Bitcoin price bounced 4% as data indicated an ‘89% chance’ that the stock market bottom is in. On March 11, Bitcoin (BTC) surged above $81,000 while US stock futures attempted to recover from a significant downturn. Data from Cointelegraph Markets Pro and TradingView revealed a nearly 4% increase in daily BTC price. The previous day witnessed new four-month lows in the Wall Street trading session as fears of a recession drove investors away from risk assets. The S&P 500 and Nasdaq Composite Index closed down 2.7% and 4%, respectively. Nasdaq 100 futures also showed a slight recovery from their lowest levels since September 2024. The Kobeissi Letter suggested that the market had entered an unsustainable downtrend, questioning the possibility of a massive short squeeze due to extreme fear sentiment among risk-asset investors. Meanwhile, analysis pointed towards a rough time ahead for Bitcoin despite the short-term rebound. Traders observed bullish signals on short timeframes, indicating a potential price increase in the near future. However, some analysts remained skeptical about a sustained recovery, with predictions that BTC\/USD might not reach all-time highs. The overall market sentiment was cautious, with concerns about a possible recession affecting all risk-off assets, including cryptocurrencies. This article provides insights into recent market movements and does not offer investment advice.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price bounced 4% as data indicated an ‘89% chance’ that the stock market bottom is in. On March 11, Bitcoin (BTC) surged above $81,000 while US stock futures attempted to recover from a significant downturn. Data from Cointelegraph Markets Pro and TradingView revealed a nearly 4% increase in daily BTC price. The previous day […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/63211"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=63211"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/63211\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=63211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=63211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=63211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}