Odaily Planet Daily reports that the crypto community is divided on Bitcoin’s short-term trend. Some analysts warn that the price could reach new lows, while others have targeted $84,000, including:
-
Keith Alan, co-founder of Material Indicators, states that the BTC bottom has not yet appeared. The current priority is capital preservation. Keith Alan points out that the $69,000 high in 2021 is crucial in the current relief rally, although $60,000 was support yesterday, it is highly likely to fall to lower levels before the bull market returns.
-
Rekt Capital believes that historical trends suggest BTC still has room to decline. After reaching a bull market peak in the fourth quarter following the halving, BTC often experiences several months of relief rallies, then breaks below the macro triangle bottom and enters an accelerated decline phase. Currently, this is the fourth consecutive cycle that fits this historical pattern.
-
Analyst Michaël van de Poppe offers a different view, predicting that the market price will rebound to the CME gap, with the potential to continue rising next week to over $75,000.
-
JAN3 CEO Samson Mow states that BTC will soon fill the CME futures gap at $84,000, and the ability of large corporations to buy BTC as a reserve asset is also noteworthy. (Cointelegraph)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Why Does Ethereum Price "Rise with Bitcoin but Ignore Fundamentals"? Bitwise Reveals: 65% of Price Movement Determined by Bitcoin
Bitwise's research indicates that Ethereum's price movements are primarily driven by Bitcoin and macroeconomic liquidity, with relatively weak influence from on-chain fundamentals. The model shows that Bitcoin volatility can explain 65% of Ethereum's volatility, while accommodative monetary conditions and ETF fund flows also contribute to Ethereum's price. The current market views Ethereum as a "network commodity," and its price movements in the short term may still be dominated by Bitcoin and the liquidity environment.
GateNews5m ago
Citi significantly lowers Bitcoin and Ethereum target prices, with policy delays constraining upside potential
Citigroup has lowered its 12-month target prices for Bitcoin and Ethereum to $112,000 and $3,175 respectively, mainly due to the slower-than-expected progress of U.S. policy initiatives. Although the target prices have been reduced, both assets still have room for upward movement. The market's diminished expectations for demand growth make the sustainability of capital inflows a critical factor. If regulatory conditions improve, the target prices may be raised; otherwise, the downward adjustment will be justified.
GateNews19m ago
Mainstream CEX and DEX funding rates show the market remains bearish
On March 18, Gate News reported that as Bitcoin dipped slightly, the funding rates across major CEX and DEX platforms show the market is broadly bearish, indicating that market sentiment remains skewed to the downside.
GateNews19m ago
U.S. stocks strengthen but crypto concept stocks diverge, with Bitcoin's high-level fluctuations suppressing the performance of COIN and MSTR
The US stock market rose slightly driven by macroeconomic data and corporate earnings, with investors showing increased risk appetite for equities. Cryptocurrency-related stocks showed mixed performance, with COIN and MSTR trading characteristics closely tied to Bitcoin price fluctuations. Despite overall strength in US equities and rapid capital inflows, crypto stocks will continue to exhibit high volatility if Bitcoin fails to establish a trending rally.
GateNews24m ago
