$BTC

As of March 11, 2025, Bitcoin (BTC) is trading at approximately $79,500, reflecting a 4.2% decline from the previous day.

Recent market movements have been influenced by President Trump's announcement of a federal Bitcoin strategic reserve. The plan involves utilizing Bitcoin assets seized through legal actions, with no new government purchases planned, leading to market disappointment and contributing to the recent price decline.

Additionally, companies heavily invested in Bitcoin, such as Strategy Inc. (formerly MicroStrategy), have experienced significant stock declines. Strategy's shares fell by 13% following the announcement, reflecting the broader market's reaction to the strategic reserve plan.

Technical analysis indicates that Bitcoin is currently trading below its 50-day moving average, suggesting potential bearish momentum. Key support levels to monitor are at $75,000, with resistance around $85,000.

In summary, Bitcoin's recent price movements are influenced by governmental policy announcements and market sentiment. Investors should closely monitor these developments and technical indicators when making trading decisions.