Bitcoin Price Prediction For March 11
Bitcoin and global cryptocurrency markets are facing a sharp decline as concerns about the U.S. economy have put investors in panic mode. Bitcoin fell to $76,000, marking its lowest level in four months. This sudden decline caused a large-scale liquidation, traders Losed $952 million In just 24 hours.
Bitcoin drops below $80k
Bitcoin has been in a loss state for five days, falling from $80,000 to $77,000. Analysts believe the decline is due to growing concerns about the U.S. recession, with the opportunity now at 40%.
Meanwhile, there are speculations that former President Donald Trump’s policies may be affecting market movements to push the Fed to lower interest rates.
Marketing expert Anthony Pompliano suggests Stock markets are instability latelyIn part, it was caused by Trump’s tariffs, which could reduce borrowing costs for Fed Chairman Jerome Powell.
Meanwhile, the 10-year fiscal yield fell to 4.21% from 4.8% in January, leading many to think the Fed may adjust its monetary policy soon. This could have a significant impact on the stock market and cryptocurrencies.
Bitcoin’s next step: recovery or further decline?
Bitcoin has been down for several weeks to $76,900, the lowest level since November 2024. However, it is still slightly above the 50-week exponential moving average (EMA), which may bode well.
However, sales continue and Bitcoin may drop to $73,750, a significant support level for March 2024.
But if the buyer step in and pushes the price Over $80,000BTC can be restored and targeted at $85,000.
