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The Bitcoin price climbed 2% in the last 24 hours to trade at $81,555 as of 3 a.m. EST on trading volume that dropped 20% to $47.04 billion.
The BTC price recovery comes as US Senator Cynthia Lummis reintroduced the BITCOIN Act in Congress, which would allow Donald Trump’s Strategic Bitcoin Reserve to exceed 1 million BTC if it passes.
Proud to re-introduce the BITCOIN Act. Let’s secure America’s financial future.pic.twitter.com/jJFmMopP7h
— Senator Cynthia Lummis (@SenLummis) March 11, 2025
Later today, new CPI inflation data in the US will be closely watched by Bitcoin investors.
Lower-than-expected inflation will increase room for interest rate cuts and boost risk assets like BTC, while a higher reading may put further pressure on the market.
Attention will then turn to the Producer Price Index (PPI) report on Thursday.
Bitcoin Price Prediction
Bitcoin’s price recovery managed to push the coin back above the $80k range, but not without a struggle. The recent drop of the fear & greed index to the value of 15 — its lowest point since 2023 — brought a lot of concern to traders and investors.
The coin’s recovery is slow, and its Bollinger bands would quickly start narrowing soon after each small price boost, suggesting that the overall sentiment is still bearish. However, at the time of writing, the fear & greed index has started to recover, currently sitting at the value of 19.
Bitcoin’s Relative Strength Index (RSI) value is also showing signs of growth again. In the last two days, the RSI has seen numerous ups and downs as it fluctuated between the overbought zone and the oversold area. It was never particularly stable during this time, suggesting that traders are quite active with their buying and selling, reacting to regular market-impacting events and news.
Right now, the excitement surrounding the upcoming CPI and PPI reports is growing, and Bitcoin could see a price increase ahead of the releases, potentially surging further if the reports end up being beneficial.
Promising Alternative To Bitcoin
Amid uncertainty over the outlook for the Bitcoin price, investors might consider an alternative like BTC Bull Token (BTCBULL). This is a new meme coin whose ICO went live only about a month ago.
The project calls itself Bitcoin’s official meme coin, and apart from sharing the same branding, it also hopes to help Bitcoin grow.
BTC Bull Token’s mission is to help push Bitcoin past $1 million and it will reward its investors when BTC hits certain price milestones along the way.
BTCBULL will airdrop real Bitcoin to investors when the BTC price hits $150k, and thereafter for every $50k increase in the Bitcoin price.
The project also has a token-burning mechanism that is set to reduce circulating supply whenever Bitcoin’s price grows by $25k, starting when the BTC price hits $125k.
Influential YouTuber Danjo Capital Master, with over 834k subscribers, says BTCBULL has the potential to skyrocket 1000x after going live.
BTCBULL tokens are selling for $0.002405 right now. If you would like to join investors who have already socked more than $3.5 million into the project, buy before a price hike in about 1 day.
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