The crypto market is still facing capitulation as most digital currencies are reversing the selloffs registered in the past week. The price of Bitcoin (BTC) remains in the spotlight as the combined crypto market capitalization jumped 2.44% to $2.76 trillion. With sellers quietly exiting the market, whether the underlying factors can sustain the current outlook remains unknown.
Crypto Market Rebound, Here’s The Trigger
Uncertainty has defined the trajectory of the most assets thus far this month as top coins dropped to their lowest levels this year. While Bitcoin’s price has shown strength, it fell to a low of $76,624.24 before reclaiming the $80,000 mark according to CoinMarketCap data.
Altcoins like Ethereum (ETH) and Solana (SOL) also dropped to new multi-week lows earlier in the month. While Ethereum fell to a monthly low of $1,760.94, Solana bears dragged the coin down to a $113 low. As it stands, BTC and altcoins have bounced off key support, which was formed at their respective monthly lows.
Since the Digital Asset Summit earlier in the week, the crypto market has not witnessed any bearish negative news. Rather, investors are digesting the Trump promise of stablecoin legislation from Congress and a BTC reserve confirmation.
On the macroeconomic level, mainstream media updates regarding the tariff war have toned down, giving the stock market room to recover.
More Selloff Ahead for Bitcoin Price?
At the time of writing, the BTC price had changed hands for $84,295.18, up 2.4% in 24 hours. The coin has pared off the losses incurred in the past week. However, the BTC price still maintains its 30-day loss of 14.27%.
At the moment, shorter-term headwinds in the market are cleared, with ETF investors returning to the scene. Per an earlier CoinGape report, spot Bitcoin ETFs scored an inflow of $785 million after a tumultuous 7-day trend.
Unlike a typical weekend in the industry known for its volatility, BTC prices show stability. Should the positive regulatory shift continue, Bitcoin might turn the $84,000 level into sustainable support.
Where is the Crypto Market Heading?
The current bullish outlook also extends to other altcoins. Per an earlier Solana price analysis, the prospect of a $1000 breakout was explored as the coin formed a parabolic base.
XRP is also in the spotlight following the Ripple and SEC lawsuit resolution, which has carved a positive growth path for it. While most analysts have different price projections for top coins, including Cardano and Dogecoin, the visible outlook shows a tempered selloff for now.
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.