Bitcoin (BTC) Price Prediction for March 14

Bitcoin price faced a bullish pressure due to increasing buying pressure around current resistance levels. As a result, BTC price rises toward $85K and is aiming to extend its bullish rally. Over the past 24 hours, Bitcoin’s trading volume has dropped by more than 3.4%, totalling $31.46 billion.

In a broader perspective, Bitcoin fell below $100,000 on January 7 and showed a downward trend. It reached a low of approximately $89,397 on January 13. On Feb 3, Bitcoin again crashed and reached a low near $91K. In recent days, the price has been on a severe downtrend below $80K; however, it is aiming for a recovery. Over the last 24 hours, its total market capitalization surged by 5.1%, settling at $1.68 trillion.

Bitcoin Aims for a Hold Above $85K

Today, Bitcoin’s price neared $85K, driven by a positive CPI report and ease of geopolitical tensions. Notably, Ukraine agreed to a temporary 30-day ceasefire after discussions with U.S. officials, as reported by Bloomberg. This agreement has eased geopolitical tensions that have historically affected global markets. The reduced uncertainty surrounding the conflict has boosted investor confidence and brought a sense of stability to financial markets.

Furthermore, Ontario has removed a 25% tariff on electricity exports to Michigan, New York, and Minnesota. This decision has eased trade tensions and positively influenced overall market sentiment.

Recent data from Coinglass reveals that Bitcoin saw nearly $92 million in total liquidations over the last 24 hours, with buyers liquidating $30 million and sellers around $62 million, indicating a significant increase in short liquidations. Additionally, the open interest for Bitcoin has surged by 6.4%, touching over $49.8 billion in the last 24 hours. 

Additionally, Bitcoin’s long/short ratio has been surging as it now trades at 2.1. This shows that over 68% of total positions are expecting the BTC price to surge upward.

Bitcoin Price Prediction: Technical Analysis

Bitcoin is currently experiencing strong bullish momentum, aiming to securely surpass the $85K threshold. However, after reaching a high near $85,309, it faced slight resistance and dipped below $85K. Since then, Bitcoin has seen several rejections, with bears actively hindering any upward movement. Presently, Bitcoin is trading at $84,662, having risen by 5.2% in the last 24 hours.

Looking forward, the BTC/USDT pair is set to test a resistance zone extending up to $86.7K. With a surge in buying activity, supporters are poised to prevent any further declines. If Bitcoin manages to break through the $90K mark, it could set the stage for an advance towards $95,000. 

On the other hand, if Bitcoin fails to maintain interest around the $85K level, it could potentially retreat to as low as $81,290.

Bitcoin Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, BTC price might aim for $86.7K. If it surges above that level, we might see $90,000. On the other hand, $81,290 is the lower range.

Long-term: According to Coincodex’s Bitcoin price prediction, the price of Bitcoin is expected to increase by 33.97% and hit $111,607 by April 13, 2025. Coincodex’s technical indicators suggest that the current market sentiment is bearish, while the Fear & Greed Index indicates a level of 27, categorized as ‘Fear’. Over the past 30 days, Bitcoin has experienced 13/30 (43%) green days and exhibited 6.49% price volatility. Based on this forecast, Coincodex advises that it is currently not a good time to buy Bitcoin.

Investment Risks for Bitcoin

Investing in Bitcoin can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.