Bitcoin price locked in a tight range for three days despite whale accumulation
BTC stalls near $89K resistance
Bitcoin price recent rally has stalled below $89,000, with the price locked in a range between $85,500 and $88,900 over the past three days.
As of Thursday, March 27, Bitcoin is trading around $87,000 after a modest 1% gain in the Asian session. The price is encountering resistance near the Fibonacci golden ratio, signaling hesitation among traders.
The slowdown in Bitcoin’s uptrend coincides with recent macroeconomic developments that should support its uptrend. The release of softer-than-expected U.S. Consumer Price Index (CPI) inflation data for February has tempered fears of aggressive Federal Reserve rate hikes, keeping risk appetite in play. Additionally, reports that the U.S. President Donald Trump is taking a more lenient stance on retaliatory tariffs, further stabilizes market sentiment. However, despite these supportive factors, Bitcoin has yet to break above $89,000, suggesting that traders are waiting for stronger confirmation before driving the price higher.
Golden cross on the 4-hour chart strengthens bitcoin’s bullish outlook
BTC/USD price dynamics (March 2025). Source: TradingView
On the technical front, the four-hour chart shows a golden cross formation between the 50 and 100 exponential moving averages (EMA) near $85,500, reinforcing a bullish structure. Additionally, both the daily and four-hour Relative Strength Index (RSI) are in bullish territory, suggesting that momentum is favoring further upside.On-chain data also supports the upside notion, as large Bitcoin holders often called whales have resumed accumulation. According to crypto analyst Ali Martinez, 48 new wallets now hold at least 100 BTC, reflecting renewed confidence in Bitcoin’s long-term value.
Despite the bullish technical and on-chain signals, Bitcoin’s inability to break $89,000 raises concerns about potential profit-taking at higher levels. If sellers continue to defend this resistance, Bitcoin could remain range-bound or face a pullback below $85,500. Traders will be closely monitoring macroeconomic updates and whale activity for further confirmation of Bitcoin’s next move.
Bitcoin saw over $220 million in net outflows from exchanges, signaling reduced selling pressure. The price rebounded from its March low but remained in a broader downtrend.
