Bitcoin has entered a volatile phase following macroeconomic shifts tied to U.S. policy developments, sparking renewed debate among market analysts about whether the asset has truly found its footing. After a sharp rally in early 2025, BTC began a downward correction in late February, raising concerns about the sustainability of its bullish momentum.
As of now, Bitcoin is trading at approximately $83,369, showing a modest 1% gain over the past 24 hours. While this rebound offers temporary relief, the broader market remains cautious. The critical question on every investor’s mind is: Has Bitcoin truly bottomed out?
Key Resistance at $89,000: A Make-or-Break Level
According to Matthew Hyland, a well-followed cryptocurrency analyst with over 150,000 followers on X (formerly Twitter), the answer lies in a crucial price threshold: $89,000.
Hyland recently emphasized that for Bitcoin to confirm a sustainable bottom, it must close the weekly candle above $89,000. This level has served as a significant support zone since mid-November 2024 and became a psychological and technical pivot during the recent downturn.
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Bitcoin last touched $89,000 on **March 7, 2025**, before dropping sharply to a low of **$76,606** on March 11. Since then, price action has stabilized around the $80,000 mark—a sign of consolidation but not yet recovery.
“If BTC fails to reclaim and hold above $89,000,” Hyland warned, “we could see a retest of the **$69,000 to $74,000 range** in the coming weeks or months.” Such a move would effectively erase most of the gains made since former President Trump’s November 2024 election victory fueled optimism in crypto markets.
This scenario underscores the importance of weekly closing prices in technical analysis. A sustained break above key resistance isn’t just about momentum—it signals renewed institutional confidence and potential inflows.
Why Weekly Closures Matter
Weekly candles provide a clearer picture of long-term trends compared to daily or hourly data. A weekly close above $89,000 would invalidate bearish patterns and suggest that selling pressure has been absorbed. Conversely, failure to break this level may confirm that the correction is far from over.
Market watchers are now closely monitoring on-chain activity, derivatives positioning, and macro liquidity indicators to gauge whether buyers are accumulating or merely providing short-term stabilization.
Arthur Hayes: $70,000 Could Be the True Bottom
Another prominent voice in the crypto space, Arthur Hayes, co-founder of BitMEX, shares a similar outlook. In a recent post on March 11, 2025, Hayes suggested that Bitcoin could find its ultimate bottom near $70,000—a figure closely aligned with Hyland’s projected lower support zone.
Hayes views a drop to $70,000 as a healthy correction within an ongoing bull market. From the all-time high near **$110,000, such a decline represents roughly a 36% pullback**, well within historical norms for strong bull cycles.
“Be fucking patient. $BTC likely bottoms around $70k. 36% correction from $110k ATH, v normal for a bull market.”
Hayes outlined a broader macro-driven strategy: wait for traditional financial markets—particularly U.S. equities—to experience a "free fall," triggering insolvencies among major players. Only then would central banks like the Federal Reserve (Fed), People's Bank of China (PBOC), European Central Bank (ECB), and Bank of Japan (BOJ) likely respond with aggressive monetary easing.
Once that liquidity wave begins, Hayes advises going "all in." While traders might attempt to time the exact bottom, he recommends risk-averse investors wait for clear policy signals before increasing exposure.
“THEN we get Fed, PBOC, ECB, and BOJ all easing to make their nations great again. Then you can load up.”
His narrative reflects a long-standing belief in the cyclical nature of financial markets—where crypto thrives only after traditional systems face stress and central banks unleash stimulus.
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Core Keywords & Market Sentiment
To understand Bitcoin’s current trajectory, it’s essential to integrate key concepts that reflect both technical and macro drivers:
- Bitcoin price prediction
- BTC market correction
- Cryptocurrency resistance levels
- Bitcoin support zones
- Macro impact on crypto
- BTC weekly analysis
- Central bank policy and Bitcoin
- Crypto analyst outlook
These terms not only capture search intent but also reflect the multifaceted factors influencing investor decisions today.
FAQ: Addressing Investor Concerns
Q: Is Bitcoin currently in a bear market?
A: Not necessarily. While prices have corrected sharply from highs near $110,000, many analysts view this as a healthy consolidation within an existing bull cycle. A true bear market typically involves structural breakdowns and prolonged downtrends—neither of which have fully materialized yet.
Q: Why is $89,000 so important for Bitcoin?
A: That level has acted as both resistance and support since late 2024. A weekly close above it would confirm bullish continuation, while failure suggests sellers remain in control and further downside is possible.
Q: Could Bitcoin really fall to $70,000?
A: Yes—especially if broader financial markets weaken and central banks delay easing. Historical corrections of 30–40% are common in strong bull runs, making $70,000 a plausible, though not guaranteed, target.
Q: What should investors do now?
A: Maintain patience and assess risk tolerance. Aggressive traders might consider scaling in near support zones, while conservative investors may prefer waiting for confirmed macro shifts—like coordinated central bank action—before committing capital.
Q: How does U.S. policy affect Bitcoin?
A: Geopolitical and fiscal policies—such as tariffs or regulatory changes—can influence investor sentiment and liquidity flows. Recent volatility has been partly attributed to uncertainty around trade policies under the current administration.
Q: Are on-chain metrics showing accumulation?
A: Preliminary data suggests some whale accumulation during the dip below $77,000. However, sustained buying pressure will need to emerge across exchanges and institutional channels to confirm a reversal.
Strategic Outlook: Patience Over Panic
The current phase in Bitcoin’s journey is less about panic and more about positioning. Whether BTC breaks $89,000 or retests $70,000, the underlying narrative remains tied to macro liquidity.
Investors should focus on high-probability scenarios rather than short-term noise. Technical levels matter—but they gain meaning when combined with fundamental shifts in monetary policy and market structure.
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As history shows, some of the best entry points occur amid fear and uncertainty. By aligning strategy with both technical signals and macro catalysts, investors can navigate this volatile period with clarity and discipline.
In conclusion, Bitcoin’s path forward hinges on two forces: price action at critical junctures like $89,000 and the evolving response of global central banks. Until either confirms a new trend, caution—and careful observation—remains the wisest approach.