Bitcoin Holds Strong at $82,800 Today (March 19, 2025) – Poised for a Surge to $89K or a Drop to $77K?

Jakarta, Pintu News – Since closing at a low of $78,620 on March 10, Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- has started to rise and is currently showing a gradual upward trend.

As the largest cryptocurrency, BTC recorded a 1.42% price increase in the past week. Meanwhile, on-chain data indicates renewed accumulation by whales, which could be a positive signal for future price movements.

Bitcoin Price Up 0.44% in 24 Hours

As of March 19, 2025, Bitcoin (BTC) is trading at $82,815 (approximately IDR 1,370,675,976), marking a modest 0.44% increase over the past 24 hours. During this timeframe, BTC reached a daily high of IDR 1,375,559,258 and dipped to a low of IDR 1,344,326,773, reflecting a period of steady but cautious movement in the market.

According to CoinMarketCap, Bitcoin’s market capitalization is now $1.64 trillion, with trading volume in the last 24 hours rising 3% to $24.47 billion.

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Bitcoin Whale Demand Increases as Investors Buy at Low Prices

In a recent report, CryptoQuant analysts under the pseudonym Onchained found that a new wave of Bitcoin whales has emerged.

These large investors have wallets with at least 1,000 BTC and the average age of their holdings is less than six months.

” On-chain data confirms that since November 2024, these wallets have accumulated over 1 million BTC, making them one of the most influential players in the market. The speed of their accumulation has increased sharply in recent weeks, with more than 200,000 BTC having been collected in just this month,” Onchained wrote.

When new whales start showing interest in BTC like this, it signals increasing bullish confidence in its long-term performance.

BTC’s price drop to the lowest level in recent years has driven this accumulation trend, as it provides opportunities for whales tobuy the dip and sell at a higher price.

In addition, BTC holders have also increased their coin storage time in the past week, indicating a return of bullish sentiment towards this asset. According to IntoTheBlock, this figure increased by 12% in the last seven days.

Coin holding time measures the average length of time tokens are held before being sold or transferred. When this time gets longer, it reflects stronger investor confidence, as they choose to keep their coins rather than sell them.

Read also: Ethereum Price Edges Higher Today (3/19/25) – Is This the Start of a Major Bull Run?

This phenomenon could help alleviate selling pressure along with the reduced supply of BTC in the market, which in turn has the potential to push up prices in the near future.

Bitcoin at a Crossroads: Rebound to $89,000 or Fall to $77,000?

Although BTC’s Elder-Ray Index still shows a red histogram, its bar size has gradually reduced in recent days.

This indicator compares buying pressure with selling action to determine the price trend of an asset. When the bars of its histogram get smaller, it signals a weakening of bearish pressure.

This shows that BTC sellers are starting to lose momentum, while buyers are slowly coming in.

If this trend continues, BTC’s price decline could slow down, allowing the price to rise back towards $89,434.

However, if the selling pressure strengthens again, BTC risks falling deeper to touch the $77,114 level.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Bitcoin Price Rebound Gains Traction as New Whales Buy Over 200,000 BTC. Accessed on March 19, 2025