Bitcoin Rises Above $85,000 And Avoids A Major Drop

For two weeks, Bitcoin seemed to be pedaling in semolina, unable to climb above $90,000. Then, against all odds, the flagship crypto surged, finally crossing the dreaded $85,000 mark. A sigh of relief sweeps across the markets, but it’s not time for euphoria: could this breakthrough signal the start of a new rally? Or merely defer an inevitable drop towards $76,000?

$85,000 reached at the last minute: Bitcoin avoids a brutal crash

Ah, $85,000… a simple number, but oh so symbolic! For roller coaster enthusiasts, it’s the next turn (before $65,000?). For analysts like Ryan Lee from Bitget Research, it’s the lifeline:

A weekly close above this level could avoid a descent towards $76,000 and signal a bullish recovery.

A tad dramatic? Not quite, when we know that BTC is stagnating at +0.9% for the week.

The scene is set: declining inflation, stable rates, looming trade war… Yet, Bitcoin hesitates. A psychological war is raging between hodlers and weekend sellers.

According to SantinoCripto, “the bottom of this correction is around $75,000”. A cautious estimate, compared to some much darker voices.

Alex Wacy, for instance, doesn’t mince his words:

A return to $40,000 is possible.

But beware of the magnifying effect. As Crypto Rand reminds us:

• The Bitcoin price has already seen three mega-corrections of -87%, -85%, and -72%.
• Between 2014 and 2021, the trend remained bullish.
• Each drop fuels a cycle… and reignites hope.
• Panicking is a classic reaction, but often unjustified.
• “Stick to the plan,” as he says: patience and perspective.

So, should we tremble? Or simply breathe, hold on, and wait for the next twist?

With the close above $85,000 ($85,255 at the time of writing this article), Bitcoin seems to have outsmarted the worst scenarios. If the momentum continues towards $87,000, technical signals could align to trigger a new bullish rally this week.

The crypto market: a theater of shadows and convictions

Beyond the price, crypto market signals do not lie: long-term hodlers are getting active. Since February, these diehards have been quietly accumulating their BTC, far from panicked gazes. In just two months, over 250,000 BTC have been absorbed, increasing the supply held by these investors from 13.1 to 13.3 million BTC.

It’s a sign, proclaim the on-chain oracles. A submarine movement, a silent rise. “These accumulations are what we should watch, not the short-term fluctuations,” notes Enmanuel Cardozo from Brickken.

But should we view this as a mere crypto-ant reflex, or a harbinger of an explosion? The market is also driven by hopes for regulatory renewal. Will that be enough to reverse the trend?

Especially since shadows persist: global tariff tensions loom until early April. Until then, the slightest tweet can upset the balance. Yet, in this theater of uncertainties, some see a broader choreography.

Sandman Research summarizes this well:

Bitcoin follows the curve of global liquidity like a faithful shadow. And it has just reached a peak.

So, is it just a coincidence or a prelude to the next act of the bull run?

Another factor not to be overlooked: the money supply. It also made a discreet reminder in propelling Bitcoin. Admittedly, the correlation isn’t perfect, but history proves it: the two are inseparable.