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Bitcoin must secure weekly close above $89K to confirm bottom has passed

cryptoweekly by cryptoweekly
March 13, 2025
in bitcoin, News
0

A crypto analyst calls $89,000 crucial for Bitcoin’s uptrend, a level which would also liquidate $1.6 billion in short positions.

Bitcoin must close the week above $89,000 to signal an end to the short-term downtrend, says a crypto analyst.

“The only way for Bitcoin to confirm that the bottom is actually in would be to close a weekly back above $89K,” crypto analyst Matthew Hyland said in a video posted to X on March 13.

Bitcoin (BTC) last traded at $89,000 on March 7, a level Hyland considers crucial since it was the support area where Bitcoin ultimately ended up “breaking down below.” After falling below $89,000, it dropped to $78,523 on March 11 before stabilizing in the low $80,000s.

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Recent Posts
  • Hong Kong hoses down stablecoin frenzy, Pokemon on Solana: Asia Express
  • Bitcoin is losing its bullish momentum: Is a drop to $115K next?
  • MEV arbitrageurs on Ethereum increasingly centralized — Research
  • Ex-Gemini, Kraken exec appointed as CEO of crypto advocacy group
  • ETH core developer testifies in Roman Storm defense as gov’t rests case
  • XRP vs ETH: Which token is quietly outperforming in whale-fueled rallies?
  • Fintech, crypto groups press Trump to protect open banking amid bank pushback

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