Bitcoin (BTC) Price Crosses $64,000 Again, Key Levels to Watch
On Sunday, March 3, the world’s cryptocurrency Bitcoin (BTC) once again rose above $64,000 but was rejected above these levels again. At the time of writing, Bitcoin price is trading at $63,790, up 2.80%, and its market cap is $1.253 billion. According to CoinGlass data, total Bitcoin liquidation data increased to $440,000 in the last 24 hours.
Key Bitcoin (BTC) Price Levels to Watch
According to the views shared by famous crypto analyst Ali Martinez, the Bitcoin (BTC) market has witnessed significant movement in a certain price range. Martinez notes that more than 500,000 BTC are traded in the $61,100 to $61,800 range, creating a significant support area for the cryptocurrency.
It also suggests that if Bitcoin manages to maintain its position above this support threshold, it will likely continue its rise towards $65,900 with minimal resistance.
However, Martinez also underlines potential downside risks for BTC. If Bitcoin folds and falls below the established support level, a correction could occur that could drop the price to $56,970 or even as low as $51,500.
Kindness: Ali Graphics
BTC Price at $125,000
Bitcoin analyst Will Woo offered an optimistic forecast for the price of Bitcoin (BTC), predicting that it could surpass $125,000 before the end of 2025 on a conservative basis. Woo’s analysis is based on the assumption that clients of investment giants Blackrock and Fidelity will allocate a modest 3% of their portfolios to Bitcoin.
According to Woo’s calculations, if Blackrock, with a total asset of $9.1 trillion, allocated 84.9 percent of this amount to Bitcoin, and Fidelity, with $4.2 trillion in assets, allocated 3 percent, the resulting investment would increase the price of Bitcoin. will significantly affect its course.
Despite these allocations representing only a fraction of total global wealth estimated at around $500 trillion, Woo said: believes He said support from major asset managers such as Blackrock and Fidelity could drive significant inflows into Bitcoin, leading to significant price appreciation.
Massive Bitcoin ETF inflows have shaken Satoshi Street in the last two months. BlackRock Inc.’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) collectively captured 79% of total flows among the “Newborn Nine” funds. In contrast, four of the remaining seven funds chose to reduce their fees below those of the two leading funds.
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Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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