Market updates
Analyst Predicts Bitcoin Downturn Will End Soon
Beginner
2025-03-24 | 5m
Bitcoin is currently in a bear market, meaning its price has dropped by more than 20% from its all-time high. However, analyst Timothy Peterson believes this downturn will be short-lived, lasting only about 90 days. He compared it to past Bitcoin bear markets and found that only four have been worse in terms of duration.
Peterson predicts Bitcoin will not fall much below $50,000 and is unlikely to drop below $80,000. He expects a short-term decline within the next 30 days, followed by a price rally of 20-40% after April 15. This rally could attract more investors and push Bitcoin higher.
The decline in Bitcoin's price is linked to fears of a prolonged trade war, which has made investors hesitant about risky assets like cryptocurrencies. Data also shows that fewer new investors are entering the market, limiting potential price surges. Some experts believe trade tensions will ease by April 2025, potentially improving market conditions.
Despite these challenges, Bitcoin's long-term adoption trends remain strong, suggesting it could recover once market conditions stabilize.
Source:
Cointelegraph
Futures Market Updates
In the past 24 hours, both BTC and ETH futures saw increases in open interest and trading volume, with BTC experiencing a more significant surge in volume (+109.84%) compared to ETH (+69.00%). BTC futures also saw a sharper increase in open interest (+8.04%) compared to ETH futures (+4.52%), indicating stronger market engagement. Both have more short liquidations than long liquidations, but short liquidations were notably higher for BTC ($52.79M) than ETH ($14.38M), indicating stronger short-side pressure in BTC futures. The long/short ratios for both assets remained close to balanced, though BTC traders leaned slightly more bullish (51.29% long) than ETH traders (50.99% long). BTC’s funding rate (0.0034%) was higher than ETH’s (0.0012%), suggesting a greater cost for leveraged long positions in BTC futures.
BTC Futures Updates
Total BTC Open Interest: $56.18B (+8.04%)
BTC Volume (24H): $61.35B (+109.84%)
BTC Liquidations (24H): $4.90M (Long)/$52.79M (Short)
Long/Short Ratio: 51.29%/48.71%
Funding Rate: 0.0034%
ETH Futures Updates
Total ETH Open Interest: $20.83B (+4.52%)
ETH Volume (24H): $25.90B (+69.00%)
ETH Liquidations (24H): $9.81M (Long)/$14.38M (Short)
Long/Short Ratio: 50.99%/49.01%
Funding Rate: 0.0012%
Top 3 OI Surges
BROCCOLI714: $6.13M (+177.31%)
DF: $20.77M (+93.82%)
1MCHEEMS: $5.29M (+92.29%)
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