Bitcoin (BTC) fell sharply after U.S. President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve.
Instead of triggering a bullish reaction, however, the announcement turned into a classic ‘sell the news’ event, with Bitcoin crashing from $92,000 to below $85,000 before stabilizing around $88,000 at press time.
The cryptocurrency had rebounded from $83,000 to $92,000 earlier in the week ahead of the White House Crypto Summit on March 7. However, investor sentiment soured after the order failed to outline a buying strategy, instead relying on seized Bitcoin assets with no immediate impact on the market.
At the same time, some analysts see this as a move that could encourage other nations to follow suit, further legitimizing Bitcoin.
Adding to the mix, fresh U.S. job data added to market speculation, with nonfarm payrolls increasing by a seasonally adjusted 151,000 for the month, in line with expectations, while unemployment edged up to 4.1%, fueling optimism over potential rate cuts by the Federal Reserve.
Finbold AI predicts Bitcoin price target for March 31
As Bitcoin hovers around its current level, Finbold’s AI-powered prediction tool has provided an updated outlook for its trajectory leading up to March 31, 2025. Based on technical indicators and market trends, the model forecasts an average BTC price of $102,938, reflecting a 16.34% gain from its price at the time of prediction of $87,139.
Despite the overall bullish projection, AI models show a range of potential outcomes. The most optimistic forecast, generated by Claude 3.5 Sonnet, anticipates a 21.22% surge, which would place BTC around $107,217 by early April.
Meanwhile, Grok 2 Vision presents a more cautious outlook, forecasting a 12.46% increase, translating to a price of $99,484.
Analyst take on BTC
Despite lingering mixed sentiment, the broader trend remains bullish. According to an analysis by TradingShot, Bitcoin is expected to consolidate sideways throughout March, attempting to establish a firm bottom before making a decisive move. Historical price trends suggest that a potential breakout could unfold within a month.
At the same time, CryptoQuant analysts note that Bitcoin is currently in a pullback phase, with liquidity constraints preventing a breakout. Short-term rallies may face resistance, and a sustained uptrend is unlikely until Bitcoin enters a new accumulation phase.
Until long-term holder accumulation resumes, analysts warn that Bitcoin may struggle to sustain upward momentum, delaying a decisive breakout.
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