Strong

Bitcoin

Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>The Bitcoin price entered uncharted territory and is displaying bullish momentum.</a></li>
 <li><span>2</span> <a>Investors are fueling the BTC price and crossed the hurdle of $70K this week.</a></li>
</ul>
<p>The world’s leading cryptocurrency (Bitcoin) persisted in establishing records and assembled renewed highs for weeks. Since the onset of 2024, the BTC coin has rewarded investors and seen a notable surge of over 90% in the last two months, and it is still offering a rally. The investors speculated on the coin, and institutional buying cues were noted. Despite the significant correction from the highs of $65k in 2021, the BTC coin retrieved and sharply overtook the zone with a gigantic spike in trading volume.</p>
<p>At press time, the Bitcoin (BTC) price was trading at $73,445.18 with an intraday gain of 1.84%, indicating bullishness on the charts. It has a weekly return ratio of 15.20% and 51.99% on a monthly basis. The volume-to-market cap ratio is 0.0400, and the market cap is $1.44 Trillion. Analysts are bullish and suggest that BTC has taken wings and is setting its eyes on the $100k mark to catch in the following sessions.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-pumps-above-70k-with-a-surge-in-volume-strong"><strong>Bitcoin Pumps Above $70k with a Surge in Volume&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="346" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-283-1024x346.png" alt="Bitcoin price" class="wp-image-196808" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-283-1024x346.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-283-300x101.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-283-768x260.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-283-1536x519.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-283-750x254.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-283-1140x385.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-283.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Santiment
  </figcaption>
 </figure>
</div>
<p>The above chart signifies the price-to-volume profile of Bitcoin, which recites a significant reversal in recent weeks. This month, the three white soldiers pattern formation led to a wave of over 80%. It led BTC to cross its primary hurdle of $70k with a notable increase of 110% to $64.78 Billion in the trading volume. The data indicates massive institutional buying activity and whale movement.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-price-volatility-is-at-peak-sentiments-refelcts-positivity-among-investors-strong"><strong>Bitcoin Price Volatility is at Peak; Sentiments Refelcts Positivity Among Investors</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="346" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-284-1024x346.png" alt="Bitcoin price" class="wp-image-196809" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-284-1024x346.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-284-300x101.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-284-768x260.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-284-1536x519.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-284-750x254.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-284-1140x385.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-284.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Santiment
  </figcaption>
 </figure>
</div>
<p>The data indicates sharp volatility with an increase in the price value signifies the investors willingness and whale activity. Moreover, the curve replicates a jump of over 23% to 0.0087. However, this week the volatility curve reached a maximum of 0.013. Meanwhile, the total weighted sentiment keeps rising and indicates the overwhelming bullishness.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-total-supply-analysis-strong"><strong>Social Dominance and Total Supply Analysis</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="346" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-285-1024x346.png" alt="Bitcoin price" class="wp-image-196810" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-285-1024x346.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-285-300x101.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-285-768x260.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-285-1536x519.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-285-750x254.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-285-1140x385.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-285.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Santiment
  </figcaption>
 </figure>
</div>
<p>The above data indicates increased social discussion activity on social platforms, which led to a spike in the social dominance curve. The curve spikes over 26% to 24.89%. Meanwhile, the total supply increased to 19.65 Million, whereas the total number of holders rose to 52.20 Million.</p>
<h2 class="wp-block-heading" id="strong-development-activity-and-open-interest-oi-analysis-strong"><strong>Development Activity and Open Interest (OI) Analysis</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="346" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-286-1024x346.png" alt="" class="wp-image-196811" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-286-1024x346.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-286-300x101.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-286-768x260.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-286-1536x519.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-286-750x254.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-286-1140x385.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-286.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Santiment
  </figcaption>
 </figure>
</div>
<p>The development activity of Bitcoin keeps increasing. It grew 30% to 512 this week, signifying a positive outlook. Additionally, the number of active addresses spikes to 17.06 Million. The derivative data indicates the long buildup activity, and the open interest increased by 2.73% to $37.13 Billion.</p>
<h3 class="wp-block-heading" id="strong-bitcoin-btc-in-strong-momentum-can-it-reach-80k-this-month-strong"><strong>Bitcoin (BTC) in Strong Momentum; Can It Reach $80K This Month?</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="474" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-287-1024x474.png" alt="" class="wp-image-196812" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-287-1024x474.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-287-300x139.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-287-768x356.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-287-1536x711.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-287-750x347.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-287-1140x528.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-287.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: BTC Price Chart By TradingView
  </figcaption>
 </figure>
</div>
<p>On the weekly charts, the <a href="https://www.thecoinrepublic.com/2024/03/11/bitcoin-revolution-btc-is-going-wild-is-100k-possible/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) </a>price has given a multi-year breakout and has bounced above the $70k mark. Buyers are fueling gains and aggressively boosting the coin price for the past sessions. The recent spot ETF approval triggered bullish momentum and a sharp up move was noted on the charts.</p>
<p>The Relative strength index (RSI) curve stays close to 80 in the overbought zone, forming a positive divergence on the charts. However, the Bitcoin price may gently retrace toward the $70k mark anytime, as the indicators tell the overbought scenario.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>The Bitcoin (BTC) price is in strong bullish momentum and reaching new highs daily for the past sessions. The trend is intact, and the follow-on buying momentum was noted on the charts.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $72900 and $72450</p>
<p><strong>Resistance Levels:</strong> $74000 and $74900</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

Bitcoin: From Plinth to Paramount; Can BTC Reach $100K In 2024?

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