Bitcoin (BTC) Surges Past $88K: Is this the start of a new bull run? Here’s what analysts think!

Jakarta, Pintu News – Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- has shown significant gains since the beginning of this week, breaking through the $88,000 price level and showing signs of increased market optimism. This rise comes after a long period of price decline, during which Bitcoin (BTC) experienced heavy selling pressure.

On-Chain Resistance Zone Analysis

On-chain analytics platform, IntoTheBlock, has identified several resistance zones that might affect Bitcoin (BTC) price movements in the near future. These zones range from $88,355.91 to $101,603.95, where many addresses currently hold Bitcoin (BTC) at a loss.

The critical zone is around $97,400, where about 1.44 million Bitcoins (BTC) are held by investors who have yet to realize profits. This could create selling pressure as prices begin to recover, especially if market uncertainty persists.

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Outflows from Exchanges and Indications of Investor Confidence

According to data from IntoTheBlock, there has been a net outflow of over $220 million from centralized exchanges in the last 24 hours. Total outflows for the week have exceeded $424 million, which is often interpreted as a sign that investors are moving assets into cold storage rather than preparing to sell.

These outflows suggest that despite significant resistance ahead, there are still signs of confidence from investors who may see the recent price drop as a buying opportunity.

Technical Outlook and Breakout Potential

From a technical perspective, analysts are divided on where Bitcoin (BTC) is headed next. Ali, a crypto analyst, points out that Bitcoin (BTC) is approaching a key resistance zone around $89,000, where the 50-day moving average converges with the downtrend line from January’s record high.

On the other hand, Javon Marks, another analyst, has identified a pattern that may indicate a breakout. Marks notes that the previous breakout triggered one of the fastest rallies in this cycle and sees similar technical behavior emerging again.

Conclusion: Is Bitcoin (BTC) Ready for a New Bull Run?

With selling pressure from resistance zones and significant outflows from exchanges, the Bitcoin (BTC) market is currently at a crossroads. If momentum can be maintained, there is potential for significant price gains, perhaps even reaching new records. However, investors should remain wary of high volatility and the potential influence of macroeconomic reports, such as the upcoming US Core PCE report, which could trigger further price fluctuations.

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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. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Pushes Past $88K Amid Rising Volatility and On-Chain Resistance Zones. Accessed on March 27, 2025
• Featured Image: Generated by AI