Bitcoin (BTC) Price Outlook for March 2025: Is a Rebound Possible?
Bitcoin (BTC) has fallen below $90,000, currently trading at $88,956 amid increased bearish pressure. Analysts express concern about reduced trading activity among large holders, potentially leading to further price declines. Predictions suggest Bitcoin may range between $89,000 and $108,000 in March, with some indicators hinting at a possible rebound.
In February, Bitcoin (BTC) saw a troubling trend, breaking below the $90,000 threshold for the first time since November. Presently, it is trading at $88,956. This downturn is indicative of increasing bearish sentiment, prompting speculation that this decline may persist into March.
Market analysts are weighing the potential outcomes for Bitcoin’s price movement. According to Brian, a lead analyst at Santiment, major Bitcoin holders, or whales, are currently reducing their trading activity, which may precipitate further decreases in Bitcoin’s value. He stated, “Bitcoin whales seem to have taken a bit of a breather and aren’t accumulating at the moment (mostly staying flat).”
Supporting this viewpoint, data from IntoTheBlock reveals a dramatic 600% drop in netflow among Bitcoin’s large holders within the past month. This trend indicates that major investors are offloading their holdings, contributing to increased market supply, which places additional downward pressure on the price of BTC.
John Glover, Chief Investment Officer at Ledn, anticipates that Bitcoin will likely fluctuate between $89,000 and $108,000 throughout March. He mentions, “From a technical perspective, BTC is following 1 of 2 paths… My personal view is that we remain stuck in a range of $89,000 to 108,000 in March.”
Concerns regarding the impact of President Donald Trump’s pro-cryptocurrency stance linger among investors. However, Glover believes that the effects of Trump’s policies have already been largely integrated into the market. He stated, “The majority of the ‘Trump effect’ has already been felt.”
Current indicators suggest that Bitcoin is approaching oversold territory, with a Relative Strength Index (RSI) reading of 31.16. This metric indicates market conditions, with values under 30 suggesting oversold conditions that may lead to a rebound. Should selling pressure abate, Bitcoin could rebound toward $92,325, while continued declines could see it fall to $80,835.
In summary, Bitcoin’s recent decline below $90,000 reflects increasing bearish sentiment and reduced activity from large holders in the market. Analysts are considering possible price ranges for March, with opinions varying on whether it may rebound or continue to decline. The impact of external influences, such as political support for cryptocurrency, may play a role; however, influences from established figures may already be priced in. The current oversold levels indicate potential for recovery if selling pressure eases.
Original Source: beincrypto.com
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