Bitcoin Faces High Risk of Deeper Correction, Analyst Warns
- Bitcoin is trading at $80,916, down 3.2% in the last 24 hours.
- Analyst Justin Bennett highlights Bitcoin’s failure to regain $92,000 as support.
- Bennett warns that Bitcoin remains at risk if it doesn’t close March above $92,000.
- The US Consumer Price Index came in lower than forecast after January’s high numbers.
- Bennett notes Bitcoin’s historical correlation with stock performance, particularly the S&P 500.
Crypto analyst Justin Bennett cautions that Bitcoin’s market structure is weakening due to its inability to regain the $92,000 support level. Despite some market strength this month and a lower-than-expected US CPI, Bitcoin remains vulnerable unless it closes March above this key threshold.
Source (2.6)https://dailyhodl.com/2025/03/14/theres-every-reason-to-be-cautious-trader-issues-alert-on-bitcoin-amid-major-resistance-heres-his-outlook/?rand=59076
