Coinspeaker
Bitcoin News Today: BTC Price Skyrockets 8% from $80K Low, Bulls Target Six-Figure Breakthrough
Bitcoin saw a major rebound on Monday, recording around 8% surge in value in the past 24 hours. This recovery comes after BTC price briefly dipped below $80,000 on Friday.
The broader crypto market has also responded positively, posting a 7% increase in total market capitalization. This sharp movement follows a weekend’s announcement by US President Donald Trump, where he revealed the inclusion of five major digital assets in a proposed US strategic crypto reserve. Among them are Bitcoin
BTC
$79 827
24h volatility:
3.3%
Market cap:
$1.58 T
Vol. 24h:
$59.86 B
, Ethereum
ETH
$1 867
24h volatility:
9.8%
Market cap:
$225.06 B
Vol. 24h:
$40.87 B
, XRP
XRP
$2.07
24h volatility:
5.7%
Market cap:
$119.88 B
Vol. 24h:
$7.55 B
, Solana
SOL
$120.7
24h volatility:
5.7%
Market cap:
$61.46 B
Vol. 24h:
$7.03 B
, and Cardano
ADA
$0.71
24h volatility:
5.0%
Market cap:
$25.42 B
Vol. 24h:
$1.80 B
.
In a follow-up post on Truth Social, the President stated that Bitcoin and Ethereum would serve as the core assets of this reserve. As a result, BTC price spiked past $94,000 on Sunday before retracing slightly.
Strong BTC Price Movement Ahead: Analyst
Popular crypto analyst, Ali Martinez, believes the current Bitcoin price level presents an ideal buying opportunity as the current funding rate across exchanges is at -0.001. He explained that such negative funding rates have historically preceded strong upward price movements for Bitcoin.
The best buying opportunities often come when funding rates drop below 0, and right now, #Bitcoin $BTC funding rates across all exchanges are at -0.001! pic.twitter.com/cp97VNNlw7
— Ali (@ali_charts) March 3, 2025
Martinez also pointed to the global liquidity cycle, which has been on an uptrend. He argued that Bitcoin has lagged behind this macro trend since July 2024, suggesting a potential catch-up phase that could propel its price significantly higher.
Bitcoin’s market capitalization stands at $1.83 trillion, reflecting a 7.5% increase over the past day. Investors are closely monitoring this development, particularly with the upcoming White House Crypto Summit scheduled for March 7, where regulatory policies and stablecoin oversight will be discussed.
Bitcoin Price Trajectory
At the time of writing, Bitcoin is trading around $92,400. On the daily BTC price chart, a potential bullish crossover appears to be forming on the MACD indicator, which could signal an impending trend reversal. If the MACD crosses upward, Bitcoin may see a push past $95,000, with a retest of recent highs near $100,000.
Meanwhile, the RSI has just rebounded from oversold levels, suggesting improving buying momentum. If it crosses above 50, it may confirm a stronger uptrend. However, a rejection at this level could lead to further consolidation in the $90,000–$92,500 range.
On the other hand, the BTC price is still recovering after testing the lower Bollinger Band, a sign of an oversold condition. The middle band at $93,375 acts as immediate resistance, while the upper band near $103,000 represents the next bullish target.
Financial institutions are increasingly taking bullish stances on Bitcoin’s long-term trajectory. Geoff Kendrick, a senior analyst at Standard Chartered, maintains a price target of $500,000 for Bitcoin before President Trump leaves office.
Bitcoin News Today: BTC Price Skyrockets 8% from $80K Low, Bulls Target Six-Figure Breakthrough
