As March draws to a close, Bitcoin sits above $85,000 — a level now acting as a psychological pivot. But beneath the surface, 5 million BTC could be at risk if support cracks.
🟧 Why This Level Matters
Bitcoin’s weekly close above $85K is more than just a number — it’s a signal. Analysts from Bitget and independent traders say it could confirm bullish continuation if maintained. Lose this zone, and the next target could be as low as $76K.
Technical indicators such as RSI are beginning to flash optimistic signs. Analyst Matthew Hyland noted the formation of a rare weekly bullish RSI divergence, something not seen since September 2024.
💣 The Liquidity Trap Below
Despite recent strength, traders warn of lurking liquidation zones. The $81K–$82.7K area holds large stop-loss clusters, and some believe a price sweep to flush longs isn’t off the table. CrypNuevo suggests that “as long as $77K holds, bulls remain in control.”
🟠 Saylor’s “Orange Signal” Returns
Michael Saylor and Strategy have been quiet recently — but that silence might be ending. A cryptic tweet from Saylor saying “needs more orange” could hint at another major BTC buy. The firm already holds nearly half a million BTC, sitting on unrealized gains over $9.3B.
📊 On-Chain HODLers Show Strength
According to Glassnode, long-term holders (LTHs) have added 250,000+ BTC since mid-February. Now, 13.3M BTC are held by long-term investors — a level historically associated with macro bottoms or early bull stages.
Brickken analyst Enmanuel Cardozo sees this accumulation as a key indicator: “Ignore the noise. Watch the hands that don’t flinch.”
📉 Meanwhile, Crypto Stocks Bleed
Even as BTC holds its ground, publicly traded crypto firms are sliding. Coinbase, Strategy, and Robinhood have collectively lost billions in market cap since late 2024. Mining companies like Marathon and Riot are also under pressure as margins shrink.
📌 Bottom Line:
Bitcoin’s structure looks solid — for now. A close above $85K adds weight to the bullish case, especially with Saylor possibly stepping back in, RSI flashing reversals, and whales holding strong. But the $77K level is the last stand. If it breaks, brace for volatility.
💡 If you’re thinking of positioning ahead of Q2, this may be a time for patience or strategy reassessment.
This content is for informational purposes only and does not constitute investment advice. Always do your own research.
