by Sana Bukhari
The Bitcoin market moved upward from its recent big drop last week which triggers thoughts of BTC reaching $200000 in price. Prolonged market consolidation typically leads to major increases in BTC prices.
During this observation Bitcoin stands at $83,927.24 with a 1.38% price increase within the last 24 hours. The market now shows strong buying pressure after the BTC value went from $82,017.90 to $84,725.32.
Market analyst Rekt Capital noted in June 2021 that current Bitcoin price movement followed this pattern exactly. After the market plummet Bitcoin remained within the range between short-term and long-term exponential moving averages. The market reaction shows BTC heading for another major recovery because this behavior happened during the past price rally.
Back in June 2021, price was consolidating between the 21-week EMA (green) and 50-week EMA (blue) after a crash
Right now, Bitcoin is consolidating between the same EMAs after a crash
(By the way, $BTC indeed broke out from its triangle by late July 2021 to reach new All… pic.twitter.com/Ok4Grzvit8
— Rekt Capital (@rektcapital) March 17, 2025
Bitcoin’s Price Surge Signals Potential $200K Breakout Ahead
Bitcoin value increased by $9,000 between June and reached a $37,500 average price during this period in 2021. After this level the price of the cryptocurrency went up by 123.95% until reaching its current market value. When Bitcoin maintains its current movement it will probably hit $187,280 by following predicted increases to $200,000.
The latest data from analytics company Glassnode shows investors keep buying Bitcoin during this market downturn. Market analytics reveals investors strongly buy Bitcoin which pushes its accumulation score to 0.1.
The data from IntoTheBlock shows that large Bitcoin transactions jumped by 5.34% with a combined value of $34.7 billion. Major market players show stronger faith in the market which might push the price upward. The total amount of Bitcoin trades on cryptocurrency exchanges experienced a 24% boost which strengthens the belief in rising prices.
Bitcoin’s Impact On Market Amid Political and ETF Shifts
When Bitcoin changes value it affects other cryptocurrencies throughout the market. Experts are tracking political events especially the progress made by former U.S. President Donald Trump and Russian President Vladimir Putin toward resolving the Ukraine conflict. Buyers trust this development to trigger market improvements across all sectors.
During the last week the spot Bitcoin ETF saw funds leaving while Bitcoin continues to stand out as a top pick for institutional investors returning to the market. According to Rekt Capital, Bitcoin might reach $200,000 but Cathie Wood from Ark Invest believes Bitcoin will experience a deflationary rally from institutional and governmental adoption.
Every participant of the cryptocurrency industry watches Bitcoin for hints about its future price actions. Based on past monetary growth trends and trading patterns BTC may begin a historic price increase in its future months.
#blockchain #crypto, #decentralized, #distributed, #ledger
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