Recent price charts indicate that Bitcoin has formed a 'double top' pattern, typically signaling a potential price decline. This pattern is confirmed by a decisive breakdown below the neckline. Key support levels to monitor are $80,400 and $74,000, while resistance levels are at $98,500 and $106,000.

Current Market Scenario:

Several factors have contributed to Bitcoin's recent decline:

Meme Coin Scandal: A scandal involving Argentina's president and a meme coin has negatively impacted market sentiment.

Bybit Exchange Hack: A $1.4 billion hack of the crypto exchange Bybit has raised security concerns within the crypto community.

Trade Policy Concerns: Uncertainties surrounding trade policies under the Trump administration have added to market volatility.

Future Prospects:

Analysts have varying predictions for Bitcoin's price by the end of March 2025:

Finbold: A trading expert suggests that Bitcoin could reach a new all-time high of $170,000 by the end of March 2025, based on historical price cycles.

CoinCodex: Forecasts a 21.61% increase in Bitcoin's price in March 2025 compared to current rates.

Changelly: Predicts Bitcoin's price for March 2025 to range between $110,000 and $125,000.

Conclusion:

Bitcoin is currently undergoing a significant price correction, with technical analysis indicating potential support and resistance levels. The future price trajectory will depend on various factors, including market sentiment, security developments, and broader economic policies. Investors are advised to monitor these factors closely and exercise caution, given the inherent volatility of the cryptocurrency market.