Bitcoin's Wild Ride: From $78K to $109K, BTC Eyes $130K Breakout
1min read Bitcoin (BTC) has experienced significant volatility in recent months, with its price swinging between $78,248.92 and $109,114.88. Despite this rollercoaster ride, the world's largest cryptocurrency has shown signs of recovery, climbing from $81,529.24 to $88,911.27 in just 24 hours, marking a 4% increase. At the time of writing, btc is trading at $87,070.61.
Analysts predict that Bitcoin will remain within a trading range of $80,000 to $100,000 for the next two to three months. This period of consolidation is common in bull markets and often provides stability and renewed momentum for the market. A decisive breakout above $100,000 could mark the end of this corrective phase, potentially paving the way for a rally toward $130,000.
The recent volatility followed US President Donald Trump's March 1 announcement pledging a crypto reserve. This news initially caused Bitcoin to surge 12% from $85,000 to $95,000. However, strong selling pressure in the Bitcoin spot market has already erased most of those gains.
Market sentiment currently shows "Extreme Fear" according to the Crypto Fear & Greed Index, indicating widespread uncertainty and concern among market participants. Investors should prepare for a potential period of sideways trading as Bitcoin works through this corrective phase. The cryptocurrency may continue to fluctuate between $80,000 and $100,000 before making its next major move.
Despite the current challenges, many in the crypto community remain optimistic about Bitcoin's long-term prospects. The potential rally toward $130,000 mentioned by the CryptoQuant analyst suggests that there could be substantial upside once Bitcoin breaks out of its current consolidation phase. Bitcoin has shown remarkable resilience throughout its history, bouncing back from numerous downturns to reach new heights.
