Bitcoin (⟨c-28/⟩) shows signs of recovery after experiencing selling pressure since the end of January 2025.
This largest cryptocurrency has managed to return above USD 80,000, with the potential for further rallies towards USD 95,000 (equivalent to IDR 1.5 billion) before the end of March.
According to Cointelegraph, BTC prices briefly fell below USD 80,000 on March 11, but rose again after the US Core Consumer Price Index (CPI) report came in lower than expectations at 3.1% on March 12. This data gives Bitcoin room to continue its bullish movement.
Currently, Bitcoin is consolidating around USD 84,000–85,000, where many traders are taking short positions to bet on further price declines.
Over USD 300 million in short positions have accumulated in this zone, based on liquidation data. If BTC prices can break through USD 85,000, this wave of liquidation could trigger further increases.
In addition, there is a gap in the CME futures contracts at the level of USD 85,000–86,000 that has not yet been filled. History shows that CME gaps often get filled within the last four months, increasing the chances of BTC turning this level into new support.
If Bitcoin can strongly break through USD 85,000, the next target is USD 90,000, where the liquidation of more than USD 1.6 billion in short positions could occur, opening up opportunities for a rally to USD 95,000.
Analyst Mark Cullen sees short-term bullish potential, but he warns that BTC's price movement pattern is still 'corrective', meaning there may be sideways movement before a price spike occurs.
Conversely, analyst and trader Valeria assesses that Bitcoin is showing signs of distribution around USD 85,000, which could be a bearish signal in the short term. According to her, BTC may drop below USD 80,000 first before a bullish breakout occurs.
The difference in trading behavior between Binance and Coinbase could also slow down Bitcoin's upward momentum.
Traders on Binance have been selling more BTC in recent days, especially when prices dropped to USD 76,650.
Conversely, traders on Coinbase have been placing buy orders around USD 80,000, which has helped the recovery of BTC prices.
On March 12, a similar pattern occurred. Binance experienced significant sell-offs around USD 85,000, while Coinbase maintained BTC prices at USD 81,000 during US trading sessions.
If the imbalance between the order books of Binance and Coinbase continues, this could hinder Bitcoin's momentum to break through key resistance levels.
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