{"id":125637,"date":"2025-03-23T12:26:56","date_gmt":"2025-03-23T12:26:56","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125637"},"modified":"2025-03-23T12:26:56","modified_gmt":"2025-03-23T12:26:56","slug":"bitcoin-needs-weekly-close-above-85k-to-avoid-correction-to-76k-analysts","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125637","title":{"rendered":"Bitcoin needs weekly close above $85k to avoid correction to $76k: analysts"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin analysts are eying the weekly close to gauge Bitcoin\u2019s price trajectory for next week, as traditional and crypto markets are lacking direction amid a mix of global trade war fears paired with easing inflation concerns.<br \/>\nBitcoin&#8217;s (BTC) price may see more downside next week unless it manages to close the week above the $85,000 psychological mark, according to Ryan Lee, chief analyst at Bitget Research.<br \/>\n\u201cBitcoin\u2019s relief rally after the FOMC meeting and lower CPI readings has analysts eyeing a weekly close above $85,000, as critical for resuming upside momentum,\u201d Lee told Cointelegraph, adding:<br \/>\n\u201cA close above this level could prevent a drop to $76,000 and signal strength, while $87,000 would provide even clearer bullish confirmation. Macro factors like steady rates and cooling inflation support risk assets, but the Sunday close will be decisive.\u201d<br \/>\nBTC\/USD, 1-year chart. Source: CointelegraphBitcoin\u2019s price has been lacking momentum, rising only 0.9% over the past week, Cointelegraph Markets Pro data shows. A disappointing weekly close risks a revisit to the previous week\u2019s price low of $76,600.<br \/>\nRelated: Whale closes $516M 40x Bitcoin short, pockets $9.4M profit in 8 days<br \/>\nMarkets should \u201cpay attention\u201d to long-term holder accumulation: analyst<br \/>\nWhile Bitcoin may experience short-term downside, the relief rally after the Federal Open Markets Committee (FOMC) meeting was a positive sign for market participants, according to Enmanuel Cardozo, market analyst at Brickken real-world asset (RWA) tokenization platform.<br \/>\nInstead of short-term fluctuations, investors should pay attention to long-term Bitcoin holder accumulation to gauge BTC\u2019s trend, the analyst told Cointelegraph, adding:<br \/>\n\u201cLong-term holders continue to stack, as we\u2019ve seen in on-chain data, the accumulation by these holders, quietly building since the dip is what we should be paying attention to.\u201d<br \/>\nLong-term holders resumed their Bitcoin accumulation at the beginning of February, buying over $21 billion worth of Bitcoin since.<br \/>\nBTC: Total supply held by long-term holders, year-to-date chart. Source: GlassnodeThe total Bitcoin supply held by long-term holders increased by over 250,000 BTC in less than two months, from 13.1 million BTC on Feb. 11 to over 13.3 million on March 22, Glassnode data shows.<br \/>\nRelated: Trader nets $480K with 1,500x return before BNB memecoin crashes 50%<br \/>\nBTC\/USD, 1-day chart. Source: Cointelegraph\/TradingViewDespite a wave of positive regulatory and crypto-specific developments, global tariff fears will continue to pressure the markets until at least April 2, according to Nicolai Sondergaard, a research analyst at Nansen.<br \/>\nMagazine: Bitcoin\u2019s odds of June highs, SOL\u2019s $485M outflows, and more: Hodler\u2019s Digest, March 2 \u2013 8<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-weekly-close-85k-correction-76k-analysts?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 analysts are eying the weekly close to gauge Bitcoin\u2019s price trajectory for next week, as traditional and crypto markets are lacking direction amid a mix of global&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\/125637"}],"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=125637"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125637\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125637"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}