Bitcoin Faces New Price Barriers in the Crypto Market: Volatility and Its Impact on Crypto

Jakarta, Pintu News – The cryptocurrency market has again shown high volatility with Bitcoin BTC->Harga BTC Saat IniRp 0Market CapRp 0Volume TradingRp 0Suplai BeredarRp 0 price movements experiencing significant ups and downs in recent days. Recent analysis from IntoTheBlock reveals that there is a certain price cap that could be a major obstacle for Bitcoin to continue rising. Based on on-chain data, around 2.29 million addresses bought a total of 1.66 million BTC within a certain price range, which could potentially be a strong resistance zone.

Main Barriers in the Range of Rp1.57 Billion to Rp1.62 Billion

According to IntoTheBlock’s report, there is a significant Bitcoin supply wall between Rp1,571,924,600 (USD 95,400) to Rp1,619,219,800 (USD 98,200). This means that many investors bought BTC at that price, and when the price approaches this figure again, they may sell to avoid further losses.

This phenomenon occurs because asset holders who previously incurred losses tend to sell their Bitcoin when the price returns to breakeven. On the other hand, optimistic investors may buy more BTC at this level in the hope that the price will rise again. These two factors will determine whether Bitcoin is able to break through this price barrier or if it declines again.

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

Bitcoin Volatility and its Impact on the Crypto Market

In the last few days, Bitcoin experienced a sharp spike to close to IDR 1,566,002,300 (USD 95,000) before finally dropping back to IDR 1,495,612,300 (USD 90,700). These rapid price fluctuations have many investors speculating on its next move.

Market sentiment also plays a significant role in cryptocurrency price movements. If fear dominates, many BTC holders will probably sell their assets to avoid further losses. However, if there is enough demand, Bitcoin could potentially break through this resistance and continue its rise.

Future Prospects of Bitcoin

The current state of the crypto market shows that Bitcoin still has a big challenge to go higher. The price movement in the coming days will largely depend on how investors react to the resistance zones that have been identified.

If there is enough buying pressure to break the price ceiling at around Rp1.6 billion, Bitcoin may return to its uptrend. However, if the selling pressure is stronger, the price will most likely drop back to lower levels. The decisions of both short-term and long-term investors will be a major factor in determining the future direction of Bitcoin price.

Conclusion

Bitcoin faces a big challenge with a strong resistance zone between Rp1.57 billion and Rp1.62 billion. Many investors are buying in this price range, so Bitcoin’s future movement will largely depend on the balance between demand and supply. If this resistance can be broken, Bitcoin could continue its upward trend. However, if the selling pressure is greater, the price could drop again. The volatility of the crypto market remains a major factor that investors should be aware of.

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

• IntoTheBlock/NewsBTC. Bitcoin’s Key Resistance Zone Identified by Analytics Firm. Accessed March 5, 2025.
• Featured Image: Generated by AI