Bitcoin Is Climbing, But Doubts Remain

Bitcoin (BTC) is currently trading above $90,000, confirming an impressive rebound after falling below the $79,000 mark on February 28. However, this euphoria is still tinged with strong uncertainty. This week promises to be eventful with several key events, including the American summit on cryptocurrencies. Investors are oscillating between hope and panic, and the crypto market might well have more surprises in store.

A Bitcoin ascent under high tension

The Bitcoin price has breached the crucial resistance level of $91,500, a strategic level for traders.

If this zone holds, we are heading in the right direction with a new goal: the previous all-time high.

Michaël van de Poppe, founder of MN Trading.

As a reminder, BTC already reached $109,000 in January before diving again.

However, this ascent remains fragile. Despite a 5.7% increase in 24 hours, the Crypto Fear & Greed index remains in “extreme fear” at 25. A figure that clearly shows that investors are not at ease.

As summarized by Mandrik, an anonymous trader on X:

In 13 years of observing Bitcoin, one conclusion stands out: nobody knows what’s happening.

• Bitcoin rose to $94,727 on March 2 before falling back below $82,171;
• The resistance at $94,000 could be a tough barrier to breach;
• The market’s nervousness is explained by regulatory and economic uncertainties.

So, will BTC soar or be violently rejected by this resistance?

A crypto market suspended at the White House summit

On March 7, the American summit on cryptocurrencies could influence the trajectory of Bitcoin. Over 25 participants, including members of the presidential task force on digital assets, will be present. This could stir up the crypto market.

Trader Bitcoin Malaya highlights an interesting phenomenon:

Open interest is decreasing, which means fewer people are making big bets on BTC. This reduces the risk of forced liquidation, but also shows cautious anticipation ahead of announcements.

The geopolitical context adds additional pressure. After Trump’s tariff threats on Europe, Bitcoin fell below $80,000 for the first time since November. If new regulations emerge, the market could experience a brutal correction.

Should we expect a new plunge or an explosion to new heights?

Yes, this week promises to be decisive for Bitcoin. While some hope for a breakthrough above $94,000, others fear an imminent correction. Between extreme fear indices and expectations surrounding the crypto summit, traders must keep an eye on the major events in the coming days.