Bitcoin Skyrockets To $85K : Is This The Next Breakout ?
The crypto market is in turmoil. After a week marked by a strong correction and intense selling pressure, Bitcoin surged to $85,120, rekindling the hope of investors and traders. However, this sudden rise is based on complex dynamics that raise questions about its sustainability. While some see it as a buying opportunity, others warn of a possible relapse if the trend doesn’t hold. Thus, the confrontation between these two visions creates palpable tension in the market.
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A technical rebound driven by leveraged buying
The last 48 hours have been marked by a sudden increase in Bitcoin , peaking at $85,120. This upward movement has been largely fueled by massive purchases in the spot market and the leveraged market, with a significant increase in long positions on exchange platforms.
JJ the Janitor, an analyst at HighStrike, indicates in a post on platform X (formerly Twitter) on February 28, 2025, that “the spot offers on Coinbase have been filled, which represents the first turnaround where buy orders exceed sell orders since the September low of $52,000.” This signal is generally interpreted as an indication of a short-term trend reversal. However, this influx of orders could mask underlying instability.
Optimism is, however, not widespread. Some analysts, while recognizing the strength of the rebound, remain cautious. Aksel Kibar, a certified market analyst, highlights on the social network X on this February 28 that Bitcoin has made a “harsh retest” of the $78,000 threshold, without confirming a true floor. Many traders are therefore closely monitoring the next daily closes and looking for clues to determine whether the rally is genuinely underway.
Technical indicators still under pressure
While this rebound has allowed for the erasure of some recent losses, technical indicators are sending mixed signals. The Relative Strength Index (RSI) remains in overbought territory, and the candlestick structure on the daily scale does not yet show a clear trend reversal.
The market sentiment, meanwhile, remains marked by great caution. Furthermore, the Crypto Fear & Greed Index still shows high levels of fear, confirming that volatility and uncertainty still dominate the landscape. Jake O, a trader at Wintermute, compares the current situation to that of August 2024, when Bitcoin briefly fell below $50,000 before rising again. He clarifies in a post on the platform X this February 28 that “the decoupling between market positioning and fundamentals has never been more pronounced, creating fertile ground for a major rebound in the upcoming sessions.”
However, a key element could complicate the bullish scenario: the macroeconomic environment. Should new negative economic data weigh on risk assets, investors might downgrade their exposure to Bitcoin, leading to another correction.
The upcoming sessions will be crucial to assess the solidity of this rebound. A hold above $82,000 would validate a bullish re-launch, while a return below $78,000 would revive the specter of a prolonged correction. Bitcoin remains suspended between hope and caution, as investors scrutinize each movement to anticipate the market’s next direction. Furthermore, the outcome of this reboundcould well define the trend for the upcoming weeks, between consolidation and bullish recovery… or a sudden return downward.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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