Bitcoin's Wild Ride: From $92K to $83K in 24 Hours, Analysts Predict $300K Surge or Deeper Correction

Coin WorldWednesday, Mar 5, 2025 8:58 am ET

1min read

The Bitcoin market has been volatile in recent days, with prices experiencing both gains and losses. One analyst, Gert van Lagen, has forecast an imminent Bitcoin price surge to $300,000, based on the formation of an Inverse Head and Shoulder pattern. This pattern suggests a shift from a bearish trend to a bullish trend, and a successful retest of the neckline could solidify Bitcoin's bullish move. However, another analyst warns that a drop below $72,900 in the weekly timeframe could invalidate this bullish outlook and signal a deeper price correction.

Despite the optimistic outlook, Bitcoin has been experiencing bearish momentum. In just 24 hours, Bitcoin lost virtually all the price gains it had accumulated since President Donald Trump announced plans for a crypto reserve. The cryptocurrency was trading above $92,000 the previous day but has since dropped to $83,699 as of writing, a 9.18% decrease in the last 24 hours and a 16% decrease over the past month.

Bitcoin's recent price movements have reflected a mix of optimism and uncertainty for investors. Earlier this week, Bitcoin surged to $94,000 following news of a potential regulatory breakthrough in the United States. However, the cryptocurrency has since crashed, with some analysts warning that BTC may struggle to rally past $100K. The CME bitcoin futures chart is in focus once again as bitcoin's recent 12% retracement has filled the latest CME gap, caused by the exchange's weekend trading hours.

While some analysts remain optimistic about Bitcoin's future outlook, others warn of potential risks. Jesse Colombo, a widely followed financial analyst, has warned that XRP could be on the brink of a significant crash, citing a head-and-shoulders pattern. Meanwhile, Bitcoin cycle analysis shows that BTC should peak around October 2025 and could reach $250,000. However, these predictions should be taken with a grain of salt, as the cryptocurrency market is highly volatile and unpredictable.

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