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Bitcoin's price has experienced intense fluctuations in recent days, driven by major geopolitical and macroeconomic factors.
Key Insights:
* Bitcoin’s price has experienced volatile trading in recent days, with major geopolitical and macroeconomic factors influencing the cryptocurrency’s market performance.
* Earlier this month, there was a strong rally in Bitcoin, nearly reaching $95,000, following U.S. President Donald Trump’s announcement that his administration was working on establishing a strategic Bitcoin reserve.
* However, the rally quickly lost momentum, leading to a sharp price correction. By March 4, Bitcoin’s valuation had dropped below $83,000, as concerns over the escalating global trade war weighed on financial markets.
* Despite this setback, bulls attempted to regain control, pushing BTC price back to $92,300 on March 6. However, the momentum was short-lived, and by March 11, Bitcoin had declined below $77,000, marking its lowest level since November 2024.
* Over the past 24 hours, the asset has shown signs of recovery, briefly reaching $84,000 before stabilizing at around $81,778 at the time of writing.
* Amid Bitcoin price woes, recent on-chain data highlights an increase in Bitcoin inflows to accumulation addresses, suggesting heightened buying activity.
* A chart shared by analyst Vivek shows how these inflows, which represent BTC deposits into long-term holding addresses, have surged to unprecedented levels.
* Notably, a significant spike in accumulation was observed late last year, indicating that large investors, commonly referred to as whales, have been aggressively accumulating Bitcoin.
* Key indicators in the analysis include the BTC price 30-day simple moving average (SMA), which tracks the average price over a month, and the inflows 30-day SMA, which smoothes out daily accumulation activity.
* The data indicates that in recent weeks, daily BTC inflows into accumulation addresses have reached peaks of over 36,000 BTC on specific days.
* Historically, surges in accumulation have often coincided with increases in Bitcoin price, suggesting a potential bullish trend.
* Other market analysts have been closely monitoring global liquidity trends, as they have historically influenced BTC price cycles.
* Analyst AO’s latest research presents a correlation between Bitcoin’s price movements and the Global Liquidity Index, which measures overall market liquidity.
* The research splits into two displays: one shows BTC price history while the other shows global liquidity growth.
* History proves that Bitcoin experiences major price growth during periods of global liquidity across markets.
* Liquidity has increased across market sectors again this year, showing the same pattern as earlier bull markets which produced strong price growth.
* The analyst highlights that if past trends repeat, we could see Bitcoin reaching $450,000.
* Elsewhere, according to Rekt Capital, Bitcoin’s price movement on the daily chart shows positive indicators that could lead to an increase in the cryptocurrency’s value.
* The analysis indicates that Bitcoin has been in a downtrend, characterized by lower highs and lower lows.
* However, recent price action suggests that the market might be moving toward a resurgence.
* On March 11, Bitcoin slipped below the $80,000 mark for a short period before returning above it to reach $83,168.
* A downward-sloping trendline remains intact, but a break above it could signal the start of a price recovery.
* RSI data points to improving market conditions with no overlapping price action but rising trend lines.
* As Bitcoin fell to its lower lows, RSI recorded new higher lows, indicating that the bearish force is weakening.
* The setup shows that Bitcoin may soon return to an upward movement.
* Another chart from analyst Mister Crypto compares Bitcoin’s current price cycle to its 2021 trajectory.
* Recent trends across the market suggest that Bitcoin will likely duplicate its impressive performance from late 2020 and early 2021.
* The trend shows likely exponential Bitcoin growth with estimates reaching between $400,000 and $900,000.
* For Bitcoin to reach these levels, it must break out of its recent area of variability around $80,000.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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