Bitcoin Price Analysis

Bitcoin rose above $84,000 following the CPI data that was below expectations, yet there remain expectations for a decline in BTC.

Overall, analysts predict Bitcoin could fall further due to:
– Tariff tensions
– Uncertainty regarding the Fed’s rate cut

Currently, it’s estimated that BTC risks falling to the $70,000 level. US asset management company Fidelity noted that $70,000 is a significant support level for Bitcoin.

Jurrien Timmer, head of global macro at Fidelity, highlighted that the key level to monitor is $70,000. Timmer suggested that the recent correction may be a step towards Bitcoin’s next uptrend, but emphasized that it might be premature to declare that a rise is imminent.

Timmer pointed out the importance of the $70,000 support level for Bitcoin and mentioned that other top analysts agree that this level is critical, predicting the price could bottom there.

> Despite the announcement of a Strategic Bitcoin Reserve, there have been significant sell-offs, evident from ETP outflows and decreasing open interest. The saying, “Buy the rumor, sell the news” holds true. Perhaps this correction will…
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> — Jurrien Timmer (@TimmerFidelity) March 12, 2025

This is not investment advice.