Bitcoin is facing resistance just above $70,000, but the bulls have kept up 
the pressure, increasing the possibility of a rally to $74,508.

Price predictions 3/11: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR

STRC’s average daily volume implies buying power for about 1,940 BTC per day, 
more than four times the amount of new Bitcoin mined.

STRC may help Strategy reach 1M Bitcoin milestone before BlackRock

Oil markets jolted on Wednesday after the International Energy Agency said 
member countries will release a record 400 million barrels from emergency 
reserves to counter supply disruptions tied to the U.S.-Israel war with Iran 
and the growing blockade of the Strait of Hormuz. IEA Deploys Record Strategic 
Oil Release to Stabilize Markets The coordinated action—announced […]

Iran’s $200 Oil Warning Raises Stakes as IEA Floods Market With Emergency Crude

Crypto analyst Doctor Profit has provided insights into what to expect from 
the Bitcoin price after it dropped below $70,000 over the weekend. This comes 
as the leading crypto continues to face pressure due to the U.S.-Iran war and 
volatile oil prices. What To Expect From The Bitcoin Price In an X post, 
Doctor Profit said that he expects the Bitcoin price to move sideways between 
$57,000 and $87,000. The analyst noted that this sideways price action is not 
bullish but a preparation for what is coming in the next few months for the 
leading crypto. He predicts that BTC could drop to between $50,000 and $44,000 
in the coming months. Related Reading: Bitcoin Is Repeating 2022 Playbook That 
Triggered Crash To $17,500 Doctor Profit also noted that the Bitcoin price is 
mirroring the 2022 price action, when BTC fell 52% from its all-time high 
(ATH) before rising 44% from its low, then falling again. As such, the leading 
crypto is expected to follow the same fractal and rally to the upside in the 
coming months, then drop below $60,000. The analyst said that market 
psychology supports a relief bounce, as the fear and greed index is currently 
at an extreme level of fear. As such, the Bitcoin price could move in the 
opposite direction, with many expecting a decline. Doctor Profit added that 
before the next leg down, the market needs to create additional liquidity in 
the downside and take the liquidity that was built to the upside. The Bitcoin 
price, however, continues to face huge resistance at the $70,000 level, 
negating any sustained rally. BTC also faces pressure amid the Iran war, which 
continues to make oil prices volatile. The leading crypto had climbed to as 
high as $71,000 yesterday but sharply dropped below $70,000 following reports 
that Iran was moving to deploy Naval mines at the Strait of Hormuz. Another 
Local Bottom Could Form Between $57,000 and $60,000 Doctor Profit said he 
considers $57,000 to $60,000 the local bottom but not the macro bottom, and 
expects this area to be tested multiple times. The analyst described this 
range as where it makes sense to buy. He also believes that there is no reason 
to sell at the moment because upside potential remains. Related Reading: 
Bitcoin Bear Market Could Be Shrinking, But Are We Watching History Repeating 
Itself? Doctor Profit said that the largest and most aggressive long-term bets 
will be placed much lower between the $50,000 level and into the low $40,000. 
This is where the analyst plans to re-enter the market with “serious size” 
ahead of the next bull cycle. This is also the area he expects the Bitcoin 
price to form a macro bottom. The analyst expects the Bitcoin price to drop to 
the $50,000 to $40,000 range between September and October later this year. In 
the meantime, he predicts that BTC will continue to see a “long and boring” 
sideways price action. At the time of writing, the Bitcoin price is trading at 
around $69,800, down in the last 24 hours, according to data from 
CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com

What To Expect For The Bitcoin Price After The Weekend Breakdown Below $70,000

Fresh Coinglass data shows ETH and BTC trapped between opposing liquidation 
bands, where a few hundred dollars either way can unleash over 1.9 billion 
dollars in forced flows. Fresh Coinglass data puts hard numbers on where the 
next violent squeeze…

Cryptocurrency price in MMK