Bitcoin closed March on a rather interesting note for market players, most of whom were excited for a strengthened price rally. On Monday, the big bull appeared to have built momentum over the weekend after sustaining mild gains and clearing out weekly losses.
However, as data from Santiment displayed, retail traders made a bold call, expecting the asset to revisit $100,000, a 21.45% upswing from its opening price of $82,336.
Historically, since the start of 2025, the pronouncement of bold price calls fueled by FOMO during a budding rally has resulted in an opposite trade.
Yesterday was no different, as Bitcoin’s rebound back to $83,900 was short-lived. “As has been the norm throughout 2025, when the crowd begins leaning too far in one direction, prices continue to move in the opposite.” Santiemnt asserts.
The same pattern was spotted on March 23rd, March 25th, and March 29th, with price reversals following a fresh bullish buildup.
Bitcoin successfully overcomes resistance at $84,000, and Q2 expectations are heavily bullish
On March 30th, Bitcoin failed to sustain momentum at the $96,900 high and remained in a defined downtrend before successfully overcoming resistance at $84,000 in the early hours of April.
For a confirmed upward trend reversal, Bitcoin bulls will have to overcome fresh resistance levels at $88,000 and $90,000 in the near term. At the time of this report, Bitcoin has soared by 3.02% over the last 24 hours to trade at $84,304 per coin.
Expectations for the second quarter are still very bullish. Market observers note that April has historically been a promising month for Bitcoin, with an average price rally of 11.26% recorded since 2011. Additionally, another analyst asserts that the highly anticipated “altcoin season” might depend on a key move from Bitcoin to kick off.