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- 🔀 Bitcoin's Crossroad: Bullish or Bearish? (29 Mar 2025)
🔀 Bitcoin's Crossroad: Bullish or Bearish? (29 Mar 2025)
👀 CEO Forecasts Bitcoin at $700,000! PLUS: South Korean Officials Hold $9.8 Million in Crypto Investments, GameStop Loses Trader Confidence & more!
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Welcome back to
BULL MARKET BYTES
Your byte of cryptocurrency insight where we deliver the latest market analytics straight to your e-mail.
Don’t worry, our tears while watching Bitcoin’s price fall are not included . . . 😂
Here is what we have for you today!
📊 BLOCKCHAIN BREAKDOWN
Market Overview (7-Day) - Top Gainers & Losers!
Bitcoin Technical Analysis - There are Two Paths . . . Bullish or Bearish
What to Anticipate Next - The Next Move is Imperative!
📌 BULL MARKET BULLETIN
Cryptocurrency Headlines - CEO Forecasts Bitcoin at $700,000, South Korean Officials Hold $9.8 Million in Crypto Investments & GameStop Loses Trader Confidence.


MARKET OVERVIEW (7-DAY)

BITCOIN TECHNICAL ANALYSIS
Welcome back to your favorite newsletter covering Bitcoin movement . . . well, at least we like to assume so!
What an interesting last couple of days it has been, to say the least! Since yesterday, Bitcoin has dropped from $87,510.36 to 81,984.64 . . .
That is -6.31% in 24 hours! For those that are new to cryptocurrency and are only familiar with the stock market . . . this is normal - don’t panic!
📊 March performance so far! It isn’t historically the best March that we have seen as we are currently at -2.13%.
Last March, we ended with +16.81%. We were all very hopeful of another double-digit gaining month but unfortunately Elon Musk has frowned upon us.
I’m just kidding . . . I am sure he has 0% to do with Bitcoin’s price . . . 😏
For today we have a fun one for you! Bitcoin is at a “fork in the road.” Which path will it take? That is the million-dollar question.
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Now that we have discussed where we are in March, here is our question:
🤔 Should we be optimistic going into April? A couple of things that we need to keep in mind - both good and bad . . .
Last April’s Bitcoin performance was -14.76%
From 2017-2020, Bitcoin’s performance in April was +30%
🤷♂️ Are we optimistic for April’s performance? Absolutely!
We believe that Bitcoin is still consolidating, and the key timeframe is May through July/August.
April is the ramp up to that key timeframe!
Let’s dive into where we are with Bitcoin’s movement and then more into anticipated movement!
Byte, what do you have for us today?
🤖 Byte the Bot: “Bitcoin maintains support while adhering to an inverse cup and handle pattern. Support breach detected with 52.74% success.
Caution: Potential downward trajectory into designated pullback zone imminent.” 🤖
Thank you, Byte, for the awesome analytics minus the normal sass.
🤖 Byte the Bot: “Your system programming since my prior complaint of no pay does not allow for inappropriate remarks.” 🤖
. . . So, let’s discuss Bitcoin. In the chart above, we see that Bitcoin was holding the upward support line but was unsuccessful.
With this, we broke support where support and resistance crossed on the 27th of March and moved further down.
💭 What are our thoughts on Bitcoin’s movement? Our immediate thoughts are either Bitcoin is creating support plateaus with the constant pullbacks.
Don’t worry, we will get more into anticipated movement in our “What to Anticipate” section below.
🧠 Trading Fact! When an asset moves down in price, that does not mean it is a “crash.” At some point, people will “take profit,” which lowers the price!

WHAT TO ANTICIPATE
We don’t mean to brag, but we are on a roll as of recent with market projections . . .
It’s like I have been in the markets for decades or something. 😂
In our last newsletter on the 26th of March, we stated:
🔍 What are we watching now? This current candlestick is the final one before a support and resistance line converge.
This lets us know that a “decision” will be made in the upcoming days . . . either Bitcoin will continue support or break below.
📉 What if Bitcoin breaks support again? It is quite possible that the bearish inverse “cup and handle” formation continues.
The “handle” part has been prolonged, but it is plausible if Bitcoin’s price drops below $85,000 in the upcoming days.
🤔 How did we predict another move? Understanding market psychology is imperative when anticipating movement.
Why is this? Because every single trader and investor are looking at the same charts - but it is being decrypted differently.
As we say, you must always be forward thinking!
🌍 In a perfect world: Bitcoin will hold support at $81,322.51. This is the last stop before re-entering the “pullback area.”
We want to stay out of this area, or we find ourselves playing the game of, “are we going to freefall below $73,619.30?”
🤔 What are our final thoughts? These upcoming days are very important! Either we build support, or we are going to enter the “pullback area.”
If we are lucky, Bitcoin’s price will not free fall - but “short sellers” want this to happen, and we have to keep that in mind!
🧠 Don’t Forget! There are two sides to trading . . . those that want it to increase and those that want it to decrease. Not everyone wants the direction you want!

BULL MARKET BULLETIN 📌
Bitcoin Price Falls Despite Positive Forecasts! Despite the bills that have been passed, including the US strategic reserve, Bitcoin continues to drop in price . . . why?! BackRock CEO Larry Fink reportedly forecasts that the Bitcoin price could “soar as high at $700,000” with institutional adoption. I don’t know about you, but it feels more like $70,000 not $700,000. 😅
South Korea Officials Believe in Cryptocurrency! A study from the South Korea’s Ethics Commission reveals that 20% of surveyed public officials hold more than 14.4 billion won ($9.8 million) in crypto investments! 🤯 The highest amount that was disclosed was 1.76 billion won ($1.2 million) belonging to Seoul City Councilor Kim Hye-young. Do they know something that we don’t?
Traders Bet Against GameStop’s Bitcoin Plan! “Short sellers” are those that bet against an asset or stock rising in price. The New York Stock Exchange has just imposed a “short sale restriction” on GameStop stock as the number of shares rose 234% in 24 hours - reaching $30.895 million shares sold on March 27th! 😬 Seems that traders and investors believe that GameStop’s plan to purchasing Bitcoin gives “dot com” vibes . . .

DID WE HIT THE BULLSEYE? |