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cointelegraph.com Mar 24, 2025 17:09

Bitcoin must reclaim this key 2025 level to avoid new lows — Research - Bitcoin (BTC) neared $90,000 at the March 24 Wall Street open as analysis warned of “conflicting signs and signals.”BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBTC price daily gains near 3% in risk-asset reliefData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $88,772 on Bitstamp — its highest levels since March 7.Bitcoin followed stocks by opening the week higher after almost a month of sell-side pressure. The S&P 500 and Nasdaq Composite index were up 1.6% and 2%, respectively, at the time of writing.Commenting, trading resource The Kobeissi Letter explained the upside as a positive reaction to news that the US government was easing the severity of new trade tariffs set to become effective on April 2.It quoted sources reporting that “sector-specific tariffs” would emerge instead of blanket rules.“The S&P 500 is now up +75 points on the news,” it added.S&P 500 4-hour chart. Source: Cointelegraph/TradingViewCrypto market momentum had already gained thanks to rumors of the US potentially using gains on its gold reserves to purchase BTC.“If we actually realize the gains on [these holdings], that would be a budget-neutral way to acquire more Bitcoin,” Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said in an interview with the Crypto in America podcast last week.In his latest market analysis on March 24, Keith Alan, co-founder of trading resource Material Indicators, suggested that the news had not fallen on deaf ears.Despite the relatively modest BTC price uptick, he wrote in an X thread, “the announcement that the administration was considering selling Gold Reserves to buy Bitcoin certainly gave speculators some hopium.”“With gold in ATH territory, and BTC in a correction, this would be an opportune time to take some profit on Gold and buy Bitcoin,” he added.XAU/USD 1-day chart. Source: Cointelegraph/TradingViewBTC needs key support reclaim to avoid new lowsContinuing, Alan laid out two key prerequisites for sustained BTC price upside.Related: RSI breaks 4-month downtrend: 5 things to know in Bitcoin this weekThe 21-day simple moving average (SMA), currently at $84,674, as well as the 2025 yearly open at around $93,300, must both be reclaimed as support.BTC/USD 1-day chart with 21SMA. Source: Cointelegraph/TradingView“With conflicting signs and signals, how can we tell if Bitcoin is returning to a path to ATH territory or if this is a developing bull trap? The answer is knowing what your validation/invalidation levels are,” he explained.The yearly open, in particular, would be crucial, with Alan arguing that until it is reclaimed, “there is an increased likelihood that price will retest the lows.” “If/when that happens, Ill be buying those dips when buying resumes,” he concluded.This 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.

FOMO: 85%
cointelegraph.com Mar 24, 2025 17:20

Bitcoin price pumps, but will BTC break $92K anytime soon? - Bitcoin (BTC) price surged by 3% on March 24, distancing from its $76,900 low on March 11 despite failing to sustain the $88,000 level. Now, traders are wondering what factors could drive Bitcoins daily close above $92,000, which last occurred on March 3. Adding to cryptocurrency investors’ frustration, gold is trading just 1% below its record high of $3,057, while Bitcoin price trades 19% away from its all-time high.S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphSome analysts attribute Bitcoins recent price gains to the US-listed company Strategy increasing its BTC reserves, while others highlight macroeconomic factors, such as easing inflation expectations and a softer stance from US President Donald Trump on tariffs. Despite this constructive backdrop, traders question what is preventing Bitcoin from maintaining its bullish momentum.Bitcoin’s upside is limited as investors fear an economic recessionEconomists expect signs of a slowdown in the core Personal Consumption Expenditures (PCE) index, which is projected to rise by 2.7% in February, according to Yahoo News. This data, the US Federal Reserves preferred inflation metric, is set to be released on March 26.Implied expectations for the Sept. 17 FOMC. Source: CME FedWatch tool / CointelegraphIf confirmed, the softer inflationary trend would support Federal Reserve Chair Powells remarks on transitory inflation and increase the likelihood of two interest rate cuts in 2025, as reflected in the Treasury futures market.As the US central bank shifts to a less restrictive monetary policy, risk markets typically benefit from increased liquidity and reduced fixed-income appeal. However, uncertainty remains regarding economic growth.Investors are increasingly worried about recession risks due to excessive valuations in artificial intelligence stocks and concerns that US federal spending cuts could negatively impact consumers and the commercial real estate market. While these issues have little direct connection to Bitcoin, traders fear that all risk markets could suffer if the threat of stagflation emerges.The Wall Street Journal reported that President Trump is considering scaling back some tariffs initially planned for April 2. Although unconfirmed, the news suggests Trump may exclude certain industry-specific duties and grant exemptions to some nations. On March 24, S&P 500 futures rose 1.5% as investors perceived lower economic contraction risks, potentially supporting Bitcoin’s price gains.Strategy buys more Bitcoin, but is their tactic sustainable?On March 24, Strategy announced the acquisition of an additional $584 million in Bitcoin, increasing its holdings to 506,137 BTC. The funds for this latest purchase came from the sale of 1.97 million common stock shares, along with the broader $21 billion STRK perpetual preferred stock issuance program. These expanded fundraising options have improved the company’s chances of reaching its ambitious $42 billion Bitcoin acquisition target.While this news appears positive for Bitcoin’s price in the short term, if the US Federal Reserve implements expansionist measures, corporate earnings will likely accelerate, making stocks relatively cheaper. Likewise, a reduced risk of a full-scale global tariff war benefits the stock market and lowers risks in the artificial intelligence and commercial real estate sectors.Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur HayesSource: DexyyDxCritics argue that Strategy has been the primary factor supporting Bitcoin’s $80,000 level, posing a risk of price corrections if the company fails to raise additional funds or pauses its stock issuance program for any reason. However, this view overlooks the fact that Bitcoin spot exchange-traded funds (ETFs) saw $786 million in net inflows between March 14 and March 21.In essence, Bitcoin is well-positioned to recapture the $92,000 level, although it remains heavily dependent on overall macroeconomic conditions. Regardless of gold’s performance, investors view Bitcoin as a risk-on asset, favoring a higher correlation with the stock market, at least in the short term.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

FOMO: 85%
cointelegraph.com Mar 24, 2025 18:03

Price analysis 3/24: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK - Bitcoin (BTC) rose 4.25% last week to close above $86,000, and the bulls extended the recovery above $88,700 on March 24. 10x Research founder Markus Thielen said in a March 23 report that Bitcoin’s reversal indicators had turned positive, suggesting a “renewed uptrend.”Buyers seem to be returning to the markets. According to SoSoValue data, US Spot Bitcoin exchange-traded funds (ETFs) witnessed net inflows of $744.4 million last week after recording five consecutive weeks of outflows. However, Ether ETFs could not replicate a similar performance as they witnessed a fourth successive week of net outflows.Daily cryptocurrency market performance. Source: Coin360Analysts are divided about the near-term price action for Bitcoin. Select analysts believe Bitcoin could run into significant resistance near $90,000, starting a pullback toward $80,000. In contrast, BitMEX co-founder and chief investment officer of Maelstrom, Arthur Hayes, said in a post on X that Bitcoin will rally to $110,000 before it drops to $76,500.Could Bitcoin bulls maintain the momentum and push the price above $90,000? Will the altcoins follow Bitcoin higher? Let’s analyze the charts to find out.S&P 500 Index price analysisThe S&P 500 Index (SPX) has risen to the 20-day exponential moving average (5,742), where the bears are expected to step in. SPX daily chart. Source: Cointelegraph/TradingViewIf the price turns down from the 20-day EMA, the bears will attempt to drag the index below 5,670. If they succeed, the index may retest the critical support zone between 5,600 and 5,500.On the other hand, a close above the 20-day EMA will be the first indication that the correction may be ending. The index will then try to rise toward the 50-day simple moving average (5,913).US Dollar Index price analysisThe US Dollar Index (DXY) rebounded off the 103.37 level on March 19, indicating that the bulls are trying to form a floor.DXY daily chart. Source: Cointelegraph/TradingViewThe index could reach the 20-day EMA (104.59), which is an important level to watch out for. If the index turns down sharply from the 20-day EMA, the bears will again try to sink the price below 103.37. If they can pull it off, the index may collapse to 102 and eventually to 101.Contrarily, a break and close above the 20-day EMA suggests the bears are losing their grip. The index could climb to the breakdown level of 105.42, which is likely to act as a formidable barrier.Bitcoin price analysisBitcoin broke above the 20-day EMA ($85,572) on March 23, suggesting the start of a strong recovery.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA is flattening out, and the RSI has risen into positive territory, signaling a minor advantage to the bulls. The relief rally is expected to face stiff resistance at the 50-day SMA ($90,290). If the price turns down from the 50-day SMA but finds support at the 20-day EMA, it will indicate a positive sentiment. That increases the possibility of a rally to $95,000 and then to $100,000.Conversely, if the price turns down from the 50-day SMA and breaks below the 20-day EMA, it will suggest that the bears remain active at higher levels. A drop below $83,000 could sink the BTC/USDT pair to $80,000.Ether price analysisEther (ETH) bulls are again attempting to drive the price above the 20-day EMA ($2,057) and the breakdown level of $2,111.ETH/USDT daily chart. Source: Cointelegraph/TradingViewIf they manage to do that, it will signal that the markets have rejected the breakdown below $2,111. The ETH/USDT pair could rally to the 50-day SMA ($2,356) and subsequently to $2,550.Time is running out of the bears. If they want to retain the advantage, they will have to defend the $2,111 level and swiftly pull the price below $1,750. That may resume the downtrend toward the next support at $1,550.XRP price analysisXRP (XRP) turned up from the 20-day EMA ($2.38) on March 23, signaling that the bulls are using the dips to buy.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to push the price above $2.59. If they manage to do that, the XRP/USDT pair could climb to the resistance line, where sellers are expected to mount a strong defense. If the price turns down from the resistance line but rebounds off the 20-day EMA, it will indicate a positive sentiment. That improves the prospects of a break above the resistance line. The pair may then rally to $3.Sellers will have to tug the price below $2.20 to seize control. That could clear the path for a retest of the vital support at $2.BNB price analysisBNB (BNB) has bounced off the moving averages, indicating a change in sentiment from selling on rallies to buying on dips.BNB/USDT daily chart. Source: Cointelegraph/TradingViewIf the price rises and breaks above $644, it will indicate the resumption of the recovery. The BNB/USDT pair could ascend to $686 and above it to the crucial resistance at $745. The 20-day EMA ($613) is the strong support to watch out for on the downside. A break and close below the 20-day EMA could weaken the bullish momentum. The pair may slide to the 38.2% Fibonacci retracement level of $591 and then to the 50% retracement level of $575.Solana price analysisSolana (SOL) broke above the 20-day EMA ($135) on March 24, signaling that the bulls are attempting a comeback.SOL/USDT daily chart. Source: Cointelegraph/TradingViewIf the price maintains above the 20-day EMA, the SOL/USDT pair could rise to the 50-day SMA ($158). Sellers will try to stall the rally at the 50-day SMA, but if the bulls overcome the obstacle, the pair may surge toward $180. That will bring the large $110 to $260 range into play.Contrarily, if the price turns down from the current level or the 50-day SMA, it will suggest that the bears remain sellers on rallies. The bears will have to yank the price below the $120 to $110 support zone to start the next leg of the downtrend. Related: How long will Bitcoin’s price consolidation last?Dogecoin price analysisDogecoin (DOGE) has risen above the 20-day EMA ($0.18), indicating that the bulls have kept up the pressure.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewIf the price closes above the 20-day EMA, the DOGE/USDT pair could climb to the 50-day SMA ($0.21) and later to $0.24. Sellers are expected to defend the level, but if the bulls prevail, the pair could soar to $0.29.Contrarily, if the price turns down from the 20-day EMA and breaks below $0.16, it will signal that bears remain active at higher levels. The pair may then slump to the critical support at $0.14.Cardano price analysisCardano (ADA) has been trading between the moving averages and the uptrend line for the past few days.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe failure of the bears to sink the price to the uptrend line suggests a lack of selling at lower levels. Buyers will try to strengthen their position by pushing the price above the moving averages. If they do that, the ADA/USDT pair could rise to $0.84 and later to $1.02.This positive view will be invalidated in the near term if the price turns down from the moving averages and breaks below the uptrend line. That could sink the pair to $0.58 and eventually to $0.50.Chainlink price analysisChainlink (LINK) has broken out of the 20-day EMA ($14.60) on March 24, indicating that the downtrend could be ending.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe LINK/USDT pair could rise to the 50-day SMA ($16.34), which could again act as a stiff resistance. If the price turns down from the 50-day SMA, the pair is likely to find support at the 20-day EMA. If the price rebounds off the 20-day EMA, the likelihood of a rally to $19.25 increases.If bears want to prevent the upside, they will have to swiftly pull the price below $13.82. That may sink the pair to the channel’s support line near $12.This 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.

FOMO: 90%