Daily Crypto Signals: Bitcoin Rallies at $85K, Ethereum Eyes 65% Gain
Bitcoin shows resilience at key technical level while Ethereum positions for potential 65% surge amid increased whale accumulation and
Live BTC/USD Chart
Bitcoin shows resilience at key technical level while Ethereum positions for potential 65% surge amid increased whale accumulation and BlackRock’s growing $1B ETH stake.
Crypto Market Developments
As Bitcoin keeps support above the vital $85,000 level approaching the weekly closing, the market for cryptocurrencies seems to be displaying indications of healing. Analysts are eagerly watching this price mark; Bitget Research head analyst Ryan Lee advises that a weekly close over $85,000 might stop a decline to $76,000, while a close above $87,000 would offer “clearer bullish confirmation.”
Technical indicators are exhibiting encouraging signals despite pressure from worldwide trade war issues that have impacted both traditional and cryptocurrency markets. With analyst Matthew Hyland pointing out that BTC is positioned to make a weekly positive divergence for the first time since September, Bitcoin’s Relative Strength Index (RSI) is showing early indicators of breaking a downtrend stretching back to November 2024.
Bitcoin Finds Support at $85K
With macroeconomic headwinds, Bitcoin BTC/USD is trading about $85,830 and shows resiliency. BTC has effectively maintained support above the 200-day simple moving average at $84,899, a crucial technical level while it has struggled to acquire notable momentum and only risen 0.9% over the past week.
Based on its most recent capital round, MicroStrategy seems prepared for another Bitcoin buy. After the company collected around $711 million with its most recent preferred stock offering, co-founder Michael Saylor hinted at an upcoming purchase. MicroStrategy bought 130 BTC worth at $10.7 million on March 17, therefore increasing its total holdings to 499,226 BTC — with unrealized gains above $9.3 billion.
“While many are panicking and declaring a bear market, the long-term trend channel remains firmly intact,” says trading team Stockmoney Lizards regarding the prospects for Bitcoin. This adjustment supports rather than negating the upswing.” They advise the reversal might linger “a couple of weeks” before picking back up its increasing trend.
Ethereum Gearing Up for a Bullish Reversal?
Though it lost half its value over the past three months, Ethereum ETH/USD is displaying indications of a possible bullish reversal from $4,101 in December 2024 to roughly $1,989 now. Technical analysis indicates ETH is retesting a long-term support zone that in preceding cycles set off rallies of over 2,000% and 360%.
With a 65% increase from present prices, a comeback from this support may drive Ethereum toward $3,400 by June. Analysts advise ETH must recover the “macro range” above $2,200 if it is to have a durable comeback.
With BlackRock’s BUIDL fund currently holding over $1.145 billion worth of ETH, up from roughly $990 million just a week ago, institutional confidence in Ethereum is rising. The fund mostly concentrates on tokenized real-world assets; Ethereum remains the major foundation layer even with diversification across chains including Avalanche, Polygon, Aptos, Arbitrum, and Optimism.
With addresses ranging from 1,000 to 10,000 ETH rising their holdings by 5.65% since March 12, on-chain data from Nansen reveals notable whale accumulation; the 10,000–100,000 ETH cohort has grown by 28.73%. “The ETH whales in the 10k to 100k have actually been accumulating ETH, whereas everyone else has been dumping,” Nansen analyst Nicolai Sondergaard says.
Top Altcoins to Watch Today
Several altcoins are showing promising technical setups as Bitcoin attempts to stabilize:
- Toncoin (TON) – Currently trading at $3.63, TON is holding above key moving averages with a potential bullish crossover. A break above the $4 resistance could trigger a surge toward $5.
- Avalanche (AVAX) – Trading at $20.21, AVAX is displaying positive RSI divergence, suggesting weakening bearish momentum. The token has been clinging to its 20-day EMA ($19.76), increasing the likelihood of a breakout toward the 50-day SMA at $22.41.
- Near Protocol (NEAR) – Currently at $2.78, NEAR is showing early signs of a potential trend reversal with positive RSI divergence. A break above the 50-day SMA ($3.05) could open the path to $3.65 and potentially $5 if bullish momentum continues.
- OKB (OKB) – Trading at $49.90 within a descending channel pattern, OKB gained momentum after breaking above its 20-day EMA on March 14. The token faces resistance near $54, but a shallow pullback would suggest bulls remain confident, increasing the possibility of a rally to the channel’s resistance line.
As global markets navigate trade war concerns, cryptocurrency analysts expect pressure to continue until at least early April, when countries may find resolution to retaliatory tariffs. Despite short-term uncertainty, investment firm VanEck maintains its optimistic outlook, predicting a $6,000 cycle top for Ethereum and a $180,000 Bitcoin price during 2025.
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