4 Reasons Why Bitcoin's Rally Was Halted at $89K and Might Not Resume Soon
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Bitcoin's recent price surge to nearly $89,000 has been halted due to multiple factors including overbought technical indicators, resistance at key price levels, and significant whale profit-taking. Technical analysis suggests a potential short-term pullback, with the Relative Strength Index (RSI) and TD Sequential indicator pointing to market exhaustion.
March 25, 2025 | 7:45 am
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Bitcoin encountered resistance around $89,000, with technical indicators suggesting a potential short-term pullback. Whales have offloaded over 20,000 BTC, valued at approximately $1.8 billion.
Multiple technical indicators (RSI and TD Sequential) suggest market exhaustion. Whale profit-taking and Mt. Gox wallet movements add selling pressure, indicating a potential short-term price decline.
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