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Bitcoin at $80K: Is A Reversal Possible Before $75K Retest?

Albert Brown
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Bitcoin at $80K: Is A Reversal Possible Before $75K Retest?

Bitcoin (BTC) price bounces back to $82k after visiting $80k. A triangle breakdown amid the recent crash warns of the $75k retest.

With another wave of liquidations in the crypto market worth $619 million in the past 24 hours, Bitcoin momentarily reached the $80,000 level. Currently, Bitcoin trades at $82,520 with an intraday recovery of 2.25%. 

This comes after a 6.36% crash on Sunday. With a new bearish engulfing on the chart and the lowest closing price since November 11, 2024, is Bitcoin bound to test the $75,000 mark? Let’s find out. 

Bitcoin Down to $80k, Warns $75k Retest

In the daily chart, the BTC price trend showcases a bearish reversal from the 78.60% Fibonacci level, leading to a triangle breakdown. During the four-day crash, BTC price registered a downfall of nearly 11% to crash below a long-coming support trend line. 

Bitcoin Price Chart
Bitcoin Price Chart

Moreover, Bitcoin undermined support at the 61.80% Fibonacci level. The bearish engulfing candle formed on Sunday has signaled a potential selling opportunity, coinciding with the triangle breakdown.

Currently, the intraday recovery is teasing a potential retest of the broken trendline. However, the technical indicators maintain an optimistic viewpoint. The daily RSI line reveals a bullish divergence in the BTC price trend. 

Furthermore, the Chaikin Money Flow Index remains positive despite the intense pullback. Hence, if BTC manages to sustain a closing price above the 61.80% Fibonacci level, a short-term consolidation could improve the timing of a bullish recovery. 

Based on the Fibonacci levels, the immediate critical resistance for Bitcoin is the 78.60% level at $91,780.

On the flip side, if BTC reverses after retesting the broken support trendline, a bearish continuation could follow. In that case, the 50% Fibonacci level at $75,533 could become a potential price target.

Fear in Crypto Similar to Previous Crashes

In a recent tweet, crypto analyst Inmortal pointed out the growing fear in the market. By referencing the Crypto Fear and Greed Index, the analyst noted that current fear levels are comparable to those seen during the COVID-19 crash and the 2022 market bottom.

However, as observed during the COVID-19 crash and the 2022 bottom, the market followed with a V-shaped reversal. Given that the market is at similar fear levels, there’s a possibility that it may follow the same historic trend and recover in a similar V-shaped pattern.

 

Will Bitcoin Recover as Global M2 Hit $107T?

Supporting the chances of a bullish recovery, global M2 liquidity has risen to $107.741 trillion. According to ZeroHedge, the Bitcoin-to-global M2 liquidity (with a 3-month lead) trend shows striking similarities.

Currently, the pullback in Bitcoin is mirroring the decline seen in global M2 liquidity, which is likely to stabilize around the $80,000 mark. As global M2 liquidity recovers, Bitcoin could bounce back as investors gravitate toward volatile assets like BTC.

In conclusion, bears currently dominate the short-term trend in Bitcoin, making a retest of the $75K level likely. However, historical price trends and the increasing global M2 liquidity suggest a potential recovery in the mid-term.

Bitcoin Rebound Coming in Second Half of March? Why Santiment Thinks So

Okoya David
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Bitcoin Rebound Coming in Second Half of March? Why Santiment Thinks So

Santiment Feed suggests Bitcoin can cancel out this rough start to March 2025.

February 2025 was Bitcoin‘s worst month in the past two and a half years, and the asset has struggled unsuccessfully to shake these blues in March 2025. But better days may be ahead, at least according to one leading crypto analytics provider.

Second Half of March to be Better?

After an initial push to $95,000 at the beginning of March on U.S. crypto reserve speculation, Bitcoin is back near its February 2025 lows, currently trading around $81,600.

However, crypto analytics provider Santiment Feed suggests that the leading digital asset could cancel out this rough start with a better showing in the second half of the month.

Santiment’s view is rooted in the behavior of Bitcoin sharks and whales. Bitcoin sharks are investors with holdings between 100 BTC and 1,000 BTC. However, whales have holdings above 1,000 BTC.

In an X post on Monday, March 10, the analytics provider revealed that these investors were again accumulating the asset, hinting at a potential rebound in the second half of the month. Specifically, the platform highlighted that they had added 5,000 BTC to their holdings since March 3.

Bitcoin sharks and whales accumulating | Santiment Feed
Bitcoin sharks and whales accumulating | Santiment Feed

The view that this accumulation could influence market performance comes due to the market moving capital these investors control. Indeed, Santiment partly attributes Bitcoin’s recent decline to these investors selling.

Meanwhile, Bitcoin sharks and whales are not the only investor classes to show a bullish shift recently. On Sunday, March 9, prominent analyst Axel Adler Jr. disclosed that long-term holders have shifted from distribution to low accumulation.

“This reduction in supply typically precedes stabilization and a new market cycle, representing a potentially positive market signal,” he wrote.

$95K the Level to Watch?

One thing Bitcoin investors could look for as confirmation of a possible reversal is a break above $95,000.

The price level aligns with the high of a bearish continuation pennant pattern on the daily candlestick chart, recently highlighted by veteran commodities trader Peter Brandt.

Interestingly, Standard Chartered Head of Digital Assets Research Geoffrey Kendrick argued on Friday, March 7, that Bitcoin could break above $95,000 soon “if the tariff noise can slow down for a while.”

Dogecoin Crashes 30% in a Week: Will It Plunge to $0.1315?

Albert Brown
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Dogecoin Crashes 30% in a Week: Will It Plunge to $0.1315?

Dogecoin price falling under $0.20 leads to a falling wedge breakdown. Will this plunge DOGE price to $0.1315?

The market capitalization of crypto meme coins is down by 7.71% to $47.53 billion. Dogecoin, the biggest meme coin, has taken a hit of 9.17%.

In the past week, Dogecoin witnessed a pullback of 30%, dropping its 7-day low price to $0.1643. Currently, Dogecoin struggles to find support after the recent bearish engulfing candle. 

Dogecoin Breaks Under A Falling Wedge Pattern

In the daily chart, the DOGE price action reveals a breakdown of a falling wedge pattern. This breakdown comes with a 12% drop on Sunday, creating a bearish engulfing candle. 

CRYPTO:DOGEUSD Chart Image by Trojan69420

With the 4th consecutive bearish candle, Dogecoin tested the 38.20% Fibonacci level at $0.1675. Currently, Dogecoin reveals a minor intraday recovery of 2.64%, retesting the broken support trendline. 

However, it also showcases bullish support at the 38.20% Fibonacci level. With the declining Dogecoin prices, the daily RSI line is down to the oversold boundary level. 

Furthermore, the MACD and signal lines give a negative crossover with the resurgence of bearish histograms. Hence, the technical indicators reflect a significant bullish weakness in the DOGE price trend. 

Amid the recent downfall in Dogecoin prices, whales are taking a strategic exit. As per a recent update from Whale Alert, an entity has transferred 360 million DOGE tokens worth $62.66 million to Binance. 

Dogecoin (DOGE) Price Targets

The breakdown of the falling wedge pattern warns of an intense pullback. Based on the Fibonacci levels, a closing under the 38.20% Fibonacci level at $0.1675 could ignite the next stage of correction. 

In such a case, the DOGE price could test the 23.60% level at $0.13154. This warns of a potential downside risk of nearly 24%. On a bullish front, a sustenance above the broken support trendline will increase the chances of a quick retest of the 50% level at the $0.20 psychological mark.

Ripple CTO Clarifies No New XRP Can Be Created as No XRPL Code Permits This

Elendu Benedict
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Ripple CTO Clarifies No New XRP Can Be Created as No XRPL Code Permits This

Following a heated community conversation, David Schwartz has clarified that no code in the XRP Ledger allows the creation of new XRP tokens.

The rumors of creating new XRP tokens on the XRP Ledger have resurfaced despite earlier clarifications. A Bitcoin maxi, Pierre Rochard, regurgitated the conversation in a recent X post, sparking a heated debate with XRP community members.

Rochard argued that Ripple could add to the finite 100 billion XRP total supply by minting new tokens. However, this narrative drew the attention of Ripple’s chief technology officer, David Schwartz, who squashed the sentiment.

New XRP Tokens Not Feasible

Schwartz responded to Rochard’s assertions in clear words, stressing that minting new XRP tokens was impossible. He clarified that no code or function in the XRP Ledger allows for the course to take effect.

Furthermore, the CTO highlighted that the blockchain has node-enforced rules prohibiting the creation of new XRP. His emphasis points to the sophisticated invariant checking system on the XRP Ledger that determines whether any transaction created new tokens on the network.

Further, Vet, an XRPL dUNL validator, further supported this narrative. He shared that 100 billion XRP was created on the genesis block in 2012, and the network’s developers obliterated any probable function that would allow an addition to this supply.

The validator stressed that no bug attack could create new XRP tokens on the network. This is because the invariant checker incessantly monitors any function that permits token minting and immediately blocks them.

As a result, not even Ripple can mint new tokens on the XRPL. Vet noted that the XRP Ledger’s administrators, validators, and users must obey the blockchain rules.

More Clarity on XRP’s 100B Supply

Meanwhile, Schwartz further clarified an assumption that more than 100 billion XRP could be in circulation. For perspective, a user argued that the reconstruction of the ledger genesis to 32,570 could mean that the removed wallets might contain some XRP that are unaccounted for.

However, Schwartz stated that it was unimportant to calculate the balance of all wallets in the genesis ledger 32,570 at the time to ascertain if exactly 100 billion XRP existed. However, the ledger shows that the 136 wallets held that exact amount.

Furthermore, senior software engineer at RippleX Mayukha Vadari stated that there was no way more XRP could be in circulation as the Ledger approves the balance of an account in the blockchain. Hence, if a wallet claims to have more than the public ledger says it has, validators will reject any transaction that makes that claim true.

Top Analyst Says Shiba Inu Is a Good Buy Now, with Bullish Targets Extending to $0.00007380

Albert Brown
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Top Analyst Says Shiba Inu Is a Good Buy Now, with Bullish Targets Extending to $0.00007380

Analysts are monitoring key Shiba Inu support as a potential buying zone, with bullish price targets extending to $0.00007380.

Shiba Inu (SHIB) remains under selling pressure as its price continues to decline, extending recent losses. Over the past 24 hours, SHIB has fallen by 2.2%, adding to its seven-day decline of 13.7%. 

The token has also dropped 18.1% in the last 14 days and 19.7% over the past month. SHIB’s long-term performance shows a 64.9% decline over the past year, signaling persistent bearish sentiment.

Shiba Inu Is a Good Buy Now

Currently, Shiba Inu is trading around $0.00001231, following a drop to $0.00001155, where it found temporary support before rebounding. The price action reflects broader market weakness, with SHIB struggling to maintain upward momentum.

Notably, according to an analytic account on TradingView, The Hunters_Company, SHIB had been trading within a falling wedge pattern, a bullish reversal structure. Shiba Inu broke out of this pattern in early 2024, leading to a strong upward move.

However, the price has since corrected back to key support levels. Now, the analyst argued that Shiba Inu has entered a significant buying opportunity zone at current levels.

Shiba Inu Support & Resistance
Shiba Inu Support & Resistance

Resistance Levels and Shiba Inu Price Targets

Notably, SHIB faces multiple resistance levels that could define its price trajectory. The first major resistance is at $0.00001693. A breakout above this level would indicate growing bullish momentum. 

Further resistance is at $0.00002485, marking a crucial mid-term level. If SHIB surpasses this resistance, it could move toward $0.00004022, a previous high. The long-term target based on Fibonacci projections stands at $0.00007380.

Elsewhere, historical trends shared by Ali Martinez on March 7 highlight a significant rally in November when SHIB surged past $0.000032 before experiencing a correction. Martinez suggests that maintaining the current support zone could enable a recovery toward $0.000020 in the short term.

Market Outlook and Shibarium’s Role

On the fundamental end, crypto educator Davinci Jeremie has weighed in on SHIB’s market potential, noting that the token could see strong performance this cycle. However, he cautioned that it may not experience the dramatic gains some investors expect.

According to Jeremie, SHIB’s ecosystem has gained utility with the introduction of Shibarium, a layer-2 network designed to offer low-cost transactions.

Despite its technical advantages, he pointed out that Shibarium lacks real-world applications that drive SHIB adoption. If the development team attracts more practical use cases that rely on SHIB for transactions, the token’s price could see substantial gains in the future.

Binance CZ Shares Unpopular Opinion on Building Wealth in Crypto

Lele Jima
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0
Binance CZ Shares Unpopular Opinion on Building Wealth in Crypto

Changpeng Zhao (CZ), founder and former CEO of Binance, shares a financial tip on how crypto investors can build wealth. 

According to an X post yesterday, the Binance founder criticized the focus on short-term gains in crypto. He emphasized that many investors have spent huge amounts of money searching for small and quick profits. 

Notably, investors who utilize this strategy are often referred to as ‘degen.’ The search for quick gains drives them to invest in anything that looks promising. However, they completely ignore the risks associated with the tactic, which sometimes lead to substantial losses. 

CZ Tips for Wealth Building 

According to CZ, crypto investors should focus more on ethical teams that are committed to developing long-term utility projects. Ethical teams are more likely to focus on sustainability, innovation, and real-world impact over short-term hype.

Interestingly, CZ has always been an advocate of teams building long-term innovative solutions. Last year, he encouraged the broader crypto community to prioritize developing practical blockchain applications instead of meme-related projects. 

In his recent tweet, the Binance founder emphasized that ‘big money is built slowly with stamina.’ This underscores the importance of patience, persistent effort, and long-term strategy in wealth-building, particularly in the crypto market. 

CZ on wealth building
CZ on wealth building

His commentary suggests that investors should prioritize fundamentally strong assets developed by ethical teams instead of chasing small and quick profits. 

In 2023, the Binance founder asserted that gains accumulated over the long term are much greater than short-term gains.

Total Crypto Daily Liquidation Nears $630M 

CZ’s recent advice comes as the market continues to experience significant downturns. Notably, the price of Bitcoin crashed from a 24-hour high of $86,000 to $80,052, marking a 6.91% decline. This dip, which had a ripple effect across the broader crypto market, left many short-term traders with huge losses. 

Data from Coinglass show that $628.86 million has been liquidated from the market over the past 24 hours. While long positions account for $534.70 million, short positions registered $94.16 million in liquidations. 

Despite the increased volatility in the market, most investors holding utility tokens are optimistic about making substantial returns on their investments in the long term. 

Here is The Price Level XRP Needs To Hold to Secure Rally Toward $5

Sam Wisdom Raphael
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Here is The Price Level XRP Needs To Hold to Secure Rally Toward $5

Market analyst Ali Martinez believes XRP could rise to a new all-time high if it avoids closing below a major technical formation.

His recent analysis comes as XRP has slipped into a potentially bearish phase in the short-term. For context, XRP has recorded three bearish candle closes since March 7, dropping by a substantial 18.84% within this period, as it now trades at the lower end of the $2 price mark. 

XRP Forms Bearish Head and Shoulders Pattern

Amid this price performance, Martinez confirmed that XRP has formed a bearish head-and-shoulders pattern on the daily timeframe. For context, the Head and Shoulders structure is a trend reversal pattern with three peaks: a higher middle peak (head) between two lower ones (shoulders).

Particularly, XRP formed the left shoulder when it soared to a peak of $2.9 in December 2024 amid the uptrend that began on the back of Donald Trump’s election victory. However, the asset witnessed a roadblock at this top, eventually facing a pullback toward the neckline at $2.

XRP Head and Shoulders Pattern Ali Martinez
XRP Head and Shoulders Pattern | Ali Martinez

Nonetheless, the bulls formed massive support at the neckline, eventually recovering to hit $3.4 in January 2025. This higher high formed the head of the pattern. After another pullback and a subsequent recovery, XRP rose to $3 earlier this month on the back of the crypto reserve announcement, forming the right shoulder.

With the neckline at $2, Martinez confirmed that this level is very important for XRP’s future trajectory. Currently, the bearish pressure is pushing the asset toward the neckline. Notably, if XRP breaches below the neckline, this would validate the head and shoulders pattern, leading to steeper price declines.

Potential Rally to $5

However, if the asset retests this neckline and stages a recovery effort, the rebound could lead to greater heights. According to Martinez, XRP has the potential to reach the $5 price mark, representing a new all-time high. For this to occur, the asset must break above the right shoulder at $3 after retesting the neckline and recovering from the downtrend.

Meanwhile, another market watcher CryptoLax confirmed that XRP has held up better than other altcoins amid the ongoing downtrend. For instance, XRP is still up 2.78% this year despite the downturn. However, Ethereum (ETH) is down 38% within the same timeframe, and Solana (SOL) has collapsed 33%.

XRP 1D Chart CryptoLax
XRP 1D Chart | CryptoLax

According to CryptoLax, the 200-day Exponential Moving Average (EMA) currently at $1.85 is a point of interest for XRP. Notably, should the asset continue to fall, this level would serve as a major support. Currently, XRP changes hands at $2.14 at press time, up 0.27% on the day.

Ethereum Price May Be Heading Toward $1,897: Here’s Why

Albert Brown
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Ethereum Price May Be Heading Toward $1,897: Here’s Why

Ethereum warns of a potential downfall to $1,897 as sellers are on the verge of breaching the $2,000 bullish support.

As Bitcoin dropped to nearly $80,000, Ethereum is back to retest its $2,000 psychological support. With a 24-hour low at $1,988, Ethereum is fluctuating close to the $2,000 mark. 

Currently, Ethereum trades at a market price of $2,062 with an intraday recovery of 2.12%. Will this short-term intraday recovery help Ethereum overcome the recent 8% crash? Let’s find out.

Ethereum Targets $1,897 After 20% Drop Last Week

Amid the recent market crash, liquidations in Ethereum long positions have risen to $230 million. This massive pullback has shaken out multiple over-leveraged traders. 

Image

Currently, Ethereum is struggling to find support near the $2,000 psychological level. The falling Ethereum price has registered a nearly 20% drop from last week. It builds upon a 10% pullback the week before.

Amid the intense pullback, Ethereum has breached the 61.80% Fibonacci level at $2,235. After a retest, the Ethereum price is now hinting at a potential retest of the 78.60% level at $1,897.

Dogecoin Price Chart

Dogecoin Price ChartAs ETH prices hover near $2,000, momentum indicators show minimal chances of a bullish recovery. The MACD and signal lines are trending negatively, but the declining bearish histograms suggest a potential bullish crossover.

Furthermore, the daily RSI line indicates a bullish turnaround as it fluctuates near the oversold boundary, highlighting a bullish divergence.

ETH Price Target

Based on the Fibonacci levels, a closing below the 78.60% level could bring Ethereum down to the $1,540 mark. However, a crucial horizontal support level at $1,750 may provide early support.

On the bullish side, the 61.80% Fibonacci level at $2,235 serves as the immediate critical resistance.

Will Ethereum Bounce Back as Reserve on Exchanges Decline?

During the recent Ethereum crash, Ali Martinez highlighted significant outflows from crypto exchanges. In a recent X post, the analyst noted that over 600,000 ETH had left the exchanges.

This reduced the Ethereum exchange reserve from 19.20 million ETH to 18.60 million ETH. The declining exchange reserve points to a short-term decrease in ETH supply, which could help limit the downside and fuel the next recovery rally.

 

Expert Predicts UAE Will Launch a Shiba Inu Reserve

Lele Jima
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Expert Predicts UAE Will Launch a Shiba Inu Reserve

Renowned crypto expert Del Crxpto predicts that the UAE government will soon launch a strategic digital asset reserve that will feature Shiba Inu (SHIB). 

Following the launch of a crypto reserve in the United States, speculation suggests that other nations will also introduce a similar initiative. 

Last week, the U.S. launched a Bitcoin-only reserve and a digital asset stockpile for altcoins like XRP and Cardano. The government will fund the reserve using crypto assets from criminal and civil-related forfeitures. Since the announcement, speculations suggest that other top nations will follow suit. 

UAE to Launch Shiba Inu Reserve 

In a recent X post, pseudonymous crypto expert Del Crxpto forecasted that the United Arab Emirates (UAE) will launch a crypto reserve. According to the expert, this reserve will hold a substantial amount of Shiba Inu. 

However, Del Crxpto did not highlight a possible timeline for this prediction to materialize or outline any factor behind the forecast. Notably, this suggestion has been making the rounds within the Shiba Inu community lately. 

It bears mentioning that Shiba Inu has a cordial relationship with the UAE government. As previously reported, the UAE partnered with Shiba Inu in February to leverage the cryptocurrency’s Web3 technology–ShibOS–to enhance its governance and public services. 

The initiative marks the UAE’s first adoption of blockchain at the federal level. Interestingly, the government opted for Shiba Inu’s ShibOS over other technology introduced by established crypto projects. 

With the UAE confident in Shiba Inu’s proficiency over established projects, many experts, like Del Crxpto, believe the government will feature SHIB in a crypto reserve should it launch one. 

Is UAE Considering Launching a Crypto Reserve? 

Despite growing speculation that the UAE is considering establishing a crypto reserve, the government has not issued a statement confirming the rumor. The UAE is known for its forward-thinking approach to finance and technology, which has paved the way for its pro-crypto stance. 

It is actively making efforts to position itself as the global leader of the crypto industry–a role the U.S. plans to assume through its crypto reserve initiative and an upcoming federal regulatory framework for crypto. 

Unlike the U.S., the UAE has clear crypto regulations, including Dubai’s Virtual Asset Regulatory Authority (VARA). Despite this, it remains unclear whether the UAE will launch a crypto reserve, let alone one that will hold Shiba Inu. 

Trump-backed WLFI Sees $110M Crypto Loss Amid Dip

Albert Brown
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Trump-backed WLFI Sees $110M Crypto Loss Amid Dip

The total loss from the Trump-backed World Liberty Financial Initiative (WLFI) has reached $110 million. 

The project initially allocated $336 million to purchase nine crypto assets, which have now dropped in value to $226 million. Ethereum (ETH) makes up 65% of the holdings and is also the asset with the largest recorded loss.

WLFI acquired Ethereum at an average price of $3,240 per token, but the current price is at approximately $2,059. This decline has significantly impacted the portfolio, with ETH contributing significantly to the overall devaluation. Other assets in the WLFI portfolio have also suffered losses, further compounding the financial setback.

Breakdown of WLFI’s Holdings

An analysis of one of WLFI’s crypto wallets shows that it has 7,516 ETH valued at $15.53 million, marking a 5.3% decline over the past day. This wallet holds 13.59 million USDT, which has remained stable. Meanwhile, this address also holds 162.69 Wrapped Bitcoin (WBTC), currently valued at $13.36 million, reflecting a 4.11% drop.

WLFI Crypto Holdings
WLFI Crypto Holdings

Additional notable assets include 4,974 staked ETH (STETH) valued at $10.27 million, down by 5.43%. Tron (TRX) accounts for 40.718 million tokens, valued at $9.54 million, after dropping 2.95%. Another significant asset is 10 billion WHITE tokens, worth $5.99 million, which have recorded the largest drop of 24.17%.

Further stablecoin holdings include 5.013 million AETHUSDC, whose value has remained unchanged. The portfolio also includes 7.581 million MOVE tokens, which have declined by 6.6%, bringing their total value to $3.54 million.

WLFI’s Buying Strategy and Absence of XRP

Notably, the recent downturn follows a major buying spree by WLFI on January 20, 2025, coinciding with President Donald Trump’s inauguration. The initiative acquired over $100 million in assets, including 14,403 ETH at $3,333 per token and 94.94 WBTC for $9.84 million. Other acquisitions included 177,928 LINK worth $4.7 million and 13,261 AAVE for an equivalent amount.

Previously, WLFI had accumulated 2,631 ETH in December 2024 for $10 million at an average price of $3,801 per token. The initiative also acquired 41,335 LINK tokens valued at $1 million during the same period. However, despite these acquisitions, WLFI has notably excluded XRP, the third-largest crypto by market capitalization.

Speculation has emerged regarding a possible shift in the U.S. government’s approach toward XRP. Observers have noted that if the Trump administration intervenes in the Ripple XRP escrow, it could eliminate the need for WLFI to acquire XRP from the open market.

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