The post Bitcoin’s Weekly Close Above $85,000 May Signal Potential Upside Amid Trade War Concerns, Analysts Suggest appeared on BitcoinEthereumNews.com.

Bitcoin’s price trajectory remains uncertain as analysts emphasize the importance of maintaining a weekly close above $85,000 amidst ongoing trade tensions. Concerns regarding a potential trade war have created a volatile environment for both traditional and cryptocurrency markets, compelling traders to focus on critical price levels. Ryan Lee, chief analyst at Bitget Research, noted, “A close above this level could prevent a drop to $76,000 and signal strength,” highlighting the gravity of market conditions. Bitcoin’s next critical weekly close is pivotal, as analysts warn that failure to exceed $85,000 may lead to significant downward corrections. Critical Weekly Close: A Pivotal Move for Bitcoin Prices As Bitcoin (BTC) approaches a crucial moment, analysts are closely monitoring its performance for the upcoming week. A close above the $85,000 threshold is being deemed essential for maintaining bullish momentum. Currently, Bitcoin’s price movement has shown a modest increase of only 0.9% over the past week, indicating potential volatility as traders weigh global economic factors. Ryan Lee from Bitget Research remarks, “The weekly close will be decisive.” This sentiment echoes throughout the market as traders assess not just the immediate price trends but also overarching macroeconomic issues, such as inflation rates and the stance of central banks. With Bitcoin’s previous weekly low at $76,600, a failure to surpass $85,000 could signify a challenging road ahead for the cryptocurrency. Long-Term Holder Accumulation: A Beacon of Hope While Bitcoin faces short-term challenges, the increasing activity among long-term holders could provide a stabilizing force in the market. Analyst Enmanuel Cardozo from Brickken emphasizes the importance of this group, stating, “Long-term holders continue to stack… the accumulation… since the dip is what we should be paying attention to.” Data reveals that long-term holders have accumulated over $21 billion worth of Bitcoin since February alone, with their holdings rising from…

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Filed under: News - @ March 23, 2025 12:27 pm