As of March 5, 2025, Bitcoin (BTC) is trading at approximately $86,605. This follows a recent rebound influenced by President Donald Trump's announcement of establishing a U.S. Crypto Strategic Reserve, aiming to position the U.S. as the "Crypto Capital of the World." This development led to a 7.2% rise in Bitcoin's value, reaching $92,068.
Despite this uptick, Bitcoin remains below its all-time high of $109,135, achieved in January 2025. The cryptocurrency market has faced challenges, including a significant 17.5% drop in February, marking its largest monthly loss since June 2022. Factors contributing to this decline include increased market volatility, concerns over global trade prompted by newly imposed tariffs by President Trump, and a substantial cyber-attack on the Bybit exchange resulting in a $1.5 billion loss.
Looking ahead, market analysts predict that Bitcoin will not fall below $83,692.41 in March 2025, with a potential peak at $114,059.94 during the same month. Investors are advised to monitor key support levels at $80,400 and $74,000, and resistance levels at $98,500 and $106,000, to identify potential buying opportunities or profit-taking scenarios.
As always, the cryptocurrency market remains volatile, and investors should exercise caution and conduct thorough research before making any investment decisions.
