Matthew Hyland reveals BTC could be close to forming a new bottom market position because he studies its weekly chart position. Hyland states in his social media post that if Bitcoin closes above $89,000 weekly it will indicate a potential market bottom and signal an upcoming price recovery.

On March 9 Bitcoin reached $89,000 as its highest point before declining sharply. The cryptocurrency’s ascent to $89,000 ended when BTC faced growing financial market risk factors. Bitcoin’s price break happened because US President Donald Trump’s trade tariffs were hurting several nations according to Hyland’s expert assessment. 

Bitcoin Needs Weekly Close Confirmation

Data from Binance shows that Bitcoin declined quickly when it could not hold above $89,000 during the price drop of March 10 bringing the price down to $76,606. Market participants detect modest positive feelings about the market present and future. The US CPI inflation results below predictions helped Bitcoin recover from its dip and trade near $80,000 at present. 

The market may reach its bottom position when Bitcoin maintains trading above $89,000 for an entire week according to Hyland’s analysis. The analyst Yonsei_dent uses CryptoQuant data to analyze STH Realized Price and its impact on Bitcoin price movements. The Realized Price shows investors their regular buying rates for their Bitcoin holdings. 

Based on current price data statistics STH Bitcoin holders who bought the asset within the last six months still anticipate a loss on their investment since the average Realized Price stands at $91,800. Short-term investors with Bitcoin losses will likely sell more because they stand to lose value if Bitcoin fails to reach its important barriers.

Long-Term Holders Provide Support

This subset of STHs who hold Bitcoin for three to six months shows firm resistance at $86,100 because they own the asset for the longest. Most Bitcoin holders with two to six months of ownership would likely exit their positions and reduce prices in case market trends turn negative. 

The long-term Bitcoin owners who have kept the cryptocurrency for six up to twelve months stand strong with a support level of $63,700 because their Realized Price sits much lower than short-term holders. Industry expert Arthur Hayes believes that BTC bottom prices will likely align with the $70,000 mark when it fails to surpass the current resistance barriers. 

Multiple technical signals demonstrate that BTC remains below market value raising chances it may recover from present market conditions. The market tends to be more optimistic when BTC stands at $81,745 during the present hour while increasing 0.7% from yesterday.

Investors watch the approaching market levels to determine if Bitcoin has bottomed out or if more uncertainty lies ahead. Markets will test how long this recovery phase will last before deciding if it represents the start of a lasting rally or another brief relief.