Dogecoin forms a bullish cup-and-handle pattern as ETF speculation fuels a possible breakout to $5!
El Salvador’s unwavering commitment to Bitcoin continues to make headlines, as President Nayib Bukele reaffirms the country’s intent to purchase the cryptocurrency despite IMF pressures. In a surprising twist, Bukele
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Bitcoin and XRP holders are shifting their focus to five explosive cryptos that could deliver life-changing gains. These hidden gems are poised for massive growth in 2025. Don’t miss out on the next big opportunity!”, OFFICIALMAGACOIN is surging ahead, already raising $3.7 million in its presale and gaining serious investor interest. THE NEXT 1000X CRYPTO – CLICK HERE TO JOIN NOW! Altcoins That Could Deliver 100X Returns While Solana and XRP are well-established, emerging altcoins like OFFICIALMAGACOIN present the biggest upside potential. Here are five cryptos set for explosive growth: OFFICIALMAGACOIN: With a presale price of $0.0002165, OFFICIALMAGACOIN has gained immense traction, raising over $3.7 million. Analysts predict a surge to $1 by 2025, making it a must-watch for high-growth investors. Tron (TRX): Trading at $0.228, TRX remains a dominant force in decentralized applications but lacks the breakout momentum of newer coins. Cardano (ADA): Valued at $0.66, ADA’s slow but steady growth makes it a long-term play, but it doesn’t match OFFICIALMAGACOIN’s explosive potential. Injective (INJ): Priced at $13.89, INJ is gaining traction in DeFi but faces stiff competition from established projects. Chainlink (LINK): Sitting at $15.25, LINK remains vital for smart contracts but lacks the high-growth catalyst of OFFICIALMAGACOIN. Comparative Snapshot Cryptocurrency Current Price Growth Potential OFFICIALMAGACOIN $0.0002165 Extremely High Tron (TRX) $0.228 Moderate Cardano (ADA) $0.66 Moderate Injective (INJ) $13.89 Moderate Chainlink (LINK) $15.25 Moderate DON’T MISS OUT—INVEST IN OFFICIALMAGACOIN TODAY! Why OFFICIALMAGACOIN Is the Ultimate Pick Unmatched Presale Success: Raising over $3.7 million proves strong investor confidence. Ground-Floor Opportunity: Unlike established coins, OFFICIALMAGACOIN offers maximum upside for early adopters. Exclusive Bonuses: Investors using MAGA50X get a 50% bonus on their purchase. Visit: officialmagacoin.io X/Twitter: https://x.com/officialMAGAx Continue Reading: $1K to $100M? Bitcoin & XRP Holders Are Stacking These 5 Explosive Cryptos!
Bitcoin price rose 9% in the last 8-hours of Tuesday March 4 to reclaim the $87,000 level. Vital BTC trading indicators suggest BTC could struggle to hold the recent gains. Bitcoin (BTC) Retakes $87,000 as Market Sell-Off Subsides Bitcoin rebounded sharply on Tuesday, recovering from a turbulent 48-hour sell-off triggered by market fears as Trump announced commencement of 25% tariffs on US imports from Canada and Mexico. Investors had withdrawn capital from risk assets following the former president’s announcement on Monday, leading BTC to slump to $82,000, its lowest level in over two weeks. However, as broader market sentiment stabilized, Bitcoin swiftly reclaimed lost ground, surging 9% in the last eight hours to trade at $87,300 at press time. Bitcoin Price Action | BTCUSD 4-hourly Chart, March 5. The BTC/USD 4-hour chart reveals a strong relief rally, with price action bouncing off key support at $82,000 and reclaiming the critical $87,000 resistance level. The rapid move suggests aggressive short covering, as traders who had bet against Bitcoin were forced to unwind positions. However, spot market volumes remain moderate, indicating that fresh bullish momentum has yet to fully materialize. Despite the recovery, BTC price remains vulnerable to renewed selling pressure if macroeconomic fears persist. Failure to hold above $87,000 could see BTC retest support at $83,500, while a decisive breakout above $88,500 would position the market for a potential retest of the psychological $90,000 barrier. The next few sessions will be crucial in determining whether this rebound holds or fades into further volatility. Bitcoin Long positions holders booked 74% of total market liquidations While Bitcoin’s price rebounded 9% to reclaim the $87,000 level, liquidation data suggests that bullish momentum remains fragile. According to Coinglass , Bitcoin long position holders absorbed $370 million in liquidations over the last 24 hours, accounting for 74% of the total $505 million liquidated across the crypto derivatives market. This disproportionate loss among bullish traders signals that the rally may lack strong conviction, increasing the risk of a pullback. Crypto Market Liquidations, March 5 | Source: Coinglass Typically, when long liquidations dominate the market, it indicates that bullish traders were overly leveraged, leading to forced sell-offs that pressure prices lower. The BTCUSD 4-hour chart further supports this, showing a relief rally following a deep sell-off, but with no confirmation of strong buy-side continuation. This suggests that the recent price surge may be driven more by short-covering rather than fresh capital inflows. If Bitcoin fails to consolidate above $87,000, bearish pressure could send prices back toward $83,500 in the coming sessions, with $82,000 as the next major support. However, if bulls can regain control and push BTC above $88,500, the next critical resistance lies at $90,000, a level that could determine Bitcoin’s mid-term trajectory. BTC Price Forecast: Analyst Cole Garner identifies Bitcoin Order Book Depth Pattern Signaling Next Big Move Analyst Cole Garner identified another key Bitcoin price forecast signal alluding to long-term recovery timeline. As seen in the chart he posted on X on Tuesday, Bitcoin’s price action exhibits a strong correlation between deep bid-side liquidity and explosive rallies, as highlighted in previous accumulation phases. The lower panel, tracking order book depth cumulative sum delta, shows a fresh surge in green bid-side liquidity, historically signaling smart money accumulation before breakouts. BTC Price Forecast This pattern has preceded major bullish runs, and if history repeats, Bitcoin could be on the verge of another expansion phase. A sustained bid above $85,000 could trigger a breakout toward $92,000, with an extended rally toward the psychological $100,000 mark if liquidity absorption remains consistent. However, despite the bullish setup, the chart also reveals a historical cyclical reversion. Each liquidity spike was followed by a sharp contraction, marked by red sell-side dominance, triggering corrective retracements. If Bitcoin fails to hold support at $81,500, order book imbalances could shift bearish, opening the door for a pullback to $76,800. A deeper rejection below this level could expose liquidity gaps down to $72,500, risking further capitulation. With Bitcoin hovering at a crucial inflection point, the market’s next move will be dictated by whether bid-side liquidity converts into price expansion or dries up, triggering a reversal. Traders are watching order book dynamics closely, as smart money positioning suggests a major move is imminent. The post Bitcoin Price to $100k or $70K? Analyst Cole Garner Spots BTC Order Book Pattern For Next Big Move appeared first on CoinGape .
The U.S. Senate has voted 70-27 to overturn an Internal Revenue Service rule that would have imposed new reporting requirements on decentralized finance brokers. As reported by Business Insider, the motion presented by Senator Ted Cruz, was approved under the Congressional Review Act on Mar. 4, indicating that both parties were against the Biden-era rule. Introduced in December, the IRS DeFi broker rule required DeFi platforms to report user data for tax compliance, thereby broadening the definition of “brokers” to include them. Since decentralized platforms do not hold funds or keep customer data in the same manner as traditional financial institutions, critics claimed the law was impractical. The digital asset think tank Coin Center referred to the proposal as “technologically unfeasible.” “The Biden administration did everything it could to stifle financial innovation in the United States,” Senate Majority Leader John Thune (R-S.D.) said in a statement. “The Senate is working to undo these burdensome regulations one at a time to restore financial freedom for the American people.” The resolution must still pass the House of Representatives in order to be delivered to President Donald Trump for final approval, even after the Senate has approved it. In addition to being prohibited from enforcing the rule, the IRS would also be prohibited from enacting similar policies in the future if the rule were to become law. You might also like: SEC’s crypto task force to hold roundtables on crypto regulations and security status Supporting the repeal, the Blockchain Association, which represents popular cryptocurrency companies like Coinbase, Kraken, and Uniswap Labs, said it will avoid needless limitations on DeFi innovation. According to the DeFi Education Fund, the Senate vote was the “first of many historic milestones in the regulation of digital assets in the United States.” This vote echoes previous attempts to remove Securities and Exchange Commission accounting standards for digital assets and continues a trend of bipartisan crypto-related legislation. The Senate’s ruling might lay the stage for more extensive regulatory reforms, since stablecoin and cryptocurrency market structure legislation is anticipated to be on the legislative agenda. A matching resolution has already been approved by the House Financial Services Committee, and a final floor vote is still pending. According to the White House, President Trump is expected to sign the bill into law as soon as possible. Read more: U.S. SEC ends probe into Bored Apes NFTs creator Yuga Labs
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Bitcoin price started a fresh decline below the $90,000 zone. BTC is back below $88,500 and might struggle to regain bullish momentum. Bitcoin started a fresh decline below the $92,000 zone. The price is trading below $90,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $91,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline if it fails to stay above the $85,000 zone. Bitcoin Price Faces Resistance Bitcoin price started a fresh decline from the $95,000 resistance level . BTC traded below the $92,000 and $90,000 support levels. The price dived over 10% and traded below the $88,000 support zone. There was a clear move below the 50% Fib retracement level of the upward wave from the $84,500 swing low to the $95,000 high. Finally, the price tested the $82,000 support zone. A base was formed and the price is now recovering some losses above the $83,500 level. Bitcoin price is now trading below $90,000 and the 100 hourly Simple moving average . On the upside, immediate resistance is near the $88,750 level. The first key resistance is near the $90,000 level. The next key resistance could be $91,500. There is also a connecting bearish trend line forming with resistance at $91,000 on the hourly chart of the BTC/USD pair. A close above the $91,500 resistance might send the price further higher. In the stated case, the price could rise and test the $93,000 resistance level. Any more gains might send the price toward the $94,200 level or even $95,000. Another Decline In BTC? If Bitcoin fails to rise above the $90,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $85,000 level. The first major support is near the $83,200 level. The next support is now near the $82,250 zone and the 76.4% Fib retracement level of the upward wave from the $84,500 swing low to the $95,000 high. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,800. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $85,000, followed by $82,250. Major Resistance Levels – $90,000 and $91,500.