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Bitcoin must secure weekly close above $89K to confirm bottom has passed

cryptoweekly by cryptoweekly
March 13, 2025
in bitcoin, News
0

A crypto analyst calls $89,000 crucial for Bitcoin’s uptrend, a level which would also liquidate $1.6 billion in short positions.

Bitcoin must close the week above $89,000 to signal an end to the short-term downtrend, says a crypto analyst.

“The only way for Bitcoin to confirm that the bottom is actually in would be to close a weekly back above $89K,” crypto analyst Matthew Hyland said in a video posted to X on March 13.

Bitcoin (BTC) last traded at $89,000 on March 7, a level Hyland considers crucial since it was the support area where Bitcoin ultimately ended up “breaking down below.” After falling below $89,000, it dropped to $78,523 on March 11 before stabilizing in the low $80,000s.

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  • BlackRock iShares Bitcoin ETF surpasses 700K Bitcoin
  • Bots behind most tokens on Pump.fun and LetsBonk: Coinbase exec
  • Bitcoin miner BitFuFu mines 445 BTC for its biggest production month
  • SEC acknowledges Trump’s Truth Social Bitcoin and Ethereum ETF
  • Vitalik Buterin advocates ‘copyleft’ licensing in crypto
  • Coinbase crypto lobby urges Congress to back major crypto bill
  • Gate.io deletes page showing a $600M Pump.fun token sale

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