by Rubab Fatima
Bitcoin BTC price continues to rise which brought it back into the $90,000 area with its current value around $92,500. Bitcoin gained 6.12% through trades from investors along with DXY weakness during the previous 24 hours.
The cryptocurrency market usually experiences an upward trend when the DXY exhibits a downward movement. During cycles 2017 and 2021 BTC climbed powerfully when the dollar weakened and all crypto assets moved up together with it. When sales in the spot market keep decreasing BTC may grow towards the $100,000 mark.
When the $DXY falls, crypto pumps.
It's collapsing right now.
What comes next is obvious! pic.twitter.com/bmgSmX8X3m
— Mister Crypto (@misterrcrypto) March 5, 2025
BlackRock Halts Selling, Boosting Bitcoin Optimism
Bitcoin price trends are mainly linked to declining sales of BTC in spot market transactions. The total amount of BTC purchases during the last day declined from $163.54 million on March 5 to $87.12 million. The market trend will favor buying activity and boost prices when investors reduce their selling activities.
Investors now see BTC more favorably since the fund market premium stands at 0.2. Investors are acquiring more Bitcoin right now while waiting for a strong price increase.
There has also been renewed interest from institutional investors in BTC. The tide seems to be turning with Bitcoin exchange traded fund (ETF) outflows after weeks of cautious sentiment. Another such institution leader, BlackRock, that owns more than $50 billion worth of BTC ETF via IBIT, also quit selling activity.
Bitcoin Approaches Key Resistance Levels at $95K
When institutional sell offs slow down or stop completely, it can often mean a reevaluation of market conditions and that could possibly lead to it being reinvested anyways. That shift is already starting to resemble; BTC ETFs on record $22 million net inflow in the past 24 hours, indicating growing institutional confidence in BTC’s accelerating ascent.
With Bitcoin around $92,500, all eyes are turned towards key support and resistance. A major rally of BTC might be seen if accumulation continues, and the DXY will continue its downward trend. Retail buying momentum is building as institutional investors re-enter the market and the cryptocurrency looks well placed to continue to rise.
According to market analysts, surpassing the $95,000 resistance may pave the way for Bitcoin to finally break through $100,000. However, the future success of this momentum depends on macroeconomic factors and whether investors trust BTC’s long-term potential.
In the meantime, the cryptocurrency markets are keeping one close eye on optimism and also on the watch for any negative developments, as the price of Bitcoin approaches new all time highs.
#blockchain #crypto, #decentralized, #distributed, #ledger
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