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CoinGape 2025-03-04 13:45:35

Here’s Why Bitcoin Price Will Be Stuck Between $70K and $90K for a While

Here’s Why Bitcoin Price Will Be Stuck Between $70K and $90K for a While

Bitcoin price has been highly volatile since last week. BTC initially plunged from near $100,000 to $78,200 last week and then bounced back to $95,000 on Monday, and down $83,800 today. One crypto analyst believes that the BTC price will remain in a wide range between $70K and $90K for a while. Bitcoin Price to Remain Between $70K and $90K for a While BTC and other cryptocurrencies have numerous catalysts ahead. There are rumours that Donald Trump will use his crypto summit to pitch no capital gains tax for US coins . He has also hinted that the US will start a strategic crypto reserve . Additionally, the SEC has dropped numerous crypto lawsuits against top companies like Uniswap and Coinbase. In an X post , Alphractal estimated that Bitcoin price will remain inside the wide range of between $70,000 and $90,000 for a while. It based this case to the fact that this is where metrics like open interest, trade count and buying volume. Alphractal estimates that there will be frequent liquidations before a clear breakout emerges. Bitcoin Liquidity Profile The Bitcoin price prediction came as its volatility jumped. The average Bitcoin volatility has more than doubled in the last ten days. Santiment data shows that the four-week Bitcoin volatility has jumped to 0.052, the highest level since December 8 last year, after bottoming at 0.027 last month. Bitcoin Volatility This volatility has been driven by the trade war between the United States and its top trading partners that will impact trade worth over $2.2 trillion a year. The US is now levying a 25% tariff on goods from Canada and Mexico, risking slow growth and high inflation. Bitcoin Price Analysis: Death Cross Risk Emerges BTC has been highly volatile in the past few days, after crashing below the crucial support level at $89,000. This price was the neckline of the double-top pattern at $108,200. The coin has crashed below the 50-day and 200-day Weighted Moving Averages. With the spread between the two narrowing, there is a risk that the coin may form a death cross, where the two cross each other. Bitcoin price has dropped below the 38.2% Fibonacci Retracement level. Therefore, crash below last week’s low of $78,200, which is also the 50% retracement level, may trigger more downtrend to the 61.8% retracement level at $71,500. This price is within the $70,000 and $90,000 range set by Alphractal. On the flip side, a surge above the resistance at $95,000 will catalyze a surge, possibly to $100,000 and the all-time high. Bitcoin Price Chart Potential Catalysts for Bitcoin Bitcoin has numerous catalysts ahead. From a macro level, there are rising odds that the Federal Reserve will start cutting interest rates soon. A good evidence for this is that US bond yields have continued falling, with the 10-year and 30-year yields crashing to the lowest level since December 6. US bond yields Bitcoin may benefit from a Strategic Bitcoin Reserve as that will trigger more purchases by the US and other countries. Further, Bitcoin’s MVRV Ratio Z score has dropped to 2, meaning that the coin has become undervalued. Bitcoin MVRV Chart The MVRV-Z score ratio is a popular indicator that looks at the market value and the relative value and then conducts its z score. The post Here’s Why Bitcoin Price Will Be Stuck Between $70K and $90K for a While appeared first on CoinGape .

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