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Bitcoin has maintained its upward momentum since the week started, signaling renewed interest and optimism in the market. The asset reclaimed the $88,000 price level on Monday and continues to trade above this zone, marking a nearly 10% rise in value over the past seven days.
The steady price recovery comes after weeks of retracement, during which Bitcoin experienced considerable selling pressure and fell from previous highs.
On-Chain Resistance Zones Identified
IntoTheBlock, an on-chain analytics platform, provided insights on whether Bitcoin could be on track to retest its all-time high. The firm highlighted several key resistance ranges that may impact Bitcoin’s price action in the near term.
These include the $88,355.91 to $90,920.05, $90,920.05 to $93,591.02, $93,591.02 to $96,262.00, $96,262.00 to $98,932.97, and $98,932.97 to $101,603.95 levels—zones where many addresses are currently holding Bitcoin at a loss.
Is Bitcoin on its way to test its highs?
The red bubbles in this chart highlight levels where underwater investors could sell as they break even, especially if uncertainty persists.
A key zone is around $97.4k, where roughly 1.44 million BTC are currently holding at a loss. pic.twitter.com/LKaDBen7cU
— IntoTheBlock (@intotheblock) March 24, 2025
Notably, around the $97.4K level alone, approximately 1.44 million BTC are held by investors in unrealized loss positions, which could introduce selling pressure as prices recover.
Despite the resistance ahead, other on-chain activity shows signs of investor confidence. According to IntoTheBlock, Bitcoin saw over $220 million in net outflows from centralized exchanges in the past 24 hours.
Over the past week, total outflows have exceeded $424 million, often interpreted as a sign of investors moving assets into cold storage rather than preparing to sell.
Meanwhile, crypto analyst Burak Kesmeci noted that Bitcoin’s 30-day volatility index has surged to 52.31 points—its highest level in the past six months. The spike in volatility coincides with anticipation around the US Core PCE report expected Friday, a macroeconomic event that could introduce further price swings.
Technical Outlook On Bitcoin
From a technical perspective, analysts remain divided. Crypto analyst Ali pointed out that Bitcoin is approaching a key resistance zone around $89,000, where the 50-day moving average intersects with a descending trendline drawn from the January all-time high.
The outcome at this level may influence the direction of the next major move. On the other hand, analyst Javon Marks highlighted what he described as a potential breakout pattern forming on Bitcoin’s chart.
BREAKOUT ALERT on Bitcoin and the last breakout after similar action led into one of the most powerful and FASTEST bullish moves so far this entire cycle!$BTC can be ready to deliver another powerful and speedy run to new All Time Highs… https://t.co/tchC9wsLFl pic.twitter.com/QKbDAUV88l
— JAVON⚡️MARKS (@JavonTM1) March 25, 2025
He pointed to a previous breakout that triggered one of the fastest rallies in the current cycle and noted similar technical behavior emerging again. Marks believes that if momentum continues, Bitcoin could be positioning itself for another rapid climb toward new record highs.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
