Bitcoin (BTC) is currently exchanging above $ 90,000, confirming an impressive rebound after falling below $ 79,000 on February 28. However, this euphoria remains tinged with strong uncertainty. This week promises to be hectic with several key events, including the American summit on cryptos. Investors oscillate between hope and panic, and the Crypto market may well reserve new surprises.
An ascent of high voltage bitcoin
Bitcoin course crossed the crucial resistance of $ 91,500a strategic level for traders.
If this area holds, we go back in the right direction with a new goal: the old historic record.
Michaël Van de Poppe, founder of MN Trading.
As a reminder, BTC has already reached $ 109,000 in January Before diving back.
However, This ascent remains fragile. Despitean increase of 5.7 % in 24 hoursthe Crypto Fear & Greed index remains in “Extreme fear” at 25. A figure that shows that investors are not serene.
As summarizes Mandrikanonymous trader on x:
In 13 years of Bitcoin observation, only one conclusion is essential: no one knows what's going on.
- Bitcoin rose to $ 94,727 on March 2 before relating to $ 82,171;
- The resistance of $ 94,000 could be a difficult wall to cross;
- The nervousness of the market is explained by regulatory and economic uncertainties.
So, will the BTC fly away or be violently rejected by this resistance?
A crypto market suspended at the top of the White House
On March 7, the American Summit on Cryptos could influence the trajectory of Bitcoin. More than 25 participants, including members of the presidential working group on digital assets, will be present. What cause turmoil on the Crypto market.
The Bitcoin trader Malaya highlights an interesting phenomenon:
Open Interest decreases, which means that fewer people take big bets on the BTC. This reduces the risk of forced liquidation, but also shows a cautious expectation before the announcements.
THE geopolitical context Add additional pressure. After threats from Trump customs tariffs to Europe, Bitcoin has dropped under $ 80,000 for the first time since November. If new regulations are emerging, the market may experience a brutal correction.
Should we expect a new dive or an explosion to new heights?
Yes, this week promises to be decisive for Bitcoin. If some hope a breakthrough above $ 94,000, others fear an imminent correction. Between clues of extreme fear and expectations around the crypto summit, traders will have to keep an eye on the major events of the next few days.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
