Bitcoin analysts are monitoring weekly close above $85k to avoid correction to $76k

From Cointelegraph

March 23, 2025 08:20:00 AM:

Bitcoin analysts are closely watching the weekly close to predict the next week’s price movement, with global trade war fears and easing inflation concerns impacting traditional and crypto markets. A close above $85,000 is crucial to prevent a drop to $76,000 and signal strength, with $87,000 providing clear bullish confirmation.

Bitcoin’s price has only risen by 0.9% over the past week, with a disappointing weekly close risking a retest of the previous week’s low of $76,600. Market analysts suggest long-term holder accumulation is key to understanding Bitcoin’s trend, with total supply held by long-term holders increasing by over 250,000 BTC in less than two months.

Despite positive regulatory and crypto-specific developments, global tariff fears are expected to continue pressuring the markets until at least April 2. Long-term holders have been quietly accumulating Bitcoin since February, with over $21 billion worth of Bitcoin purchased by these holders so far this year.

Read more at Cointelegraph: Bitcoin needs weekly close above $85k to avoid correction to $76k: analysts