- Bitcoin has a 76% probability of hitting $95K by March 31, with a 50% chance of reaching $100K, per Polymarket data.
- Bollinger Bands indicate resistance at $101K and support at $82K, with Bitcoin hovering around the $91,886 middle band.
- Market sentiment remains bullish, with 79% of 1.6M votes optimistic about Bitcoin’s future amid moderate trading volume.
On March 6th, at press time, Bitcoin was trading at $91,227.62, a 3.07% gain in the last 24 hours. The digital asset increased by 5.68% over the past week but remained 7.72% lower over the past month.
BTC market cap is at $1.8 trillion, up 2.97%, while the fully diluted valuation (FDV) is $1.91 trillion. Bitcoin’s total circulating supply was 19.83 million BTC out of a maximum supply of 21 million BTC. According to CoinMarketCap data, 79% of 1.6 million community votes were bullish on Bitcoin’s future, while 21% were bearish.
Market Predictions Indicate Strong Probability of $95K
Data from Polymarket shows various probability estimates for Bitcoin’s price levels by March 31. The probability of Bitcoin reaching $100,000 is at 50%, while $95,000 has a 76% chance.
The likelihood of hitting $110,000 is at 20%, while $120,000 has an 8% probability. Prices of $130,000 and above remain less likely, with only a 4% chance for $130,000 and a 1% chance for $200,000. Lower price targets show a declining probability.
The odds of Bitcoin dropping to $80,000 are at 43%, while a decline to $75,000 is estimated at 27%. The probability of falling to $70,000 is only 13%, and dropping below $60,000 has a 5% chance. A fall to $40,000 is highly unlikely, with only a 1% probability.
Indicators Show Bitcoin at Critical Levels
On March 6, Bitcoin’s daily high was $92,910.96, while the low reached $89,998.21. Bollinger Bands show key resistance and support levels. The upper band is at $101,615.96, a major resistance level.
The middle band, or 20 day simple moving average, is at $91,886.93, where Bitcoin is currently hovering. The lower band is at $82,157.90, acting as a critical support level. BTC recently dipped below the middle Bollinger Band, indicating bearish pressure.
However, the latest rebound suggests potential recovery. If Bitcoin holds above $91,886, upward momentum toward $95,000 and $100,000 could strengthen. Trading volume is moderate, while accumulation and distribution levels at 130.17 million indicate continued investor interest.
Resistance levels are at $95,000, $100,000, and $101,615, while support is at $90,000 and $82,157. Bitcoin’s price direction will depend on whether it maintains support above key levels or breaks resistances.
