Bitcoin (BTC) price has shown signs of recovery after dipping below $79k earlier this week. The flagship cryptocurrency surged 3 percent in the last 24 hours to trade at around $84,233 on Saturday, March 15, 2025. This mild rebound led to the liquidation of over $71 million from the leveraged Bitcoin market, predominantly affecting short traders.
Top Reasons Why Bitcoin Price Gained Today
Encouraging Inflation Data
In the past few days, major U.S. stock indexes such as the S&P 500 and the Nasdaq witnessed a slight recovery following positive inflation data. The U.S. Bureau of Labor Statistics reported that consumer prices rose less than expected last month despite ongoing tariff disputes. This positive economic news had a trickle-down effect on the broader crypto market, with Bitcoin leading the way in terms of price gains.
Cooled Leveraged Market
The cryptocurrency market experienced a period of relative calm over the past couple of days following a significant forced liquidation earlier in the week. The heavy liquidation of long traders, which previously triggered a long squeeze, created a more stable environment for a mild crypto recovery, particularly for Bitcoin. Additionally, the total Open Interest (OI) in Bitcoin futures increased by over 5 percent in the last 24 hours, reaching approximately $49 billion.
Gold Price Surge
Gold prices reached close to $3,000 per ounce for the first time in history earlier this week. Given that Bitcoin is often referred to as digital gold, the surge in gold prices likely contributed to the mild recovery of Bitcoin and other cryptocurrencies. This correlation between gold and Bitcoin has been observed in the past and is expected to continue in the coming days.
What Next?
After experiencing a nearly 30 percent correction since the second term of U.S. President Donald Trump, Bitcoin price is potentially nearing the bottom of the multi-week correction phase. The anticipated implementation of the U.S. strategic Bitcoin reserve has reignited bullish sentiment for a potential parabolic rally towards $108k in the near future.
However, demand for Bitcoin from whale investors remains relatively low compared to previous years. U.S. spot BTC ETFs have seen five consecutive weeks of outflows, and the overall supply of Bitcoin on centralized exchanges has not decreased significantly in recent weeks, indicating subdued demand from large investors.
FAQs
Bitcoin Price Prediction For March 15
According to expert analysis, Bitcoin price today could reach as high as $85,000.
How high can Bitcoin go in 2025?
According to Coinpedia’s BTC price prediction, Bitcoin could peak at $169,046 this year if bullish sentiment persists.
In conclusion, the recent price gains in Bitcoin can be attributed to a combination of positive economic data, a calmer market environment, and the surge in gold prices. While the short-term outlook appears bullish, long-term demand from institutional investors will be a key factor to watch in determining Bitcoin’s future price trajectory.