Bitcoin will face ‘significant resistance’ reclaiming $94K: Analysts

Bitcoin may struggle to move above $94,000 after its failed attempt to reclaim the price level two days ago, Bitfinex analysts say.
“Any recovery to take the price back above $94,000 might face significant resistance,” Bitfinex analysts said in a March 3 markets report. Bitcoin (BTC) fell below $94,000 on March 2 and has yet to bounce back.
Strong spot Bitcoin market sell-pressure nulls Trump gains
The Bitfinex analysts linked this prediction to the recent volatility following US President Donald Trump’s March 1 announcement pledging a crypto reserve, which saw Bitcoin quickly surge 12% from $85,000 to $95,000.
However, the analysts said that intense selling pressure in the Bitcoin spot market has already erased most of those gains. With Bitcoin currently trading at $87,190, a move back to $94,000 represents an almost 8% increase, as per CoinMarketCap data.
Bitcoin is down 7.12% over the past 30 days. Source: CoinMarketCap
The consensus among crypto analysts for Bitcoin’s price in the short-term appears uncertain, with no apparent signs that the downtrend is over or strong signals of an emerging uptrend.
Pseudonymous crypto trader Rekt Capital said in a March 4 X post that while “history suggests the bottom may very well be in on this downside deviation,” further downside remains a possibility.
Rekt said that while Bitcoin may see some form of price stability around the range low of $93,500 over the coming days, it does not mean that the price won’t “downside deviate” below $93,500 again.
Volatility to reign until genuine buyers enter market
Crypto analyst Axel Adler said in a March 4 X post it was a “good sign” that buyers “bought up” Bitcoin when it recently tapped $81,000.
Meanwhile, MN Trading founder Michaël van de Poppe said, “Honestly, I think we’ll need to wait until this week is over as there’s a lot of macro-economic data & events.”
Related: Bitcoin price action mirrors 2019 ‘Xi pump,’ are new BTC lows incoming?
The US Consumer Price Index (CPI) for February is set for release on March 12, one week ahead of the next Federal Reserve interest rate decision on March 19.
Master Ventures founder Kyle Chasse recently said Bitcoin’s price will continue to experience volatility until genuine buyers start entering the market rather than traders seeking arbitrage opportunities.
The Crypto Fear & Greed Index, which measures market sentiment, shows a score of 20 in the “Extreme Fear” category, where it has been since Feb. 25.
Magazine: Off The Grid’s ‘biggest update yet,’ Rumble Kong League review: Web3 Gamer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin (BTC) $ 119,039.00
Ethereum (ETH) $ 4,279.13
XRP (XRP) $ 3.16
Tether (USDT) $ 1.00
BNB (BNB) $ 811.71
Solana (SOL) $ 176.11
USDC (USDC) $ 0.999799
Lido Staked Ether (STETH) $ 4,275.38
Dogecoin (DOGE) $ 0.225322
TRON (TRX) $ 0.347974
Cardano (ADA) $ 0.782664
Wrapped stETH (WSTETH) $ 5,171.00
Wrapped Bitcoin (WBTC) $ 118,837.00
Hyperliquid (HYPE) $ 43.58
Chainlink (LINK) $ 21.29
Stellar (XLM) $ 0.441705
Wrapped Beacon ETH (WBETH) $ 4,605.25
Sui (SUI) $ 3.70
Wrapped eETH (WEETH) $ 4,586.42
Bitcoin Cash (BCH) $ 594.95
Hedera (HBAR) $ 0.249738
WETH (WETH) $ 4,278.32
Ethena USDe (USDE) $ 1.00
Avalanche (AVAX) $ 23.09
Litecoin (LTC) $ 120.99
Toncoin (TON) $ 3.40
LEO Token (LEO) $ 8.98
USDS (USDS) $ 0.999376
Shiba Inu (SHIB) $ 0.000013
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
Uniswap (UNI) $ 11.19
WhiteBIT Coin (WBT) $ 45.08
Coinbase Wrapped BTC (CBBTC) $ 118,975.00
Polkadot (DOT) $ 3.90
Cronos (CRO) $ 0.169698
Ethena (ENA) $ 0.811036
Ethena Staked USDe (SUSDE) $ 1.19
Bitget Token (BGB) $ 4.41
Monero (XMR) $ 263.66
Pepe (PEPE) $ 0.000011
Aave (AAVE) $ 298.00
Dai (DAI) $ 1.00
Bittensor (TAO) $ 364.23
Ethereum Classic (ETC) $ 22.44
NEAR Protocol (NEAR) $ 2.62
Mantle (MNT) $ 0.957816
Ondo (ONDO) $ 0.993612
Pi Network (PI) $ 0.399897
Aptos (APT) $ 4.59
Internet Computer (ICP) $ 5.42
OKB (OKB) $ 46.17
Jito Staked SOL (JITOSOL) $ 215.36
Binance-Peg WETH (WETH) $ 4,279.21
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
Kaspa (KAS) $ 0.090515
Pudgy Penguins (PENGU) $ 0.036862
Arbitrum (ARB) $ 0.444938
Algorand (ALGO) $ 0.256397
USD1 (USD1) $ 1.00
POL (ex-MATIC) (POL) $ 0.239474
VeChain (VET) $ 0.024705
Cosmos Hub (ATOM) $ 4.52
Rocket Pool ETH (RETH) $ 4,859.86
Gate (GT) $ 16.63
Fasttoken (FTN) $ 4.58
Render (RENDER) $ 3.78
Bonk (BONK) $ 0.000025
Kelp DAO Restaked ETH (RSETH) $ 4,489.54
sUSDS (SUSDS) $ 1.06
Worldcoin (WLD) $ 1.00
Story (IP) $ 6.14
Artificial Superintelligence Alliance (FET) $ 0.697702
Binance Staked SOL (BNSOL) $ 188.20
Sky (SKY) $ 0.084332
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 5.11
Sei (SEI) $ 0.308307
Official Trump (TRUMP) $ 8.88
Filecoin (FIL) $ 2.50
SPX6900 (SPX) $ 1.78
Lombard Staked BTC (LBTC) $ 119,064.00
StakeWise Staked ETH (OSETH) $ 4,499.45
Quant (QNT) $ 110.84
Flare (FLR) $ 0.022217
Liquid Staked ETH (LSETH) $ 4,657.32
Mantle Staked Ether (METH) $ 4,556.69
Jupiter (JUP) $ 0.500020
KuCoin (KCS) $ 11.80
USDtb (USDTB) $ 0.999968
XDC Network (XDC) $ 0.087536
Lido DAO (LDO) $ 1.54
USDT0 (USDT0) $ 0.999078
NEXO (NEXO) $ 1.36
Injective (INJ) $ 13.84
Optimism (OP) $ 0.762411
Provenance Blockchain (HASH) $ 0.029115
First Digital USD (FDUSD) $ 0.999534
Renzo Restaked ETH (EZETH) $ 4,511.47
Stacks (STX) $ 0.726312
Curve DAO (CRV) $ 0.926931
Celestia (TIA) $ 1.73