Bitcoin Price Movement and Market Overview – 26/03/2025
Bitcoin price is quoted at $88,054.00 with a rise of 0.78% today on 26/03/2025 and started an increase above the resistance of $88,000.00 after a correction that took the price to US$86,300.
Similarly, most of the major altcoins are attempting to move higher slowly. ETH is up 5% and is approaching the $2,120.00 resistance zone. XRP is attempting a move above the resistance at around $2.47. Solana is trading near $144.81. ADA is consolidating above the $0.76 pivot level. Dogecoin is trading at $0.2042 with a 24-hour surge of 9.67%.
Bitcoin Price Could Test $109K
According to industry analysts, there are expectations that Bitcoin could soon see significant moves, possibly reaching new all-time highs. This outlook is based on technical analysis that has identified patterns similar to those seen in previous rallies, which resulted in rapid and robust increases in the cryptocurrency’s price.
Javon Marks, a renowned cryptocurrency analyst, shared his observations, highlighting the similarity between Bitcoin’s current behavior and previous moments of accelerated growth. He mentioned, “The latest breakout after a similar action led to one of the most powerful and rapid bullish moves of this cycle.”
Furthermore, Ali Charts pointed out that the $89.000 barrier is crucial, as at this point, important technical indicators such as the 50-day moving average and a descending trendline from the last all-time high are converging, forming a strong resistance cluster. If Bitcoin breaks above this level, it could indicate a new bullish momentum in the market.
# Bitcoin
$ BTC
faces a key resistance cluster at $89,000, where the 50-day moving average and the descending trendline from the all-time high converges.
— Ali (@ali_charts)
March 24, 2025
On the other hand, the trader known as Captain Faibik noted that despite Bitcoin following a descending wedge pattern, there is a positive expectation that the cryptocurrency will reach $80.000 before a breakout is definitively confirmed. According to Faibik, “Once the breakout is confirmed, I expect Bitcoin to rally to $109 in the next few weeks.”
In a related development, financial giant BlackRock has announced the expansion of its Bitcoin offerings with the launch of a new investment product in Europe, the iShares Bitcoin ETP. According to Manuela Sperandeo, iShares’ head of products for Europe and the Middle East, this initiative reflects the growing institutional interest in Bitcoin, a trend supported by the company’s recent accumulation of over 4.054 Bitcoins, bringing its balance to an impressive 573.878 BTC.
Activity from so-called Bitcoin whales has also shown signs of increasing, indicating renewed interest from large investors. Recent reports from Arkham Intelligence reveal that a major whale acquired $200 million worth of Bitcoin in the past month, while a wallet that had been dormant for eight years has reactivated, moving over 3.000 Bitcoin.