Analysts are closely monitoring Bitcoin’s weekly close to assess price trends for the coming week, as both traditional and crypto markets face uncertainty due to concerns over a global trade war and easing inflation fears.
According to Ryan Lee, head of research at Bitget Research, Bitcoin’s price may continue to decline next week if it fails to close above the psychological $85,000 level. He emphasized that closing above this threshold is “crucial to maintaining bullish momentum,” especially amid ongoing trade war concerns.
Data from Cointelegraph Markets Pro shows that Bitcoin has struggled for momentum, gaining only 0.9% over the past week. If it fails to close above expectations, there is a risk of revisiting last week’s low of $76,600.
While Bitcoin may experience short-term price corrections, the post-Federal Open Market Committee (FOMC) meeting rally remains a positive sign for investors. Enmanuel Cardozo, a market analyst at real asset tokenization platform Brickken, advises investors to focus on long-term Bitcoin holders’ accumulation trends rather than short-term volatility to gauge BTC’s future trajectory.
Data from Glassnode indicates that long-term holders have continued accumulating Bitcoin, with their total holdings increasing by more than 250,000 BTC in less than two months, from 13.1 million BTC on February 11 to over 13.3 million BTC on March 22.
Despite positive regulatory developments in the crypto sector, concerns over global tariffs will continue to pressure the market at least until April 2, according to Nicolai Sondergaard, a research analyst at Nansen.
(Source: Cointelegraph)
In summary, a weekly close above $85,000 is considered critical for sustaining Bitcoin’s upward momentum and avoiding a drop to $76,000. Investors should keep an eye on long-term holder behavior and macroeconomic factors to make informed decisions.
