Published: Mar 14, 2025 at 03:45 AM
Updated: Mar 14, 2025 at 12:01 AM
- Bitcoin faces bearish pressure, with traders eyeing $72K–$74K as the next target after resistance in the $86K–$88K zone.
- Market sentiment remains bearish, with no clear reversal signals; short traders are reinforcing positions amid continued downward pressure.
- Bitcoin’s reaction to Trump’s terms varied—volatile in the first, steady gains in the second, reflecting shifting investor sentiment.
Prominent analyst Doctor Profit has reaffirmed his bearish stance on Bitcoin, placing short orders within the $87K–$88K range. The market previously hit two of his targets at $83K and $78K. Now, the next target sits between $72K and $74K, reinforcing the prevailing bearish sentiment.
Source: Doctor Profit
Bitcoin initially traded near $90K before experiencing a sharp decline. This movement confirmed bearish momentum, with lower highs and lower lows defining the trend. A minor recovery emerged around the $83K mark, but it faced resistance within the critical $86K–$88K zone. This area now serves as a prime opportunity for traders to reinforce short positions.
The market sentiment remains bearish due to sustained downward pressure. Additionally, no significant bullish reversal patterns are visible. If Bitcoin revisits the shorting zone, it could signal another drop towards the anticipated $72K–$74K range. Traders are keenly watching for further confirmations before executing additional trades.
During Donald Trump’s presidency, Bitcoin’s performance has displayed divergent patterns. Bitcoin first rose 23.2% in 50 days during his first tenure. But a steep correction ensued, which led to a 13.5% drop. Price levels had a difficult time regaining momentum throughout the slow recovery phase.
Source: CryptoRank
On the other hand, there was a robust and consistent rally during Trump’s second term. The price of Bitcoin steadily increased, rising 56.8% on day 100. The volatility seen throughout the first term was in stark contrast to this bullish run. The discrepancy shows how market circumstances and investor sentiment changed throughout the two time periods.
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