- Bitcoin stabilizes around $87,000 on Tuesday after extending a recovery over the past two days.
- A Crypto Finance report highlights that the crypto market followed the broader risk momentum, displaying a classic beta response to traditional markets.
- Traders should be cautious as the defunct cryptocurrency exchange Mt. Gox moved $1 billion worth of BTC.
Bitcoin (BTC) stabilizes at around $87,000 at the time of writing on Tuesday after extending a mild recovery over the past two days. A Crypto Finance AG report highlighted that the crypto market followed the broader risk momentum, displaying a classic beta response to traditional markets, while Microstrategy (MSTR) announced it had acquired 6,911 BTC for $584.1 million. However, traders should be cautious, as the defunct cryptocurrency exchange Mt. Gox moved $1 billion worth of BTC.
Bitcoin price mirrors traditional markets
Bitcoin price started this week on a positive note, reaching a high of $88,765 on Monday. Meanwhile, the US stock markets had their best start to a Monday since 2022, which was fueled by hopes that Trump’s tariff announcement on April 2 would be less onerous than expected.
On Tuesday, a Crypto Finance AG report highlighted that the crypto market followed the broader risk momentum, displaying a classic beta response and correlating to traditional markets.
The report explains that the futures open interest remains subdued, reflecting a lack of demand for leverage. The same applies to options, where 30-day BTC implied volatility is trading at 46v—a 25v discount to the last 30-day realized volatility—implying a ±5.5% move over the next month. This sets key support at around $82,000 and resistance at around $91,500, with demand for downside protection still elevated. “I see value in accumulators at these levels,” says a Crypto Finance AG analyst.
MicroStrategy acquires 6,911 BTC
Bitcoin’s recovery was fueled by the announcement that Michael Saylor’s Microstrategy (MSTR) had acquired 6,911 BTC for $584.1 million at an average price of $84,529 per Bitcoin and has achieved a BTC Yield of 7.7% YTD in 2025. The firm holds 506,137 BTC acquired for $33.7 billion at an average price of $66,608 per Bitcoin.
$MSTR has acquired 6,911 BTC for ~$584.1 million at ~$84,529 per bitcoin and has achieved BTC Yield of 7.7% YTD 2025. As of 3/23/2025, @Strategy holds 506,137 BTC acquired for ~$33.7 billion at ~$66,608 per bitcoin. $STRK https://t.co/3vSGnTUVcE
— Michael Saylor⚡️ (@saylor) March 24, 2025
“The only way Bitcoin won’t collapse is if MSTR continues buying indefinitely. But at some point, you will not be able to sell any more MSTR stock or borrow money to keep buying. Then, both Bitcoin and MSTR will crash, sending MSTR into bankruptcy,” said Chief Economist & Global Strategist Peter Schiff in his X post.
Some signs of concern
Arkham intelligence data shows that the defunct cryptocurrency exchange Mt. Gox moved $1 billion worth of BTC on Tuesday. First, 893 BTC were moved to the Mt. Gox Hot Wallet, and 10,608 BTC were moved to another wallet.
Traders should be cautious, as transferring such a large amount of Bitcoin to wallets often signals an intent to sell or distribute and can create a bearish sentiment as market participants anticipate increased supply.
ARKHAM ALERT: MT GOX MOVING $1B $BTC
— Arkham (@arkham) March 25, 2025
893 BTC were moved to Mt. Gox Hot Wallet [1Jbez] and 10608 BTC were moved to change wallet 1DcoA. pic.twitter.com/akr3hqSasD
Bitcoin Price Forecast: BTC bulls target $90,000 level
Bitcoin price broke and closed above its 200-day Exponential Moving Average (EMA) at around $85,500 on Sunday and rose 4.45% until Monday. At the time of writing on Tuesday, BTC hovers around $87,000.
If BTC finds support around its 200-day EMA at $85,539, it could extend the recovery to retest the key psychological level of $90,000. A successful close above this level could extend an additional rally toward its March 2 high of $95,000.
The Relative Strength Index (RSI) on the daily chart reads 51, above its neutral level of 50, indicating increasing bullish momentum. The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on the daily chart last week, giving a buy signal and suggesting a bullish trend ahead. Additionally, it shows rising green histogram levels above its neutral level of zero, indicating strength in upward momentum.
BTC/USDT daily chart
However, if BTC fails to find support around its 200-day EMA and closes below $85,000, it could extend the decline to retest its next support level at $78,258.
Bitcoin, altcoins, stablecoins FAQs
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
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