🔻 BTC Drops Below $90K
After trading in a tight range for most of February, Bitcoin slipped below $90,000, hitting $88,956. This decline signals growing bearish pressure, raising concerns that further losses could follow in March.
🐋 Whales Are Holding Back
According to Santiment analyst Brian, Bitcoin whales have paused accumulation, reducing their trading activity. Data from IntoTheBlock shows that large holders' netflow has dropped 600% in the last month, indicating increased selling pressure.
📊 Range-Bound or Breakout?
John Glover, CIO at Ledn, believes BTC will likely remain between $89,000 and $108,000 in March. While some analysts see a potential dip to $77,000, others believe the bottom is in, with a possible rally to $130,000 in the coming months.
🇺🇸 Trump’s Impact on BTC?
Some investors speculate that Donald Trump’s pro-crypto stance could affect Bitcoin’s price. However, Glover believes the "Trump effect" is already priced in, with regulatory changes unlikely to impact short-term price movements.
📉 BTC Nears Oversold Levels – Rebound Ahead?
Bitcoin’s RSI is at 31.16, approaching oversold territory. If selling pressure eases, BTC could bounce to $92,325. However, if declines continue, it may test $80,835 as the next support.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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