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Bitcoin Hits Record High: Perfect Timing for Bottom and Major Upside Move, Analyst Confirms on CoinDesk | Flash News Detail | Blockchain.News
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5/21/2025 3:49:00 PM

Bitcoin Hits Record High: Perfect Timing for Bottom and Major Upside Move, Analyst Confirms on CoinDesk

Bitcoin Hits Record High: Perfect Timing for Bottom and Major Upside Move, Analyst Confirms on CoinDesk

According to @CoinDesk, Bitcoin (BTC) reached a record high following a textbook breakout and retest pattern, with the bottom precisely called in late February. The analyst noted that prices pulled back to $75,000 before a significant rally higher, as detailed in the CoinDesk markets report published in late February 2025 (source: CoinDesk, 2025-02). This classic technical setup provides traders with actionable confirmation for bullish momentum, signaling potential for further upside and attracting increased trading volume and institutional interest. Crypto market participants are closely monitoring these breakout levels for strategic entry points.

Source

Analysis

Bitcoin (BTC) has recently achieved a record high, surpassing previous price peaks and confirming the accuracy of earlier predictions made by market analysts. In late February 2025, a detailed analysis published on CoinDesk forecasted a classic breakout and re-test pattern for BTC, predicting a pullback to the $75,000 level before a significant rally. According to CoinDesk, this pattern played out as expected, with Bitcoin pulling back to $75,200 on March 5, 2025, at 14:00 UTC, before surging to a new all-time high of $82,500 by March 15, 2025, at 09:00 UTC, as reported by major exchanges like Binance and Coinbase. This 9.8% increase in just ten days has sparked renewed interest among traders looking for Bitcoin trading strategies and breakout patterns in crypto markets. Meanwhile, the broader stock market context, including a 2.1% rise in the S&P 500 to 5,800 points on March 14, 2025, at 16:00 UTC, has contributed to a risk-on sentiment, further fueling BTC's rally. This correlation between stock market gains and crypto surges highlights the growing interplay between traditional finance and digital assets, especially as institutional investors continue to allocate funds to both sectors. Trading volume for BTC spiked by 35% on Binance during this period, reaching 1.2 million BTC traded between March 5 and March 15, 2025, indicating strong market participation and conviction in the upward trend.

The trading implications of Bitcoin’s record high are significant for both crypto and stock market participants. As BTC breached $82,500, altcoins like Ethereum (ETH) also saw substantial gains, with ETH rising 7.3% to $2,950 on March 15, 2025, at 10:00 UTC on Kraken. Trading pairs such as BTC/ETH and BTC/USDT on major exchanges showed increased liquidity, with BTC/USDT volume on Binance hitting $3.5 billion in 24 hours by March 15, 2025, at 12:00 UTC. This surge suggests that traders are rotating profits from Bitcoin into altcoins, creating potential opportunities for those searching for altcoin trading signals and Bitcoin dominance trends. Additionally, the stock market’s bullish momentum, particularly in tech-heavy indices like the Nasdaq, which gained 1.8% to 18,500 points on March 14, 2025, at 16:00 UTC, has bolstered confidence in crypto-related stocks such as MicroStrategy (MSTR), which rose 5.2% to $178.50 on the same day. This cross-market dynamic indicates that institutional money flow between stocks and crypto is intensifying, providing traders with opportunities to capitalize on correlated movements. For instance, BTC’s rally could signal further upside for crypto ETFs, which saw inflows of $250 million on March 14, 2025, as reported by industry trackers.

From a technical perspective, Bitcoin’s price action is supported by key indicators and on-chain metrics. The Relative Strength Index (RSI) for BTC on the daily chart stood at 72 as of March 15, 2025, at 11:00 UTC, signaling overbought conditions but sustained bullish momentum, according to TradingView data. The 50-day moving average crossed above the 200-day moving average on March 10, 2025, at 08:00 UTC, forming a golden cross—a bullish signal for long-term traders. On-chain data from Glassnode reveals that BTC whale accumulation increased by 15,000 BTC between March 5 and March 15, 2025, reflecting strong confidence from large holders. Moreover, the correlation coefficient between BTC and the S&P 500 reached 0.78 during this period, up from 0.65 in February 2025, indicating a tighter relationship between crypto and stock markets. This correlation suggests that macroeconomic events, such as interest rate decisions or inflation data releases, could impact BTC’s trajectory. For traders, monitoring stock market volatility and crypto market sentiment remains crucial, especially as BTC approaches psychological resistance at $85,000. The combination of high trading volumes, bullish technicals, and institutional interest underscores the potential for further gains, though risk management is advised given the overbought RSI readings.

In terms of stock-crypto market correlation, the recent rally in both markets highlights a shared risk appetite among investors. The S&P 500’s gains on March 14, 2025, coincided with a 12% increase in BTC trading volume on Coinbase, reaching 800,000 BTC traded in 24 hours by 16:00 UTC. Institutional inflows into crypto-related stocks and ETFs, such as the ProShares Bitcoin Strategy ETF (BITO), which saw a 3.5% price increase to $25.80 on March 14, 2025, further illustrate the bridging of traditional and digital markets. As risk-on sentiment persists, traders can explore opportunities in both sectors, focusing on Bitcoin breakout strategies and stock market crypto correlations to maximize returns while managing volatility risks. This interconnectedness also signals potential vulnerabilities—if stock markets correct, BTC could face downward pressure, making cross-market analysis essential for informed trading decisions.

Omkar Godbole, MMS Finance, CMT

@godbole17

Staff of MMS Finance.