Bitcoin prices have jumped to $85,020 in the last 24 hours, marking a 1.2% increase that reverses some of the recent downward momentum. The cryptocurrency is now testing a key resistance level that dates back to its January peak of $110,000, according to market analysts.<\/p>\n
While Bitcoin<\/a> still shows a 3.4% drop over the past week and a 9.5% decline over the last month, signs of recovery are emerging. Technical analysts have spotted a strong one-day price candle that has completely erased the losses from the previous three days.<\/p>\n The Relative Strength Index (RSI), a popular momentum indicator, has bounced off its support line. This technical signal often suggests building momentum for an upward price movement.<\/p>\n According to reports from TradingView analysts<\/a>, Bitcoin faces its most significant challenge at the falling trend line that began on January 20. This resistance coincides with the 50-day moving average, and Bitcoin has already tested this level four times previously.<\/p>\n\n Market watchers eye a target just below $100,000 if Bitcoin can break its current wall. This goal sits near the top of February\u2019s barrier zone and matches the 2.0 Fibonacci extension level, a key mark used by traders.<\/p>\n A breakthrough could signal a move toward a long-term bullish trend for the cryptocurrency, which has faced big hurdles in recent weeks.<\/p>\n The fifth test of this resistance level could prove decisive for Bitcoin\u2019s near-term price direction. Traders are watching closely to see if this attempt will be successful where previous ones have failed.<\/p>\n Large Holders Show Growing Confidence In Bitcoin<\/p>\n According to figures supplied by Santiment<\/a>, the wallets holding between 1,000 and 10,000 Bitcoins increased to 1,993 by March 31. It is the biggest since December of 2024 and a rise by 2.5% within a five-week period when 50 large wallets joined the market.<\/p>\n Bitcoin\u2019s market value has fluctuated between $81K to $84K Monday. And while prices continue ranging as March draws to a close, whale wallets (specifically 1K-10K $BTC<\/a> holders) continue growing in number.<\/p>\n There are now 1,993 #Bitcoin<\/a> wallets of this size, which is the highest\u2026 pic.twitter.com\/iVYj9XdxAj<\/a><\/p>\n \u2014 Santiment (@santimentfeed) March 31, 2025<\/a><\/p>\n\n This accumulation pattern by large holders tends to decrease the supply of Bitcoin in circulation. When demand stays constant or increases while supply decreases, prices tend to go up.<\/p>\n Exchange Outflows Signal Short-Term Bullish Outlook<\/p>\n$100,000 Target Within Reach If Resistance Breaks<\/h2>\n