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Bitcoin exhibits a bullish outlook, primarily driven by robust global interest. Global momentum behind Bitcoin appears to be gaining new support, with emerging interest from Asian and Middle Eastern nations. Recent discussions indicate that key economic players in the Gulf region are mulling over plans to invest in the world’s leading cryptocurrency, while China is reportedly assessing its options to join this strategic shift. Should the United States move forward with a Bitcoin reserve framework, further institutional adoption might follow.
• The entire U.S. government is bullish.
• National crypto adoption is going parabolic.
• Trump just signed an executive order for a strategic #Bitcoin reserve.
• The U.S. plans to buy 1 million BTC very soon.Yet, everyone is fearful? 🤔 pic.twitter.com/ubrGsVNFfR
— Coinvo (@ByCoinvo) March 8, 2025
The speculation underscores a broader trend of cryptocurrencies being incorporated into national financial strategies amid evolving economic uncertainties. Observers highlight that China, with its established mining infrastructure, could reactivate operations swiftly, utilizing its abundant hydroelectric resources. Additionally, precedents in nations like Iran, where digital mining has served as a means to bypass international sanctions, suggest that BTC may be seen as a hedge against economic instability. These developments collectively hint at a bullish outlook for Bitcoin’s future.
Key BTCUSD Levels To Watch – March 9
BTCUSD has tapped into the Fair Value Gap (FVG) zone around $81,000, forming a potential reversal area. The RSI (Relative Strength Index) is showing bullish divergence, indicating that selling momentum is weakening.
A breakout above the descending trendline and $90,000 resistance could confirm a strong bullish move. The next key targets are $100,000 and $108,400, with the potential for further upside if the momentum continues.
Bitcoin Key Levels
Resistance Levels: $100,000, $108,400, $115,000
Support Levels: $85,010, $66,780, $53,500
Bitcoin Metrics
Total Market Capitalisation: $2.68T
Bitcoin Market Capitalisation: $1.63T
Bitcoin Volume: $26.42B
Market Rank: #1
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