$BTC Building a Bottom: Is It the Right Time to Buy?
Is Bitcoin Ready to Break Out to $90,000?
According to analyst Markus Thielen from 10x Research, Bitcoin seems to have hit the bottom and is preparing for a new price surge. Two main factors are supporting this trend:
+ Trump Eases Stance on Tariffs: U.S. President Donald Trump has recently shown a "flexible" approach to the tariff policy set to take effect on April 2, easing previous concerns. This creates a positive sentiment in the financial market, including cryptocurrency.
+ Federal Reserve Stays Firm: In the meeting on March 18-19, the Fed indicated that they would not be pressured by short-term inflation, paving the way for potential policy easing in the future. Fed Chairman Jerome Powell even adopted a "moderate" tone, reinforcing confidence that the stock and cryptocurrency markets will soon recover.
Currently, Bitcoin is trading at $86,720 (up 3.25% in the last 24 hours, according to CoinGecko). The 21-day moving average of BTC reached $85,200, and weekly reversal signals are turning positive. Thielen notes that this is the level where past price surges have restarted, such as in September 2023 (thanks to the Bitcoin ETF story) or August 2024 (ahead of the U.S. elections).
Altcoins Are Also Heating Up
Not just Bitcoin, many altcoins are also breaking away from the downtrend:
+ Ether (ETH): $2,050, up 4.3% in the past week.
+ Tron ($TRX ): $0.2282, up 6.4%.
+ Avalanche ($AVAX ): $21.56, up 8.9%.
This is a great opportunity for investors to diversify their portfolios and optimize profits.