Where Will the Recovery in Bitcoin Start from? Successful Analyst Revealed the Bottom Level, Advising Investors to "Watch Out for This Event in March!"

2025-02-26 09:53:58

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Bitcoin (BTC) price fell below the $90,000 support level for the first time in over three months, creating a negative sentiment among investors.

Bitcoin is currently 12% below the $100,000 milestone, with analysts noting that sufficient buying pressure and positive macroeconomic developments could push BTC higher.

However, although analysts expect a rise, they warn that a rise may be preceded by further declines.

At this point, Markus Thielen, research president of ***10x Research, known for his successful predictions, said that Bitcoin has the potential to drop to $73,000.

In a recent report, Markus Thielen, head of research at cryptocurrency analytics platform 10x Research, stated that Bitcoin has formed a diamond top pattern, a bearish technical indicator that signals a possible decline.

Thielen stated that BTC failed to maintain the important support levels of $95,000 and $92,000, adding that short-term investors are at a loss outside of the diamond top pattern, which will support further corrections.

The experienced analyst stated that while expecting a decline in Bitcoin, historical trends indicate a possible recovery around $73,000 in Bitcoin.

Thielen stated that the long-term upward trend expectation is still valid, and investors need to closely monitor the March FED interest rate decision.

BTC0,24%

MART-1,38%

ALT1,09%

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