The post Bitcoin Price Falls Below $80,000, Top Analyst Predicts What Next appeared on BitcoinEthereumNews.com.

After days of persistent market volatility, the price of Bitcoin (BTC) has fallen below the $80,000 milestone. Several market analysts have voiced their opinions about Bitcoin’s price dynamics and the future of the leading cryptocurrency. Alongside BTC, most top market altcoins are in red, raising concerns for crypto investors. Bitcoin Records Historic Fall for the Month So far, March has seen Bitcoin fall below key levels. According to market data, BTC’s price has dropped over 18% in the month, dropping below the psychological $80,000 level. Within 24 hours, Bitcoin price decreased by 4.5% to trade at $78,369. This is the second time the flagship coin has dropped below the $80,000 mark following a massive market sell-off. The price of Bitcoin surged to $94,000 last week following President Donald Trump’s crypto reserve announcement. Shortly after, Bitcoin took a steep dive, dropping below $84,000, erasing most recent gains. The sharp decline wiped out almost $980 million in leveraged positions, marking one of the most significant single-day liquidation events in recent months. Market analysts attributed this sudden downturn to a classic “buy the rumor, sell the news” reaction following Trump’s crypto reserve announcement. Bitcoin briefly reclaimed $92,000 before retreating, dropping below $90,000 on March 6. This decline mirrored the weakness in U.S. equities. The S&P 500 dropped 1.3% after Philadelphia Federal Reserve President Patrick Harker warned of economic stress in lower-income households. Also, the market remained cautious ahead of Trump’s March 7 Crypto Summit. Despite speculation of bullish announcements, traders showed limited enthusiasm, with Bitcoin falling 2%. The Benjamin Cowen BTC Prediction Market participants are now forecasting the future direction of BTC amid the overwhelming volatility. Top market analyst Benjamin Cowen reiterated that Bitcoin dominance has returned to over 60%. On January 2, Bitcoin dominance broke over 60% amid a general downturn in…

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Filed under: News - @ March 11, 2025 9:23 am