Bitcoin's price surged notably during March's trade opening, yet traders remained cautious concerning its short-term outlook.
Current BTC Price Dynamics
Data showed local highs of $83,914 on Bitstamp. BTC/USD was up 1.5% on the day, despite negative openings in US stock markets. Market momentum was affected by upcoming US trade tariffs set to take effect on April 2, and gold price's decline after hitting fresh all-time highs.
RSI Signals on Daily Timeframes
Popular traders like Roman noted bearish RSI signals, forecasting a return to levels closer to $80,000. Analyst Rekt Capital also emphasized a potential RSI support retest which might indicate emerging strength.
Comparison with Last Year's Trends
Traders highlight parallels with late 2024 movements. The Bitfinex Alpha report notes that 2025's first quarter was the weakest in years. Despite volatility, BTC carved out a consolidation range between $78,000 and $88,000 in recent weeks.
Bitcoin continues to face pressure from external factors. Long-term holders are beginning to accumulate again, suggesting a gradual improvement in the situation.
