malaya stated on March 5 that people are uncertain about Bitcoin’s short-term performance and are waiting for the results of upcoming events like the US Crypto Summit.
Can Bitcoin Go Past $100,000 Again Before the End of 2025?
Experts are divided. Analyst Willy Woo believes it’s possible, citing a potential supply shock as more BTC is locked in long-term wallets. Bitfinex analysts predicted that there would be significant resistance to any recovery that would take the price back above $94,000, due to the sharp drawdown.
While historical patterns and supply-demand factors support the possibility, regulatory uncertainty and macroeconomic instability pose risks. Bitcoin’s price action in the coming months will be crucial in determining whether it can break past six figures.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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