Bitcoin (BTC) Price Prediction for March 11

Bitcoin price faced a strong bullish pressure due to increasing buying domination around the recent low of $76K. As a result, BTC price surged toward $82K but faced a minor correction later. Over the past 24 hours, Bitcoin’s trading volume has surged by more than 30.8%, totalling $59.16 billion.

In a broader perspective, Bitcoin fell below $100,000 on January 7 and showed a downward trend. It reached a low of approximately $89,397 on January 13. On Feb 3, Bitcoin again crashed and reached a low near $91K. In recent days, the price has been on a severe downtrend below $80K; however, it is aiming for a recovery. Over the last 24 hours, its total market capitalization surged by 0.24%, settling at $1.6 trillion.

Bitcoin’s Long/Short Ratio Surges

The cryptocurrency sector is currently facing a slump, influenced by global trade tensions and the new policy initiatives from President Donald Trump regarding Bitcoin reserves. The introduction of an Executive Order by Trump, which establishes a Strategic Bitcoin Reserve and allows for a digital asset stockpile, initially might seem positive, but has paradoxically led to a downturn in the market.

Investor dismay stems from the fact that the Executive Order lacks provisions for immediate funding for Bitcoin purchases. Instead, it mandates that the Secretaries of Treasury and Commerce develop methods to acquire more Bitcoin without affecting the federal budget and avoiding direct expenditures of taxpayer money. This strategy, which sidesteps immediate financial commitment to Bitcoin, has been met with disappointment from investors.

Recent data from Coinglass reveals that Bitcoin saw nearly $264 million in total liquidations over the last 24 hours, with buyers liquidating $184 million and sellers around $80 million, indicating a significant increase in long liquidations. Additionally, the open interest for Bitcoin has dropped by 0.36%, touching over $46.5 billion in the last 24 hours. 

Additionally, Bitcoin’s long/short ratio has been surging quickly as it now trades at 1.1. This shows that nearly 51% of total positions are expecting the BTC price to surge upward.

Bitcoin Price Prediction: Technical Analysis

Bitcoin’s price is experiencing strong bullish pressure as BTC aims for a hold above the $80K level. Bitcoin gained momentum after the price touched a low at around $76K. Currently, bears are strongly defending a surge as Bitcoin faces multiple rejections.  As of writing, Bitcoin trades at $81,598, reflecting a 1.1% rise in the past 24 hours.

The BTC/USDT trading pair will now aim for a retest of the zone between $87K and the descending resistance line. As buying pressure rises, buyers will continue to defend further decline. If BTC price surges above $90K, we might see a recovery toward $95,000.

On the other hand, if Bitcoin fails to meet buyers’ demand around $87K, we might see a decline toward the low of $75,000.

Bitcoin Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, BTC price might aim for $87K-$90K. If it surges above that level, we might see $95,000. On the other hand, $75K is the lower range.

Long-term: According to Coincodex’s current Bitcoin price prediction, the price of Bitcoin is expected to increase by 33.62% and reach $108,922 by April 10, 2025. Coincodex’s technical indicators reveal that the current market sentiment is bearish, while the Fear & Greed Index indicates a level of 24, reflecting extreme fear. Over the last 30 days, Bitcoin experienced 13 green days out of 30, with a price volatility of 5.89%. Based on this forecast, it is currently not recommended to buy Bitcoin.

Investment Risks for Bitcoin

Investing in Bitcoin can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.