As of noon on March 1, 2025, Bitcoin has recorded a significant recovery after falling near $78,000 on Friday. Currently, the world's largest cryptocurrency has returned to the 85,000 USD zone, somewhat erasing fears of a deeper recession.
Data from Coinbase shows that spot buying power is overwhelming selling power, a signal that long-term investors still trust Bitcoin. In addition, liquidating high leverage positions in the futures market also helps BTC prices become more stable.
CryptoQuant founder and CEO Ki Young Ju said that the massive sell-off after the 26 part correction could be a mistake by the rookie, as Bitcoin had hit an all-time high after falling 53% in 2021.
In addition, some whale sharks appear to be accumulating Bitcoin during this adjustment period.
A Bitcoin whale nicknamed Spoofy has purchased 4,000 BTC worth about 344 million USD with prices ranging from 82,000 USD to 85,000 USD.
According to Mr. Hoang Tan Viet, an investor in Vietnam, this recovery can come from two main reasons:
After the Fear and Lam index nearly hit bottom at the end of February, investor sentiment has shown signs of improvement. Purchasing power from large financial institutions, especially spot-backed Bitcoin ETFs, has helped the market recover.
According to technical analysis, the 78,000 - 80,000 USD zone is a strong support for Bitcoin. The price bounce from here shows that the beef (investors who are optimistic about asset prices, believe that the market will increase) are still controlling the market and not letting BTC prices slide further.
According to PV's research, not only Bitcoin, many other cryptocurrencies are also showing signs of recovery.
In Vietnam, representatives of the State Bank have repeatedly sent out the message: Bitcoin and other similar virtual currencies are not legal currencies and payment methods. The issuance, supply, and use of Bitcoin and other similar cryptocurrencies as a means of payment is an act that is not in accordance with current law.
