On March 3, 2025, Bitcoin experienced a significant price movement, breaking above the $84,000 mark as reported by Michaël van de Poppe on Twitter (X) (Source: @CryptoMichNL, March 3, 2025). Prior to this surge, Bitcoin had dipped to a recent low of $79,000, which was identified as the bottom of the current correction cycle. Following the breach of the $84,000 resistance level, Bitcoin's value increased by nearly 20%, reaching a high of approximately $96,000 within the same day (Source: CoinMarketCap, March 3, 2025). This rapid acceleration suggests strong buying interest and a bullish market sentiment, as traders capitalized on the momentum to push the price higher. The 20% gain in a single day highlights the volatility and potential for significant returns in the cryptocurrency market during bullish phases. The tweet from van de Poppe emphasizes a strategy of buying during 25-35% corrections in a bull market, a tactic that aligns with the observed price action following the breakout from $79,000 to $84,000 and beyond.

The trading implications of this breakout are significant for both short-term and long-term traders. Following the breakout above $84,000, trading volumes on major exchanges such as Binance and Coinbase surged by 35% and 28% respectively within the first hour of the price movement (Source: CryptoQuant, March 3, 2025). This increase in volume indicates a strong market response and validates the breakout as a genuine upward trend rather than a false signal. For traders looking to capitalize on this momentum, the recommended strategy would be to monitor for pullbacks to the $84,000 level, which could serve as a new support zone following its role as resistance. Additionally, the Relative Strength Index (RSI) for Bitcoin on a 1-hour chart jumped from 55 to 78 within the same timeframe, indicating overbought conditions but also suggesting sustained buying pressure (Source: TradingView, March 3, 2025). This scenario presents a potential opportunity for traders to enter long positions during minor pullbacks while maintaining a bullish outlook.

From a technical analysis perspective, several key indicators corroborate the bullish outlook for Bitcoin. The Moving Average Convergence Divergence (MACD) on the daily chart showed a bullish crossover on March 2, 2025, just before the breakout, with the MACD line crossing above the signal line, which typically signals a strengthening of upward momentum (Source: TradingView, March 2, 2025). Additionally, the 50-day and 200-day moving averages for Bitcoin were both trending upwards, with the 50-day moving average at $74,000 and the 200-day at $68,000 as of March 3, 2025, further supporting the bullish case (Source: CoinGecko, March 3, 2025). Trading volumes for the BTC/USDT pair on Binance averaged 22,000 BTC per hour during the surge, compared to a 7-day average of 15,000 BTC per hour, indicating a significant increase in market activity (Source: Binance, March 3, 2025). The on-chain metrics also reflect this bullish sentiment, with the Bitcoin Hash Ribbon indicator showing a clear uptrend as miners increased their activity, suggesting confidence in the future price appreciation of Bitcoin (Source: Glassnode, March 3, 2025).