Bitcoin Reclaims $87K: Will the Bull Run Continue?
Bitcoin rallied to $87,000 on March 31, 2025, raising hopes of a new bull run in the crypto market. However, the question is whether the rally can be sustained.
Bitcoin Price Breaks Key Resistance
On March 31, Bitcoin surged, breaking above the $85,000 resistance level and reaching $87,000. The move signaled a positive shift in market sentiment. Data from CoinGlass showed that around 7,000 Bitcoins were opened on Binance Futures, indicating that new capital was flowing into leveraged positions.
Return of Risk Appetite
Bitcoin’s rally came as the S&P 500 ended a four-week losing streak, indicating that investors were returning to riskier assets. Notably, high-risk tech stocks also recorded a recovery, indicating a growing correlation between Bitcoin and the stock market.
Technical setup supports bullish trend
Technical analysis shows that Bitcoin is retesting a key support zone, similar to the pattern before last year's massive bull run. If Bitcoin holds above this support level and breaks above the $88,000-$90,000 zone, it could trigger a significant rally towards a new all-time high.
Pullback concerns
However, some analysts warn that if Bitcoin fails to break above the $88,000-$90,000 zone, a correction to the $80,000 level could occur. This could dampen market sentiment and increase volatility.
Why This Matters
Bitcoin’s current price action is important for both short-term traders and long-term investors. A breakout could boost confidence in the cryptocurrency market, while a correction could increase caution and influence future investment trends.