Bitcoin price surges above $93,000, analysts say investors need to be vigilant (4/3/25)

Jakarta, Pintu News – Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- recently recorded a significant gain of 8% in the past 24 hours, marking a recovery from last month’s losses. Currently, Bitcoin (BTC) is trading at $93,202 and is attempting to hold $93,625 as support. Despite the excitement among investors, it is important to remain cautious in making investment decisions.

Sentiment-Based Trading: High Risk

Data from Santiment shows that traders are often wrong in predicting Bitcoin (BTC) price movements. When the market expects an increase, the price tends to fall. Conversely, when the market anticipates a decline, the price of Bitcoin (BTC) often rises. This shows that market uncertainty is still very high, making trading based on sentiment very risky.

Investors are advised to closely monitor market volatility, especially as Bitcoin (BTC) attempts to break the $100,000 mark. Historically, contrarian strategies have often been more effective than following market sentiment. With the ongoing uncertainty, going against the grain can be a wise strategy.

Also Read: Why is Ripple Still Fighting in Court Despite SEC Dropping Another Crypto Case?

Bitcoin’s Dominance and Upside Potential

Bitcoin’s (BTC) dominance currently stands at 60.74%, creating a pattern similar to the period of 2020-2021, when the price of Bitcoin (BTC) rose sharply before declining. A similar pattern seems to be emerging again, suggesting that historical patterns could repeat themselves. Although Bitcoin (BTC)’s dominance is declining, this often works to its advantage in the long run.

As Bitcoin’s (BTC) dominance declines, other cryptocurrencies like Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply- and Ripple XRP->Current XRP PriceRp 0Market Cap-Trading Volume-Circulating Supply- start to gain traction. However, in most cases, Bitcoin (BTC) often benefits from this situation. The current market structure suggests a transitional phase, during which Bitcoin (BTC) may experience further gains. If this pattern continues, Bitcoin’s (BTC) recent price gains could continue and reinforce the positive momentum.

Bitcoin Needs to Secure Support

The 8% increase has pushed the price of Bitcoin (BTC) to $93,202. If Bitcoin (BTC) manages to hold $93,625 as support, then a potential rise to $97,696 becomes more likely. Securing this level will increase the bullish momentum, reinforcing Bitcoin (BTC)’s recovery.

Turning the 50-day EMA into support is key to maintaining gains. This move will erase the losses incurred in February and form the basis for further appreciation. If Bitcoin (BTC) manages to maintain this trajectory, then there is a possibility of testing higher resistance zones again.

Conclusion

Although there is great potential for further upside, failure to sustain the price above $95,761 could take away the bullish momentum, possibly leading to a drop towards $92,005. Missing this key level could trigger further declines, weakening Bitcoin’s (BTC) upward trajectory.

Also Read: XRP Faces Hurdle at $2.4: Can Bulls Break Through? (4/3/25)

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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

• BeInCrypto. Bitcoin Price is Back Above Support. Accessed on March 4, 2025
• Featured Image: Generated by AI