Bitcoin is currently trading near a critical resistance zone around $94,250, a level known as the golden ratio in Fibonacci analysis. This level is considered highly important in both technical trading and natural patterns, and often marks strong turning points in price. Bitcoin reaching this level suggests the recent rally may be slowing down, and traders are watching closely to see what happens next.
So far, Bitcoin has shown signs of a possible five-wave move from its April low. If this pattern completes, it would be a clear sign of bullish strength and could open the door for further gains. However, if the move turns out to be only a three-wave structure, it may mean that the market is still in a broader bear trend, and this recent rise was just a temporary recovery.
Key support for the current trend is between $84,526 and $88,494. As long as the price stays above this zone, the outlook remains positive in the short term. There is also a minor support zone between $91,047 and $93,581 that could help hold the price up in the coming days.
Traders should keep an eye on these levels. If Bitcoin can hold above support and break past the $94,250 resistance with strong momentum, the next target could be as high as $130,000 in the longer term. However, a drop below support may signal weakness and increase the risk of a deeper correction.
Bitcoin’s price remains volatile as traders react to major economic events, including Trump’s crypto reserve, tariffs, and the Federal Reserve’s latest stance.
Bitcoin (BTC) Finds Support at $86,000 after Volatile Week
Bitcoin’s price has experienced significant volatility over the past week, influenced by various economic and political developments. As of Saturday, Bitcoin is trading at approximately $86,000, reflecting a 7% decline from its peak earlier in the week.
Several key factors have contributed to this price movement, including President Donald Trump’s announcement of a strategic cryptocurrency reserve, the implementation of new tariffs, the outcomes of a White House summit on digital assets, and the latest U.S. Non-Farm Payrolls (NFP) report.
On March 2, President Trump unveiled plans for a U.S. strategic cryptocurrency reserve, dubbed the “Digital Fort Knox,” aiming to bolster the nation’s position in the digital asset space. This reserve is set to include major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).
Bitcoin Price Action, March 8, 2025
The announcement led to a swift market reaction, with Bitcoin surging 13% moving from local lows around $78,200 to hit a monthly time frame peak of $95,000 within 48 hours of Trump’s crypto strategic reserve announcement . Altcoins like XRP and Cardano saw even more substantial gains, with XRP rising by 40% and Cardano doubling in value.
While the inclusion of altcoins sparked debate among Bitcoin purists, the administration defended the decision as a move to support a diverse range of blockchain projects.
However, further market events prompted short-term traders to take profits, causing Bitcoin’s momentum to record 4 consecutive losing days as the week unfolded.
2) Implementation of New Tariffs Introduces Volatility
On March 3, President Trump announced a 25% blanket tariff on all imports from China and Mexico, aiming to protect domestic industries. This policy shift rattled global financial markets, leading to a sharp sell-off in risk assets, including cryptocurrencies. Bitcoin’s price retraced its earlier gains, dipping to a weekly low of $81,400 by March 4.
In response to retaliatory measures from the affected countries and domestic pushback, the administration partially rolled back the tariffs. On March 6, the U.S. Secretary of Commerce announced exemptions for Mexican imports and a one-month delay for auto import tariffs. This policy reversal provided a relief rally for Bitcoin, contributing to consecutive days of price appreciation.
3) White House Summit on Digital Assets
The week culminated with a White House summit on digital assets, where industry leaders and policymakers convened to discuss the future of cryptocurrencies in the U.S. Prior to the summit, David Sacks, the administration’s crypto and AI policy advisor, criticized the previous administration for missing out on potential profits from seized Bitcoin assets. He highlighted that the government currently holds approximately 200,000 BTC, valued at over $17 billion, acquired through legal seizures.
During the summit, President Trump signed an executive order to formalize the creation of the “Digital Fort Knox,” reinforcing the administration’s commitment to integrating cryptocurrencies into the national financial infrastructure. However, the lack of immediate actionable policies led to a 4% decline in Bitcoin’s value post-summit, reflecting market disappointment over the absence of concrete regulatory guidance.
4) Impact of Non-Farm Payrolls Report
The latest U.S. Non-Farm Payrolls (NFP) report, released on March 7, revealed an increase in unemployment rates, raising concerns about persistent inflation and the potential for more aggressive monetary tightening by the Federal Reserve. These macroeconomic factors have added downward pressure on Bitcoin, as investors reassess risk exposures in light of potential interest rate hikes.
Bitcoin Price Outlook: Bulls must hold $85,000 Support to Maintain Upside Prospects
BTC price stabilization around the $86,000 level suggests a consolidation phase as the market digests recent developments. Traders will closely monitor upcoming economic indicators, Federal Reserve communications, and any further policy announcements related to digital assets will likely dictate the next directional move in the coming days.
Bitcoin price forecast signals on the the 12-hour chart shows Bitcoin trading within a tight range, with Bollinger Bands compressing, indicating lower volatility. The price hovers near the 50-day moving average, acting as immediate support, while the upper Bollinger Band at $93,822 serves as resistance.
Bitcoin Price Forecast
Momentum indicators suggest mixed signals. The MACD histogram shows declining bullish momentum, with the signal line approaching a bearish crossover. However, the overall structure remains intact, as long as Bitcoin holds above $85,000.
A break below this level could trigger further downside towards $80,800, the lower Bollinger Band, while a rebound could send Bitcoin toward the $87,346 mid-band resistance before a possible push to the $90,000 psychological level.
Leverage remains a key factor, with increased open interest potentially amplifying Bitcoin’s next move. Traders should watch volume trends and liquidity imbalances, as a sharp liquidation event could define the next major price swing.
Amidst increasing crypto hacks, experts caution against a newly identified malware campaign. North Korean hackers, linked to the notorious Lazarus Group, have reportedly created three shell companies, including two in the US, to spread malware targeting crypto developers.
Through phony job interviews, these scammers trick people into compromising their crypto wallets and stealing credentials, which enables further attacks on legitimate businesses.
North Korean Hackers Target Developers: Know the Crypto Hack Risks
Cybersecurity firm Silent Push recently released a warning against the increasing crypto hacks orchestrated by the notorious North Korean hackers. The Lazarus-linked group has set up three fake companies to deliver malware to the targeted victims. These companies include BlockNovas, Angeloper Agency, and SoftGlide.
Via fake interviews, these scammers send malware to crypto developers, which will help them steal credentials and attack the businesses. The cybersecurity firm stated, “These websites and a huge network of accounts on hiring / recruiting websites are being used to trick people into applying for jobs.” Further explaining the procedures involved in the hacking, the firm added,
During the job application process an error message is displayed as someone tries to record an introduction video. The solution is an easy click fix copy and paste trick, which leads to malware if the unsuspecting developer completes the process.
Fake Employees via AI
An interesting part of the North Korean hackers’ crypto hack is the use of artificial intelligence to create fake employees. The hackers use AI to generate images and profiles for fake employees for the three front companies.
In some cases, the hackers have even stolen real images of crypto developers working in prominent firms. Silent Push noted,
There are numerous fake employees and stolen images from real people being used across this network…In one of the examples, the threat actors took a real photo from a real person, and then appeared to have run it through an AI image modifier tool to create a subtly different version of that same image.
Though the Federal Bureau of Investigation declined to comment on the two fake companies in the US, they revealed the seizure of the Blocknovas domain as part of a law enforcement action against North Korean hackers. The bureau is targeting not only the actors but also those facilitating their schemes. An FBI official described North Korean cyber operations as “one of the most advanced persistent threats” facing the US.
The crypto markets are displaying significant strength since the early trading hours, with the prices of most of the tokens remaining inflated. Altcoins like PENGU, XMR, DEEP, etc., and a few more have been attracting double-digit gains, while some are experiencing minor losses. Meanwhile, Bitcoin has sustained above $94,000 as the global trading volume has begun to recover yet again. With the start of the American trade, the buying pressure is increasing and hence, with the rise in positive sentiments, the BTC price is believed to rise above the crucial resistance levels.
A few days before, the bulls utilized all their strength to elevate the BTC price above the consolidation around $85,000. The volume increased from $15 billion to $55 billion, which later began to drop gradually to close to $20 billion. In the times when the spot retail traders have refrained from entering a fresh trade, the whales have begun aggressive accumulation. Ever since the latest rebound, the whales seem to have smelled a fresh bullish case and hence have increased their accumulation.
The data from Glassnode indicates the whales have been aggressively accumulating over the past few days. The number of wallets with a balance over 1000 BTC witnessed a sudden rise from 17.2K to 17.3K, indicating the whales are foreseeing a bullish trajectory for the token. The whales are buying BTC like never before, which suggests a massive price action could be on the horizon. The new whales appear to be more aggressive than the old ones, substantiating the bullish claim.
Is Bitcoin (BTC) Price on Its Way to $100K?
After breaking above the falling wedge, the BTC price surged extensively and surpassed the local resistance at $88,500 and entered a pivotal range between $94,170 and $94,900. The bulls are working hard to keep the rally restricted within the range. Once the bulls accumulate the required strength, the token is expected to trigger a fresh upswing, elevating the levels beyond $100K.
The daily chart of Bitcoin is progressive as the price is closely consolidating around the gains, experiencing equal bullish and bearish pressure. The RSI is about to enter the overbought zone, and the CMF has been maintaining a decent ascending trend. This suggests a significant inflow of money onto the platform. Hence, hinting towards a rise in bullish sentiments within the market. Once the Bitcoin (BTC) price rises above the pivotal resistance at $98,500 to $99,000, rising above $100,000 is imminent.
The post Bitcoin Price Prediction-Here’s What’s Incoming for the BTC Price Rally This Week appeared first on Coinpedia Fintech News
The crypto markets are displaying significant strength since the early trading hours, with the prices of most of the tokens remaining inflated. Altcoins like PENGU, XMR, DEEP, etc., and a few more have been attracting double-digit gains, while some are experiencing minor losses. Meanwhile, Bitcoin has sustained above $94,000 as the global trading volume has …
