#MarketPullback #BinanceAlphaAlert #BTC #btc走勢
Bitcoin’s Next Move: Price Analysis and Market Outlook for March 5th
$BTC (BTC) is currently in an uncertain phase. Recent price action has sparked debates on whether the market will continue its bullish trajectory or enter a distribution phase leading to a bearish cycle.
In the past 24 hours, the altcoin has dropped 9.94% and trades at $83,137.49 at the time of writing, CoinMarketCap data shows.
Bitcoin Price Drop Sparks Market Uncertainty
With BTC dropping to $83,000 from its January peak of $102,000, many traders and analysts are closely monitoring key technical indicators along with support and resistance levels.
Interestingly, analyst PlanB, the creator of the Stock-to-Flow (S2F) model, predicts BTC will hit an average price of $500,000 during the 2024-2028 halving cycle. He also suggests a possible range of $250,000 to $1 million.