Bitcoin may be in for a tougher climb toward $94,000 following a recent unsuccessful push to reclaim that price level, according to analysts at Bitfinex.
In their 3 March 2025 market update, the exchange’s researchers noted that “any recovery” toward $94,000 could confront “significant resistance.” The warning comes after Bitcoin fell below the $94,000 threshold on 2 March 2025. Since then, BTC has yet to mount a convincing rebound.
The analysts tied their forecast to heightened volatility triggered by US President Donald Trump’s pledge to build a crypto reserve. This announcement sent Bitcoin soaring 12% from $85,000 to $95,000 rapidly.
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Bitcoin’s Momentum Reversed Amid Strong Selling Pressure
However, that momentum was soon reversed amid strong selling pressure on spot markets. Most of the gains were erased. This kept the world’s largest cryptocurrency at roughly $87,190, based on CoinMarketCap data. Now, an 8% jump would be required to return to $94,000 territory.
Market sentiment remains murky. Crypto observers are divided on whether the recent dip marks a continuation of a downtrend or the start of a new leg upward.
On 4 March 2025, the popular trader known as Rekt Capital suggested in a social media post that while “history suggests the bottom may very well be in,” more downside is still plausible. Rekt Capital also warned that even if Bitcoin stabilizes around $93,500 in the short run, it might still slip below that level again.
Bitcoin performed a remarkable technical feat to perform such an outsized downside deviation but still Weekly Close inside its ReAccumulation range
In fact, history suggests the bottom may very well be in on this downside deviation
Going forward, Bitcoin will try to… https://t.co/r5reRJ0HFy pic.twitter.com/VdgglAm2O3
— Rekt Capital (@rektcapital) March 3, 2025
Furthermore, crypto analyst Axel Adler highlighted the significance of buyers stepping in when Bitcoin briefly touched $81,000, viewing it as a “good sign.”
Another well-known voice, MN Trading founder Michaël van de Poppe, cautioned that critical macroeconomic data could influence Bitcoin’s direction. He specifically pointed to the US Consumer Price Index (CPI) slated for release on March 12.
The next Federal Reserve decision on interest rates, set for March 19, is also expected to play a major role in shaping sentiment.
Basically, #Bitcoin rejected at the resistance at $95K and is back chopping around.
All liquidity on both sides have been taken.
What to expect?
Honestly, I think we’ll need to wait until this week is over as there’s a lot of macro-economic data & events and the Summit. pic.twitter.com/j6ZolJgfvg
— Michaël van de Poppe (@CryptoMichNL) March 4, 2025
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Volatility Will Persist Until Genuine Buyers Enter Market
Kyle Chasse, who heads Master Ventures, recently remarked that volatility will persist until “genuine buyers” commit to positions rather than short-term traders looking for arbitrage.
Meanwhile, analysts at Time To Trade recently noted that if Bitcoin sustains its position above $86,700 and volume picks up, the next wave of buying could push BTC toward the $90,000 mark.
A clean break above that psychologically important level might trigger further enthusiasm, paving a path to test $92,000. Should the market display robust buying pressure around $90K, the $92K barrier might be tested more quickly than many anticipate.
Reflecting continued trepidation among investors, the Crypto Fear & Greed Index currently stands at 20—firmly in the “Extreme Fear” zone where it has lingered since late February.
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Key Takeaways
- Bitcoin faces significant resistance near $94,000, with analysts predicting a tougher climb ahead.
- Market volatility is expected to persist, influenced by major macroeconomic events and investor sentiment.
- Genuine buyers, rather than short-term traders, are needed to stabilize the market and drive Bitcoin’s recovery.
The post Bitcoin Faces Resistance at $94K After Failed Breakout, Says Bitfinex appeared first on 99Bitcoins.