As of March 9, 2025, Bitcoin (BTC) is trading at $83,570, down $2,868 (-3.18%) from the previous close.

In December 2024, the price of Bitcoin surpassed the $100,000 mark, driven by factors such as the launch of Bitcoin exchange-traded funds (ETFs), reduced supply resulting from the halving event, and optimism about supportive cryptocurrency policies following the reelection of Donald Trump.

Analysts' forecasts for the price of Bitcoin in 2025 vary. Bitwise predicts that the price will exceed $200,000, with a possibility of reaching $500,000 if the government adopts the strategic Bitcoin reserve plan proposed by Senator Cynthia Lummis. On the other hand, VanEck expects the price to reach $180,000, anticipating significant price volatility. Deepwater Asset Management also predicts the price will reach $150,000 in 2025.

Technically, the key support and resistance levels for Bitcoin are as follows:

• Resistance levels:

• $90,501: A strong resistance level and previous bounce.

• $95,603: Major resistance with high liquidity density.

• $100,185: A strong psychological level that may attract sellers.

• Support levels:

• $88,719: Minor support close to the current price.

• $87,976: Strong support; if broken, we may see further decline.

• $86,000 - $84,000: A strong buying area according to liquidity.