Bitcoin prices bounce back to 4% as data gives you an “89% chance.”

Bitcoin (BTC) rebounded over $81,000 on March 11 as futures in US stocks sought relief from brutal sale.

BTC prices bounce back in search of shorter apertures

Data from Cointelegraph Markets Pro and TradingView showed that daily BTC prices are approaching 4%.

A new four-month low was accompanying Wall Street trading session the previous day, as fears of a recession could escapade risk asset investors.

The S&P 500 and Nasdaq Composite Index fell by 2.7% and 4%, respectively. At the time of writing, the Nasdaq 100 futures had recovered about 0.4% from travel to the lowest level since September 2024.

Comment, a letter from trading resource Kobeissi suggested that the market has entered an unsustainable falsehood.

“Are we behind due to a large short squeeze?” queried in the X thread, focusing on risk asset feelings in the realm of “extreme fear.”

“Even bears seeking a long-term bear market should see some relief rallies. The market will not move in the long term. Ultimately, a short (tradeable) squeeze is inevitable.”

Kobeissi et al. claimed sustained recovery, referring to unusually high measurements from the Vix Volatility Index.

“$VIX dates back to 1990 and only 11% back to 1990,” continued Timothy Peterson, a network economist who created several Bitcoin price prediction tools.

“To put it another way, there's an 89% chance that today has gone down.”

Bitcoin analysis shows “very rough time” first

So Bitcoin saw much needed upside in a short time frame after reaching $76,600 on BitStamp.

Related: The biggest red weekly candle history: 5 things you need to know about Bitcoin this week

“$BTC had bullish divergence over the 4H time frame,” Trader Cas Abbe said while analyzing the relative strength index (RSI) signal.

“I'm not saying this is a reversal, but the short-term pump is now imminent.”

Previously, I told trader and analyst Rekt Capital to monitor similar RSI queues on Daily Chart to see a more sustainable BTC price comeback.

Zooming out, participants in other popular crypto markets remained pessimistic. Among them was the kana X Trader HTL-NL, who concluded that BTC/USD is unlikely to meet the all-time high.

“Before I think this is happening specifically with Crypto, that's not,” another of his latest posts said along with the S&P 500 futures chart.

“It happens to all risk-off assets. It's probably called a recession. We're having a very tough time.”

This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.