{"id":834107,"date":"2025-03-15T08:11:51","date_gmt":"2025-03-15T13:11:51","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/15\/bitcoin-holds-around-key-85k-level-will-btc-price-meet-buyers-demand\/"},"modified":"2025-03-15T08:11:51","modified_gmt":"2025-03-15T13:11:51","slug":"bitcoin-holds-around-key-85k-level-will-btc-price-meet-buyers-demand","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/15\/bitcoin-holds-around-key-85k-level-will-btc-price-meet-buyers-demand\/","title":{"rendered":"Bitcoin Holds Around Key $85K Level: Will BTC Price Meet Buyers\u2019 Demand?"},"content":{"rendered":"
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\"Bitcoin<\/figure>\n<\/div>\n
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The cryptocurrency market is starting to recover due to an overall increase in buying from traders. This boost follows a positive consumer price report and ease in global tensions. As a result, Bitcoin\u2019s price is on its way to hitting $90K after getting past some key hurdles. However, with a bit of selling pressure now, investors are wondering if Bitcoin might start to drop again soon.<\/p>\n

Bitcoin Recovers Following Positive News<\/h2>\n

Today, Bitcoin approached the $85K mark, fueled by bullish developments such as a positive Consumer Price Index (CPI) report and a reduction in geopolitical tensions. A key factor was Ukraine\u2019s agreement to a temporary 30-day ceasefire with U.S. involvement, a move reported by Bloomberg that has cooled down the global market tensions. This decrease in geopolitical uncertainty has enhanced investor confidence and brought stability to the crypto market.<\/p>\n

In addition, Ontario\u2019s decision to eliminate a 25% tariff on electricity exports to Michigan, New York, and Minnesota has softened trade tensions and boosted overall market sentiment.<\/p>\n

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Data from Coinglass shows that Bitcoin saw significant market activity with around $75.4 million in positions liquidated over the last 24 hours. This included $15.4 million by buyers and $60 million by sellers, indicating an increase in short liquidations amid Bitcoin\u2019s price rise.<\/p>\n

The bullish momentum has also influenced Bitcoin\u2019s market trends, with open interest in Bitcoin increasing by nearly 6%, reaching a high of $49.8 billion. IntoTheBlock data suggests a continued bullish trend as the exchange reserve declines.<\/p>\n

Also read: Trump Crypto Executive Order Sparks New Bill for U.S. Bitcoin Reserve<\/a><\/p>\n

The Netflow metric has consistently been in the negative, with a notable outflow of 3.1K BTC in the last 48 hours. This trend indicates that holders are moving their Bitcoin from exchanges to self-custody wallets, reducing the potential for selling pressure and pointing to continued upward movement in Bitcoin\u2019s price.<\/p>\n

What\u2019s Next for BTC Price?<\/h2>\n

Bitcoin is currently riding a wave of strong bullish activity, targeting a stable position above the $85K mark. It briefly touched a peak of $85,309 before encountering resistance and slipping below $85K. Currently, bears are strongly defending a surge above 23.6% Fib channel. As of now, Bitcoin\u2019s price trades at $84,593, marking a 5.3% increase over the last 24 hours.<\/p>\n

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Looking ahead, the BTC\/USDT trading pair is challenging a resistance area within $84,205 to $86,704. Increased buying efforts are anticipated to ward off any significant pullbacks. Should Bitcoin successfully breach the $90K threshold, it could potentially aim for a climb towards $95,000.<\/p>\n

Conversely, a failure to meet buyer interest near the $85K level might lead to a pullback, possibly dropping to a low of $79,974.<\/p>\n

However, the long\/short ratio of Bitcoin has taken a sharp downturn, currently standing at 0.67. This indicates an increasing dominance by sellers, who are likely pushing for an immediate correction in the BTC price chart. At present, about 60% of traders anticipate a decline in the price.<\/p>\n<\/div>\n

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\n Shayan Chowdhury<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency market is starting to recover due to an overall increase in buying from traders. This boost follows a positive consumer price report and ease in global tensions. As a result, Bitcoin\u2019s price is on its way to hitting $90K after getting past some key hurdles. However, with a bit of selling pressure now<\/p>\n","protected":false},"author":1,"featured_media":834108,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,3416],"tags":[],"class_list":{"0":"post-834107","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-holds"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/834107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=834107"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/834107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/834108"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=834107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=834107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=834107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}