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<p>On Sunday, March 3, the world’s cryptocurrency Bitcoin (BTC) surged past $64,000 once again, however, faced rejection again above those levels. At press time, the Bitcoin price is up 2.80% trading at $63.790 with a market cap of $1.253 billion. As per the CoinGlass <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/LiquidationData" target="_blank">data</a>, the total Bitcoin liquidation data has surged to $440,000 in the last 24 hours.</p>
<h3 id="key-bitcoin-btc-price-levels-to-watch">Key Bitcoin (BTC) Price Levels to Watch</h3>
<p>According to insights shared by renowned crypto analyst Ali Martinez, the <a href="https://coingape.com/markets/what-historical-trends-hint-for-bitcoin-price-in-march/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> market has witnessed significant activity in a specific price range. Martinez notes that over 500,000 BTC have been transacted within the range of $61,100 to $61,800, establishing a substantial support area for the cryptocurrency.</p>
<p>He further suggests that if Bitcoin manages to sustain its position above this support threshold, it is likely to continue its upward trajectory towards $65,900, with minimal resistance anticipated ahead.</p>
<p>However, Martinez also highlights the potential downside risks for BTC. Should Bitcoin falter and dip below the established support level, a correction could ensue, potentially driving the price down to $56,970 or even $51,500.</p>
<figure id="attachment_183833" aria-describedby="caption-attachment-183833" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-183833" src="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-UTXO-.jpeg" alt="" width="2406" height="1296" srcset="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-UTXO-.jpeg 2406w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-UTXO--300x162.jpeg 300w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-UTXO--1224x659.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-UTXO--768x414.jpeg 768w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-UTXO--1536x827.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-UTXO--2048x1103.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Price-UTXO--150x81.jpeg 150w" sizes="(max-width: 2406px) 100vw, 2406px">
 <figcaption id="caption-attachment-183833" class="wp-caption-text">
  Courtesy: <a rel="noopener noreferrer nofollow" href="https://twitter.com/ali_charts/status/1764282098020462870" target="_blank">Ali Charts</a>
 </figcaption>
</figure>
<h3 id="btc-price-at-125-000">BTC Price At $125,000</h3>
<p>Bitcoin analyst Will Woo has offered an optimistic projection for the price of Bitcoin (BTC), predicting that it could surpass $125,000 before the end of 2025 on a conservative basis. Woo’s analysis hinges on the assumption that clients of investment giants Blackrock and Fidelity will allocate a modest 3% of their portfolios to Bitcoin.</p>
<p>According to Woo’s calculations, if Blackrock, with assets totaling $9.1 trillion, were to allocate 84.9% of this amount to Bitcoin, and Fidelity, with $4.2 trillion in assets, were to allocate 3%, the resulting investment would significantly impact Bitcoin’s price trajectory.</p>
<p>Despite these allocations representing just a fraction of the total global wealth, estimated at around $500 trillion, Woo <a rel="noopener noreferrer nofollow" href="https://twitter.com/woonomic/status/1764462858237047206" target="_blank">believes</a> that the endorsement from major asset managers like Blackrock and Fidelity could drive substantial inflows into Bitcoin, leading to significant price appreciation.</p>
<p>Massive Bitcoin ETF inflows have rocked Satoshi Street over the last two months. <a href="https://coingape.com/spot-bitcoin-etf-how-blackrock-and-fidelity-gobbled-up-79-on-inflows/" target="_blank" rel="noopener noreferrer nofollow">BlackRock Inc.’s iShares Bitcoin Trust (IBIT)</a> and Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) have collectively garnered 79% of total inflows among the “Newborn Nine” funds. In response, four of the remaining seven funds have opted to reduce their fees below those of the two leading funds.</p>
<p>The post <a href="https://coingape.com/bitcoin-btc-price-jumps-past-64000-again-key-levels-to-watch/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Jumps Past $64,000 Again, Key Levels to Watch</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Bitcoin (BTC) Price Jumps Past $64,000 Again, Key Levels to Watch

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