{"id":124832,"date":"2025-03-11T11:15:43","date_gmt":"2025-03-11T11:15:43","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124832"},"modified":"2025-03-11T11:15:43","modified_gmt":"2025-03-11T11:15:43","slug":"bitcoin-price-bounces-4-as-data-gives-89-chance-stocks-bottom-is-in","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124832","title":{"rendered":"Bitcoin price bounces 4% as data gives &#039;89% chance&#039; stocks bottom is in"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) rebounded above $81,000 on March 11 as US stocks\u2019 futures sought relief from a brutal sell-off.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<br \/>\nBTC price bounces back amid calls for short squeeze<br \/>\nData from Cointelegraph Markets Pro and TradingView showed daily BTC price gains approaching 4%.<br \/>\nNew four-month lows had accompanied the previous day\u2019s Wall Street trading session as recession fears sent risk-asset investors fleeing.<br \/>\nThe S&amp;P 500 and Nasdaq Composite Index finished the day down 2.7% and 4%, respectively. At the time of writing, Nasdaq 100 futures had recovered around 0.4% from a trip to their lowest levels since September 2024.<br \/>\nCommenting, trading resource The Kobeissi Letter suggested that markets had entered an unsustainable downtrend.<br \/>\n\u201cAre we overdue for a massive short squeeze?\u201d it queried in a thread on X, noting risk-asset sentiment in \u201cextreme fear\u201d territory.<br \/>\n\u201cEven bears who are calling for a prolonged bear market would need to see some relief rallies. Markets do not move in a straight-line long-term. Eventually, a (tradable) short squeeze is inevitable.\u201d<br \/>\nNasdaq 100 futures 1-day chart. Source: Cointelegraph\/TradingViewKobeissi and others referenced unusually high readings from the VIX volatility index while making the case for a sustained recovery.<br \/>\n\u201c$VIX has only been higher 11% of the time, going back to 1990,\u201d network economist Timothy Peterson, creator of several Bitcoin price forecasting tools, continued.<br \/>\n\u201cPut another way, there is an 89% chance that today was the bottom.\u201d<br \/>\nVIX volatility index. Source: Timothy Peterson\/XBitcoin analysis sees \u201cvery rough time\u201d ahead<br \/>\nBitcoin thus saw some much-needed upside on short timeframes after reaching $76,600 on Bitstamp.<br \/>\nRelated: Biggest red weekly candle ever: 5 things to know in Bitcoin this week<br \/>\n\u201c$BTC just had a bullish divergence on the 4H timeframe,\u201d trader Cas Abbe said while analyzing relative strength index (RSI) signals.\u00a0<br \/>\n\u201cI&#8217;m not saying this is the reversal but a short-term pump looks imminent now.\u201d<br \/>\nBTC\/USD 4-hour chart with RSI data. Source: Case Abbe\/XPreviously, trader and analyst Rekt Capital told X followers to watch for similar RSI cues from the daily chart to confirm a more sustainable BTC price comeback.<br \/>\nZooming out, other popular crypto market participants remained gloomy. Among them was the pseudonymous X trader HTL-NL, who concluded that BTC\/USD was unlikely to match all-time highs.<br \/>\nBTC\/USDT 1-day chart. Source: HTL-NL\/X\u201cBefore anyone of you think this is specifically happening in crypto: it\u2019s not,\u201d another of his latest posts said alongside a chart of S&amp;P 500 futures.\u00a0<br \/>\n\u201cIt happens to all risk off assets. It\u2019s called a recession probably. US is in for a very tough time.\u201d<br \/>\nS&amp;P 500 futures 1-day chart. Source: HTL-NL\/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-bounces-4-data-89-chance-stocks-bottom-is-in?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) rebounded above $81,000 on March 11 as US stocks\u2019 futures sought relief from a brutal sell-off.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView BTC price bounces back amid calls&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124832"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124832"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124832\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124832"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}