The post Bitcoin (BTC) Price Prediction for March 4 appeared on BitcoinEthereumNews.com.

Bitcoin price faced a strong bearish pressure due to increasing selling domination below $85K. As a result, BTC price dropped below Fib levels and touched a low of $81,500. However, buyers soon emerged and rebounded the price. Over the past 24 hours, Bitcoin’s trading volume has increased by more than 8.6%, totalling $70.25 billion. In a broader perspective, Bitcoin fell below $100,000 on January 7 and showed a downward trend. It reached a low of approximately $89,397 on January 13. On Feb 3, Bitcoin again crashed and reached a low near $91K. In recent days, the price has been on a severe downtrend. Over the last 24 hours, its total market capitalization surged by 1.1%, settling at $1.74 trillion. Bitcoin’s Faces $350 Million Liquidation The cryptocurrency market is experiencing substantial volatility, with Bitcoin, the leading cryptocurrency, falling below the $81.5K mark. However, buyers soon rebounded the price from this low and triggered a strong rebound toward $88K. Recent data from Coinglass reveals that Bitcoin saw nearly $350 million in total liquidations over the last 24 hours, with buyers liquidating $240 million and sellers around $110 million, indicating a significant increase in long liquidations.  Additionally, the open interest for Bitcoin has dropped by 3.7%, touching over $48.5 billion in the last 24 hours. However, Bitcoin’s funding rate trades at +0.002%, indicating that buyers remain bullish. This could help buyers to continue pushing the BTC price upwards. Bitcoin Price Prediction: Technical Analysis Bitcoin’s price is experiencing strong bullish pressure as it continues to surge above immediate Fib levels. Sellers plunged the price toward the low of $81.5K but buyers quickly rebounded the price toward $88K. Currently, Bitcoin trades at $87,409, reflecting a 1.1% increase in the past 24 hours.  The BTC/USDT trading pair will now aim for a retest of the $95K…

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Filed under: News - @ March 5, 2025 10:27 am