The context: finally, Bitcoin could finish the month of March in the green and limit the breakage in this first quarter of the year 2025. The bullish momentum will be hoped again for the beginning of April and the second quarter. While the Crypto market has resumed, demand for Bitcoin could potentially strengthen in April. As a result, its course could gradually straighten in order to potentially retest the range from 90,000 to $ 95,000. The bottom already found for Bitcoin? Bitcoin (BTC) began the month of March with a strong bullish momentum, reaching a summit of $ 96,484 on March 2. However, the feeling of the market has later become a lowering. With the start of an intense profits, the main cryptocurrency dropped off a hollow of four months of $ 76,642 on March 11. Since then, Bitcoin has been able to start a resumption greatly fueled by a partial renewal of the demand. From now on, the part is negotiated in an ascending parallel channel, a model which indicates that the course should increase gradually. BTC ascending parallel channel. Source: TradingView in an exclusive interview with Beincrypto, Julio Moreno, research manager at Cryptoquant, also confirmed this upward perspective. “There could be a rebound for the Bitcoin course in April, because the sales pressure of the traders is diminishing,” said Moreno. But still, the specialist assessed the profit/loss margin made of the BTC and found that she has regularly decreased since the beginning of the year. When this indicator drops, the overall profitability of the parts spent in chain decreases. Profit margin/loss made BTC. Source: cryptocurrency means that investors make less profits and even undergo losses, thus reducing their incentive for sale. Over time, this trend would gradually reduce the sales pressure on the BTC market while soon putting its course. “As the Bitcoin price has dropped 23 % since its previous historic summit, traders will now only be loss if they sell. This situation generally indicates less selling pressure against bitcoin. Indeed, the unrealized profit margin of traders is today -13 %, a level generally associated with local bottoms of the course. As a result, this could easily bring the price price to the $ 90K area, “added Moreno. A token not completely taken from the business, while the market tries to straighten, the lowering feeling remains significant among the traders. “The overall feeling of the market remains lower, as shown in the crypto -friendly Bull scoring index. The index reached 20 a few days ago, its lowest score since January 2023. This therefore indicates negative market conditions. Consequently, concerns are always present, with a lower short -term trend, “said Moreno. He also added that Historically, Bitcoin only experienced sustained course rallies when the Bull Score was greater than 60. Conversely, data systematically less than 40 have been associated with lower markets. Bull score BTC index. Source: cryptocurrency but also the data from the Fear and Greed index also reflect this perspective. At the time of writing, the index is 40, suggesting that the market is currently in fear. Crypto fear and greed index. Source: alternative.me When traders are also fearful, it makes the increase much more difficult, due to a much lower volume of transactions and a lack of volatility. Will Bitcoin stay above 87,000 or fall to 77,000? The BTC is still negotiated above $ 87,000, after a positive development of 2 % during the week. On the daily BTC/USD graphic, the relative force index (RSI) of the part is slightly above the neutral line at 51.48, indicating the progressive resurgence of a new request. The RSI measures the market conditions of an asset in order to assess whether it is over-rascal or in occurrence. The value varies between 0 and 100 with values above 70 which suggest that the asset is over -going. In general, a drop in courses is expected when you get over. Conversely, values less than 30 indicate that the assets are argued and could soon experience a rebound. With a score of 51.48 and a slight upward trend, the RSI of Bitcoin suggests a growing upper momentum on the market. If the request is strengthened, this could propel the course of the part at $ 89,434. A successful breakthrough of this resistance could trigger a rally towards $ 93,478. Analysis of the BTC course. Source: TradingView, however, if sales resume, the Bitcoin price could drop to $ 77,114. Morality of history: with a new month it’s time or never to make a clean sweep for the BTC. Notice of non-responsibility Non-responsibility notice: In accordance with the guidelines of The Trust Project, this article of price analysis is only intended for information purposes and should not be considered as financial or investment advice. Beincrypto undertakes to provide exact and impartial information, but market conditions may change without notice. Always carry out your own research and consult a professional before making any financial decision.
