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Cryptocurrency markets kicked off the new week with significant movement, and the market opening saw BTC become active. Bitcoin even exceeded $71,000 a few minutes ago. While a drop to $59,000 was expected, what will be BTC‘s March closing price? Current predictions and the latest situation.
Bitcoin March Predictions
ETF channel sales were primarily related to bankrupt crypto companies selling their GBTC shares. This situation, influencing investors expecting further declines, caused BTC to retreat to the $60,000 region. However, as the sales ceased, the demand for Bitcoin based in the USA increased again.
Spot Bitcoin ETF demand has also started to remain strong, which led to a rapid increase in BTC prices in the cryptocurrency markets. If this momentum continues, we might see the $73,777 and $76,000 levels being tested. The Bitcoin price was at $70,881 at the time this article was prepared.
The strong support at $60,700 and closures above $70,200 could further increase optimism in the coming hours. With less than 30 days to the halving, BTC looks extremely strong and this rise has also helped altcoins achieve double-digit gains.
