Over the past few months, the price of bitcoins has remained under pressure, since it switched to the technical bear market after a 20% fall from the highest level this year.
Bitcoin (BTC) and other altcoins have important catalysts that can raise it in the next few months. He traded at the level of $ 90,000, which is about 15% from the lowest level this month.
Firstly, the yield of US bonds receded from the highest levels this year. Blank ten -year profitability decreased from 4.8% in January to 4.24%. The 30-year-old and five-year profitability also slipped over the past few weeks.
The fall in the profitability of bonds is a sign that the market expects that the federal reserve system will provide more interest rates this year. Economists for three reductions after the United States has released a series of weak economic data. Consumer and business trust fell after Donald Trump added tariffs for key American trading partners.
The labor market also softened, since the unemployment rate increased to 4.1% in February, and wages for wages on uneven farms increased by 151,000, which is lower than 159,000.
US dollar index and the profitability of bonds crashed
Secondly, the US dollar index or DXY went into a free fall. Over the past five days in a row, he has fallen, moving to at least $ 103.78, which is the lowest level since November. This year it decreased by almost 7% from the highest level. The price of bitcoins often succeeds when the yield of the US dollar and bonds slip, because this increases the chances of reducing the percentage rates of the Fed.
Looking at this recent step in DXY through a historical lens, it is difficult to be something other than optimistic. I launched the signal screen for 3 -day negative movements of more than -2% and -2.5% and found that they all occurred in the bitcoin market (excess points) or … pic.twitter.com/lc6izl5u2a
– Jamie Kutts CMT (@jamie1couts) March 6, 2025
In addition, it is expected that the global money supply will continue to grow, as the governments increase their expenses. Germany seeks to spend billions of dollars on its defense, while China announced plans to increase expenses. The diagram below shows that Bitcoin has a close correlation with the global money supply M2.
Technical analysis of Bitcoin prices
The daily schedule shows that the price of BTC has remained stable over the past few days, which has grown from a minimum of $ 78,000 last week to $ 90,000.
Bitcoin remained above the rising trend line, which tied the lowest swings since August last year. It also exceeded a 50-day sliding medium and weak, stop and reverse point of Murri’s mathematical lines.
Consequently, Bitcoin should rise above the strong, rotary and reverse level at 93,750 dollars to confirm the bovine breakthrough. This price coincides with the highest level this week. The movement above this level will indicate a large profit, potentially up to $ 100,000.
