Bitcoin (BTC) Nears a Potential Trendline Breakout, With the Possibility of Surging to $95K

Bitcoin (BTC) is nearing a potential trendline breakout, with the possibility of surging to $95K, while long-term targets extend to $110K.

Bitcoin (BTC) price is approaching a potential trendline breakout, setting the stage for a surge to $95K, with long-term price targets extending to $110K.

Bitcoin price analysis shows that the V-shaped reversal is gaining momentum as the BTC/USD pair continues to recover. Commencing the recent downswing at the $76,600 level, the cryptocurrency has now increased by 14%.

As per the Fibonacci levels, the price has managed to reclaim the 61.80% Fibonacci level at $86,146. Currently, Bitcoin trades at a market of $87,182, showcasing its second consecutive bullish candle.

As the chart highlights, the daily RSI line is indicating a surge in bullish momentum with its resurfacing above the halfway line. Furthermore, the short-term recovery is hinting at a positive crossover between the recently converged 20-day and 200-day EMA lines.

However, the medium-term trend remains negative due to the negative crossover between the 50-day and 100-day EMA lines.

Arthur Hayes Predicts Bitcoin Price to Hit $110K

In other developments, BitMEX co-founder Arthur Hayes predicts that Bitcoin price will reach $110,000 before retesting crucial support at $76,500. According to Hayes, this bullish rally will be driven by a shift in the Federal Reserve’s stance from quantitative tightening (QT) to quantitative easing (QE) for U.S. Treasuries.

He also disregarded the ongoing tariff wars, calling them “transitory inflation” in the global markets.

I bet $BTC hits $110k before it retests $76.5k.

Y? The Fed is going from QT to QE for treasuries. And tariffs don’t matter cause “transitory inflation”. JAYPOW told me so.

I’ll expound on that in my next essay, that’s the TLDR for your TikTok peanut brain.

— Arthur Hayes (@CryptoHayes) March 24, 2025

Metaplanet Adds More BTC

In other news, MetaPlanet, the Japanese counterpart of Strategy, has recently added $12.6 million worth of Bitcoin to its holdings following the appointment of Eric Trump to its advisory board.

This new addition brings the total BTC holdings of MetaPlanet to 3,350, currently valued at $291.3 million. With institutional support and the macroeconomic conditions favoring Bitcoin, the uptrend is likely to continue.

*Metaplanet Acquires Additional 150 $BTC, Now Holds 3,350 BTC* pic.twitter.com/sakdkwHSQZ

— Metaplanet Inc. (@Metaplanet_JP) March 24, 2025

Market Takes a Holding Stance

On the network side, crypto analyst Ali Martinez has highlighted a significant shift in Bitcoin’s transfer volume. Over the past month, the total transfer volume has nearly halved, dropping from $87 billion to $42 billion.

This substantial decline in transfer volume suggests that market sentiment has shifted towards a holding stance.

The immediate price target is the 78.6% Fibonacci level, closely related to the $95,000 mark. Hitting this target would yield an upside potential of around 10%. On the downside, crucial support levels are located at the $85,000 mark and in the vicinity of the 200-day EMA line.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic will not be responsible for any financial losses.