Bitcoin surged to a three-day high of $92,000 on March 6, 2025, as traders anticipated key developments from Friday’s White House Crypto Summit. Market speculation suggests President Donald Trump could unveil a zero capital gains tax on US-based cryptocurrencies, fueling bullish sentiment.
Additionally, Commerce Secretary Howard Lutnik hinted at a potential Bitcoin-only strategic reserve, further boosting investor confidence. MicroStrategy's Michael Saylor has also suggested that the US government may acquire 1 million BTC over four years, reinforcing bullish projections.
At the same time, upcoming US non-farm payroll (NFP) data is set to influence Bitcoin price volatility. February’s job report could determine the Federal Reserve’s next move on interest rates. A weaker-than-expected jobs report might signal economic slowdown, increasing the likelihood of rate cuts, which could be bullish for BTC. Conversely, stronger job numbers could prompt the Fed to maintain or raise rates, potentially dampening Bitcoin’s upward momentum.
Technically, Bitcoin remains in a high-demand range between $92,000 and $98,000. If bullish momentum sustains, BTC could break through $97,840, targeting the psychological $100,000 level. However, failure to hold gains may result in a pullback to $86,000. The Relative Strength Index (RSI) at 48 suggests BTC is recovering from oversold conditions, with a potential trend reversal on the horizon.
Bitcoin’s trajectory will hinge on market reactions to both Trump’s crypto policies and the NFP data. If speculation around tax incentives and institutional adoption gains traction, Bitcoin could see further upside, but macroeconomic uncertainty remains a key factor for traders.
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