Bitcoin (BTC) is approaching a potential trendline breakout, with long-term targets reaching $110K while potentially surge to $95,000.
Bitcoin is over $87,000, marking a bullish start to this week. Over the past 24 hours, major cryptocurrencies have skyrocketed by nearly 4%.
This bullish recovery has passed the 200-day EMA line and tested a long-standing line of resistance. Will this short-term recovery lead to a breakout rally pushing Bitcoin to a $95,000 level?
Bitcoin price analysis shows potential breakout rally first
Daily charts show the momentum that BTC price trends showcase the V-shaped inversion. Recovery runs that begin at the $76,600 mark from the recent fall amount accounts for almost 14% recovery.
According to Fibonacci levels, the recovery run recovered a Fibonacci level of 61.80% at $86,146. Currently, Bitcoin is trading in the $87,182 market, marking second consecutive bullish candles.
Amidst a positive trend, the daily RSI line shows a surge in bullish momentum as it resurfaces above the midline. Furthermore, the short-term recovery hints at a positive crossover between the recently converged 20-day and 200-day EMA lines.
However, the medium-term trend remains negative due to negative crossovers between the 50-day and 100-day EMA lines.
Arthur Hayes predicts Bitcoin will reach $110,000
Amid the continued recovery, Bitmex co-founder Arthur Hayes predicts Bitcoin will reach $110,000 before retesting key support at $76,500. Hayes anticipates this bullish rally. This is driven by a change in the Federal Reserve’s attitude from quantitative tolerance (QT) to quantitative easing (QE).
He ignores the ongoing tariff wars and calls them “temporary inflation” in the global market.
$btc reaches $110k to $110k and then reaches $76.5,000.
Y? The Fed is moving from QT to QE for the Treasury Department. Tariffs have no bearing on causing “temporary inflation.” Jaypo told me.
This is explained in the following essay. That’s your ticut peanut brain TLDR.
– Arthur Hayes (@cryptohayes) March 24, 2025
Metaplanet adds more BTC
Metaplanet, a Japanese strategy (formerly the micro strategy), recently added $12.6 million worth of Bitcoin to its holdings. The move follows Eric Trump’s appointment to the advisory board.
Metaplanet currently owns 3,350 btc, worth $291.3 million. With Bitcoin’s institutional support and favorable macroeconomic conditions, the upward trend could continue to gain momentum.
*Metaplanet got an additional 150$BTC and currently holds 3,350btc* pic.twitter.com/sakdkwhsqz
– Metaplanet Inc. (@metaplanet_jp) March 24, 2025
The market takes a hold
On the network side, Crypto analyst Ali Martinez points out a significant change in Bitcoin transfer volume. Over the past month, total travel has almost halved, down from $87 billion to $42 billion.
This significant drop in movement suggests that market sentiment has shifted to a retaining stance.
Bitcoin’s price target is $95,000 in the short term
Bitcoin’s direct price target is a Fibonacci level of 78.6%, close to $95,000, representing a potential rise of around 10%. On the downside, the key support level is marked at $85,000, close to the 200-day EMA line.
