$BTC As of March 16, 2025, Bitcoin (BTC) is trading around $84,390, reflecting a recent downturn from its earlier highs.​

Recent Performance:

After reaching an all-time high of $109,071 in January 2025, Bitcoin has experienced a significant decline, dropping nearly 25% to its current levels. This downturn has been particularly challenging for new investors who entered the market during the recent crypto frenzy. ​

Reuters

Technical Indicators:

Support Levels: Key support is identified at $85,000 and $90,000. ​

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Resistance Levels: Immediate resistance is noted at $105,000, with a secondary level at $120,000. ​

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Moving Averages: The 50-day Simple Moving Average (SMA) has crossed above the 200-day SMA, typically a bullish signal. ​

FX Empire

Market Sentiment:

The market is currently in a critical phase, with analysts warning of a potential drop to $73,000 if bearish trends persist. This sentiment is influenced by broader economic factors, including geopolitical tensions and tariff escalations between the U.S. and China. ​

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Conclusion:

Bitcoin is navigating a challenging period, with significant support and resistance levels shaping its price action. Traders should exercise caution, closely monitoring technical indicators and broader market developments to inform their strategies.​