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The Bitcoin price has slumped 0.6% in the last 24 hours to trade at $83,091 as of 3:50 a.m. EST on a 2.8% drop in trading volume to $24.2 billion.
The slump in the BTC price comes as US spot Bitcoin ETFs record their largest daily net inflows in six weeks, totaling $274.59 million.
BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have been the top performers, consistently attracting substantial capital since their launch in January 2024.
U.S. spot Bitcoin ETFs recorded a $274.6M daily inflow, the biggest since February, indicating renewed institutional interest as Bitcoin stabilizes around the $83,000 mark.#Bitcoin #ETFs pic.twitter.com/0JqdblVSpu
— Crypto India Magazine | Web3 News (@CryptoIndiaMag) March 18, 2025
At the same time, outflows from Grayscale’s Bitcoin Trust (GBTC), which had previously pressured the market, have been slowing. “The tide is turning,” said Matteo Greco, a research analyst at Fineqia International. “With reduced selling pressure from GBTC and steady inflows into newer ETFs, Bitcoin is gaining momentum.”
Bitcoin Price Outlook Signals Positive Trend Change
Bitcoin (BTC) remains in a strong uptrend despite a recent pullback to a crucial Fibonacci retracement level. The price is currently at $83,098, with strong support at $75,840, which aligns with the 0.618 Fibonacci retracement level shown on the chart. This level has historically acted as a strong support zone, and BTC’s ability to hold above it will be key in determining the next price movement.
On the upside, Bitcoin faces resistance at $88,771, which corresponds to the 0.382 Fibonacci retracement level. A successful breakout above this level could pave the way for a retest of $109,396, marking the previous high. If bullish momentum continues, BTC could potentially reach $143,729, based on Fibonacci extension targets. However, failure to break through resistance may result in consolidation or a retest of lower support levels.
The 50-day Simple Moving Average (SMA), shown as the green line on the chart, is currently acting as dynamic support at $75,840, helping to prevent further downside movement. Meanwhile, the 200-day SMA (blue line) remains much lower, confirming that BTC is still in a long-term bullish trend.
BTCUSD Analysis Source: Tradingview
The Relative Strength Index (RSI) is at 47, indicating a cooling-off period rather than an overbought or oversold condition. Historically, BTC has rebounded from similar RSI levels, as highlighted on the chart. A bounce from here could trigger another bullish rally.
If BTC maintains support above $75,840, it could initiate a fresh uptrend toward $88,771 and potentially $109,396. A breakout above this range would confirm a continuation of the bullish trend, with $143,729 as the next target.
Conversely, if the price breaks below $80,510, it may indicate market weakness, pushing BTC toward $75,840 or even $66,568, where the 0.786 Fibonacci retracement level lies. A deeper correction could see BTC revisiting $54,807, though such a scenario would likely require a broader market downturn.
BTC Bull Token Presale Heads For $4 Million – The Next Crypto To Explode?
As the Bitcoin price gears up for another bullish rally to new highs, BTC Bull Token (BTCBULL) is carving a niche in the crypto landscape by tethering its ecosystem to Bitcoin’s price performance, offering a fresh twist for investors eager to ride the next bull run.
The project has raised over $3.76 million in its presale, reflecting strong early interest. BTC Bull Token’s structure is designed to reward holders as Bitcoin scales to new heights, positioning itself as a standout meme coin with real utility.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
The token’s appeal lies in its milestone-driven rewards system. When Bitcoin hits $125,000, BTCBULL triggers a token burn to reduce supply and potentially boost value. At $150,000, holders receive a Bitcoin airdrop, with further burns and airdrops planned at $175,000 and $200,000, respectively, culminating in a massive BTCBULL airdrop when Bitcoin reaches $250,000.
To qualify for airdrops, tokens must be held in Best Wallet, a partner platform that simplifies participation. Hence, timing is key. Joining the presale now could unlock significant rewards as the Bitcoin price charges toward new peaks.
ClayBro, a prominent YouTuber with over 136K subscribers, says BTCBULL could rally exponentially after its launch.
BTCBULL’s presale is also paired with a staking option boasting a 113% annual yield.
The token is currently priced at $0.002415 and can be bought with crypto or bank cards.
With a price hike due in less than 24 hours, right now would be the best time to buy to lock in the best deal.
Visit the official BTC Bull Token website.
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