Bitcoin Price Prediction For March 19
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As Gold continues in price discovery, Bitcoin (BTC) price has established a support level of around $82.5k in the last four days. The flagship coin has been attempting to regain a macro bullish outlook after being trapped in a falling trend since the second inauguration of U.S. President Donald Trump.
However, a momentum shift has been observed in the past two weeks, signaling a potential bullish rebound toward a new all-time high (ATH). Moreover, the regulatory environment change in the United States – which has aligned all U.S. agencies, both houses of representatives, and the executives with the crypto industry – has signaled another bull rally in the near future.
Bitcoin Whale Investors Prepare for Economic Shift
After observing the crypto market in the past few weeks from the side, on-chain data shows whale investors have accelerated their Bitcoin accumulation pace. According to market data from IntoTheBlock, Bitcoin transactions greater than $100k have increased from 6,332 txs to around 9,552 txs in the past four days.
The U.S. spot BTC ETF issuers have now recorded two consecutive days of cash inflows after bleeding for the past five weeks. On Tuesday, BlackRock’s IBIT reported a net cash inflow of about $218 million, thus currently holding assets worth about $46.79 billion.
The renewed interest in Bitcoin from whale investors is likely influenced by the anticipated macroeconomic stabilization. Moreover, the U.S.-led tariff wars have largely been priced in during the past few weeks.
Meanwhile, the Federal Reserve is expected to hold its interest rates at 4.5 percent later today. Already, the Bank of Japan held its benchmark interest rates at 0.5 percent earlier today.
Midterm Expectations
Bitcoin price is currently retesting a crucial rising trendline, which could yield a major parabolic rally towards price discovery soon. From a technical analysis, if Bitcoin price breaches the support level above $80k, an accelerated selloff will be inevitable, with a short term target of about $71k.
