Bitcoin Holds Steady as Analysts Discuss Reasons for Price Stagnation Below $87,500 Mark
Major analysts at Material Indicators suggest that the sustained growth of Bitcoin has been curtailed, primarily due to market manipulation by one or more significant players, known as "Spoofy the Whale." This type of price manipulation involves the placement of large, canceled limit orders to suppress the price, preventing it from surpassing $87,500.
On March 20, 2025, experts at Material Indicators noted the monthslong support level at $76,000 as insufficient for a significant rebound, citing a lack of momentum from the recent Federal Reserve meeting as well. Moreover, Trader Daan Crypto Trades emphasized the importance of bulls holding prices around $84,000-$85,000 to maintain market momentum, as a fall from these levels could lead to a full retracement due to low liquidity.
Experts from CryptoQuant highlighted a two-year low in the Bitcoin Bull Score index, with this metric traditionally exceeding 60 to trigger strong rallies. With Bitcoin currently down 23% from its peak and prolonged periods of low Bull Score indications often seen during bear markets, concern over a bearish outlook has been raised.
In contrast to the pessimistic sentiment surrounding Bitcoin, YouTube analyst Crypto Rover forecast expectations for a potential surge in Ethereum. Over the past 48 hours, 360,000 ETH has been withdrawn from exchanges, signaling whales are accumulating ETH in cold wallets ahead of a potential surge to $6,000, according to Trader Crypto General. Investor NaBer offers an even more optimistic target of $8,000-$10,000, believing the cryptocurrency will instantly reach these levels once the largest ETH accumulation ends.
However, Daan Crypto Trades offers a more pessimistic outlook, citing the ETH/BTC ratio's return to levels unseen since late 2020, indicating a severe downtrend. Though analyst Scott Melker comments that Ethereum may be nearing a "generational bottom," Standard Chartered analysts have revised their 2025 Ethereum price forecast downward from $10,000 to $4,000.
Despite the ongoing debate, there is no confirmed evidence of deliberate price manipulation targeting Bitcoin and Ethereum markets in March 2025. Instead, regular market volatility, investor behavior, supply-demand pressures, and broader regulatory developments appear to be the main drivers behind the cryptocurrencies' price movements during this period.
Bitcoin's ongoing struggle to break past $87,500 is attributed to the continued manipulation by significant players, as suggested by analysts at Material Indicators. Meanwhile, the finance world is observing a surge in expectations for Ethereum, with experts predicting a potential jump to $6,000 based on whale accumulations and a low ETH/BTC ratio reminiscent of late 2020. However, the cryptocurrency market's price movements during this period seem to be primarily influenced by regular market volatility, investor behavior, supply-demand pressures, and broader regulatory developments, without any confirmed evidence of deliberate price manipulation targeting Bitcoin and Ethereum markets. It's worth noting that the decentralized finance (Defi) sector continues to evolve and influence the digital finance landscape. Investors may keenly observe the impact of Defi innovations and regulatory modifications as they weigh their investing decisions in this technology-driven market.
