BTC’s current value is $98,000 after a 7% increase. It seems that traders are indeed happier with the most recent increase in price. However, what seems to be the cause behind this massive change?
What’s Causing the Growth of Bitcoin Yet Once Again?
The CME Bitcoin futures market has a new price gap way up high above $98,000 that is adding fresh demand and is in turn further increasing the value of BTC. Previously, these gaps acted as price magnets. Meaning, Bitcoin had a tendency to gravitate towards these gaps in order to fill them. Traders are convinced this will have a short-term impact that is favourable to BTC.
At the same time, some global news are working towards the price of Bitcoin as well. The United States government imposed new tariffs on Canada and Mexico, with Trump hinting at additional tariffs on EU countries. The news created uncertainty for conventional financial markets, which led to a selloff of altcoins and stocks. However, as opposed to many other assets, Bitcoin did better, supporting the thesis that some investors perceive it during economic turbulence.
$BTC – first battle here for the markets is for Bitcoin to win back it's Hourly EMA ribbon
— Ijaz Awan (@realijazawan) February 27, 2025
Getting rejected here won't be a good look for an immediate recovery pic.twitter.com/SkQlZkXYm1
Predicted Trends About Bitcoin
A few traders and analysts have discussed their individual perspectives regarding the fluctuation of Bitcoin’s value. Despite the shifting market, Trader Johnny claims that BTC remains robust when stacked against other cryptocurrencies.
Rekt Capital, an analyst, argues that for a recovery trend to be considered bullish in the long run, Bitcoin has to close above $96,600 by the end of February at the very latest.
As a trading company, QCP Capital observed that the price movements of Bitcoin are not independent as they tend to move with the market, much like a stock would.
Technical Indicators: Bottom Signals
One of the promising looks for Bitcoin pricing comes from its RSI, or relative strength index on hour 4 chart, which measures a trader’s activity to gauge if the asset is too weak or strong.
Smoothly, the four-hour RSI for Bitcoin hit below 30, implying that BTC suffered from an overselling condition, which hasn’t been the case since August 2024. So forth, traders who sustained these conditions got an exceeding gain for their instincts. Caleb Franzen, an analyst at Cubic Analytics, pointed out that having these RSI dips should prompt investing from traders.
The next key milestone for Bitcoin is whether it can break the psychological barrier of $98,000 and, more importantly, sustain that level. If this level is breached, traders will certainly seek more upside. However, BTC might continue to face challenges given the world’s economic uncertainty and stock market turbulence.
At this moment, Bitcoin seems to be resilient, and traders have their eyes peeled on how the market evolves in the next few days.
 rebounded 7% to $98,000 after a drop to $90K. Analysts predict key resistance levels and potential trends. Will BTC sustain its rally? Read more.){kind=link}