US Cryptocurrency Usage Surges to 12% in March
- Usage Rate Recovery: According to Deutsche Bank's report, cryptocurrency usage in the US surged from 7% in February to 12% in March, marking the first significant rebound since July 2023, indicating renewed market interest in crypto assets.
- Increased Institutional Demand: Net inflows into Bitcoin ETFs reached approximately $1.3 billion in March, signaling a return of institutional investors following early-year market volatility, which accelerated the recovery of the crypto market and pushed Bitcoin's price close to $70,000.
- Cautious Market Outlook: Despite Bitcoin gaining nearly 9% in March, investors remain cautious about future prices, with 19% of respondents predicting prices will fall between $20,000 and $60,000 by the end of 2026, reflecting fragile confidence in the crypto market.
- Demographic and Income Disparities: The report highlights that crypto adoption is primarily concentrated among men and higher-income groups, yet interest is gradually increasing among women and lower-income segments, particularly in the UK, where participation among younger users has significantly risen, indicating shifting market dynamics.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 70192.879 | 72507.224 | 74856.969 | 77171.314 | 79521.059 | 81835.404 | 84185.149 |
| Fibonacci | 72507.224 | 74288.907 | 75389.632 | 77171.314 | 78952.997 | 80053.722 | 81835.404 |
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