1. Bitcoin Market

From March 10 to March 14, 2025, the specific trends of Bitcoin are as follows:

March 10: Bears Dominate the Market, Breaking Key Support Level

On March 10, Bitcoin showed an overall downward trend, with bears dominating the market, and the price fell below the key support level of $80,000.

On that day, Bitcoin briefly rebounded after falling from around $83,000 to $82,327, but then further declined to $80,232. Although the market attempted to rebound, the price once rose to $83,552, but the upward pressure could not be sustained, and Bitcoin fell again, breaking below the $80,000 mark, reaching a low of $79,639.

March 11: Accelerated Decline Followed by Quick Rebound, Intense Bull-Bear Struggle

Continuing the decline from the previous day, Bitcoin further fell on March 11, hitting a low of $77,703 before briefly rebounding to $79,642. However, bearish sentiment remained strong, and the market quickly broke through the $77,000 support level, dropping to a low of $76,905. Subsequently, market sentiment quickly recovered, and Bitcoin rebounded strongly to $81,961, eventually stabilizing around $81,250.

March 12: Intense Struggle Between Bulls and Bears, Increased Short-Term Volatility

On March 12, Bitcoin's price rose to $83,341 and maintained fluctuations above $82,480. Around 10 AM, bears exerted pressure again, pushing the price down rapidly from $83,962 to $80,896. Despite the significant drop, it did not break below the $80,000 mark, indicating clear short-term market contention.

March 13: Surge Followed by Decline, Once Again Breaking Below $80,000

On March 13, Bitcoin quickly stabilized and resumed an upward trend, peaking at $84,163 before facing pressure and retreating. It then oscillated downward, breaking below $80,000 again, reaching a low of $79,986, with the market overall showing a pattern of surging and then correcting.

March 14: Range-bound Fluctuations, New Trend Awaiting Confirmation

On March 14, Bitcoin oscillated within the range of $80,000 to $85,000, gradually starting a new upward trend. As of the time of writing, the price had risen to $81,850, with the market direction still awaiting further confirmation.

Summary

On March 14, the price stabilized and rebounded, but the overall trend remains unclear, with the market still in a range consolidation phase, requiring further observation for subsequent breakout directions. Recently, the market has shown significant volatility, but the support below remains relatively solid. Long-term investors may look for low-entry opportunities while assessing the macro market and capital flow to judge the medium to long-term trend. Attention should be paid to changes in market sentiment, especially the impact of external macro factors on Bitcoin's trend, such as the Federal Reserve's monetary policy, market liquidity conditions, and institutional capital movements.

Bitcoin Price Trends (2025/03/10-2025/03/14)

2. Market Dynamics and Macro Background

Capital Flow

• Whale Holdings and Exchange Flows:

Whales have acquired approximately 60,000 BTC over the past month, marking one of the most aggressive accumulation phases in recent history, indicating strong demand from institutional and large investors in the market.

Meanwhile, CryptoQuant community analyst Darkfost pointed out that whale selling activity on Binance is slowing down, as the whale ratio measuring the top 10 inflows to the exchange is decreasing, indicating that the selling pressure from whales is diminishing, and the amount of Bitcoin sold is starting to decrease. However, Bitcoin miners may become a new source of selling pressure. Analysts believe that miners are experiencing a market condition similar to that after the recent Bitcoin difficulty adjustment, which typically precedes large-scale selling by miners (miner capitulation) or may further impact the market.

• Exchange Capital Inflows:

As of March 12, 2025, the total market capitalization of the cryptocurrency market was $2.74 trillion, with a total trading volume of $137.92 billion, down 25.1% from the previous trading day, indicating a slowdown in market trading activity.

Technical Analysis

• Key Support and Resistance:

Bitcoin's price touched a long-term support trend line that has been maintained for 2 years and 4 months, with significant lower shadows on the weekly chart indicating strong buying interest at these levels, suggesting the potential for a bullish reversal or continued upward movement.

Additionally, BitMEX co-founder Arthur Hayes shared his market view on March 10, stating that Bitcoin may retest the $78,000 support level, and if it breaks below, the next key support level is at $75,000. He also noted that there is a large amount of open interest (OI) in options clustered in the $70,000 - $75,000 range, which could trigger more intense market volatility if the price enters that range.

Overall, Bitcoin has received support multiple times around the $80,000 mark this week, indicating that this level is an important psychological barrier for the market. Meanwhile, the $84,000 to $85,000 area has formed strong resistance, limiting the upward space.

• Indicator Analysis:

• RSI (Relative Strength Index): The RSI is sloping downward on the daily chart, indicating that the potential momentum of Bitcoin's price trend is negative.

• MA (Moving Average): Bitcoin's 50-day moving average (MA) is $0.165, and the 200-day moving average is $0.150, both below the current price, indicating a bullish trend in the medium to long term.

• MACD (Moving Average Convergence Divergence): The MACD is flashing red histogram bars below the neutral line, indicating that the potential momentum of Bitcoin's price trend is negative.

Market Sentiment

On March 11, Bitcoin's price fell below $80,000 again within 24 hours, hitting a low of $76,000, and market panic spread. As of March 13, 2025, Bitcoin's price dropped 3% to $81,148, with market sentiment low and centralized exchange trading volume down 21%.

Recently, Bitcoin market sentiment has become cautious. Technical indicators show oversold conditions, the derivatives market remains resilient, and ETF capital inflows are recovering. Macroeconomic pressures and policy changes are influencing market trends, with the U.S. government establishing a Bitcoin strategic reserve, which may drive long-term opportunities. In the short term, attention should be paid to key support levels, while long-term investors can focus on policies and institutional behaviors.

Macro Background and Industry News

• Macroeconomics:

• U.S. Economic Data: The U.S. Consumer Price Index (CPI) rose 2.8% year-on-year in February, lower than the expected 2.9%, indicating a slowdown in inflation.

• Federal Reserve Policy: The market expects the Federal Reserve to start cutting interest rates in June, with three potential 25 basis point cuts within the year.

• Industry News:

• U.S. Bitcoin Strategic Reserve: U.S. President Trump signed an executive order to advance the establishment of a strategic Bitcoin reserve, incorporating Bitcoin into the national reserve framework.

• EU Tariff Impact: Analysts pointed out that retaliatory tariffs from the EU could lead to a Bitcoin pullback to $75,000.

Overall, from March 10 to March 14, 2025, Bitcoin's price was influenced by multiple factors including capital flow, technical factors, market sentiment, industry news, and macroeconomic background, showing significant volatility.

3. Hash Rate Changes

From March 10 to March 14, 2025, the Bitcoin network hash rate exhibited fluctuations, as detailed below:

On March 10, the Bitcoin network hash rate fell from 827.66 EH/s to 782.83 EH/s, then slightly rebounded to 846.22 EH/s. After a brief adjustment, the hash rate dipped again to 753.63 EH/s, quickly rebounding to 901.00 EH/s, showing overall significant volatility. On March 11, the hash rate fluctuated between 850 EH/s and 900 EH/s, briefly breaking through 900 EH/s, peaking at 907.63 EH/s. However, this level could not be maintained, and the hash rate quickly fell back to 753.88 EH/s, then entered a new upward channel. On March 12, the hash rate continued the upward trend from the previous day, first rising to about 800 EH/s and quickly climbing to 918.26 EH/s. Subsequently, the hash rate briefly stabilized around 910 EH/s, then fell back to 834.06 EH/s, maintaining relative stability within that range. On March 13, the hash rate rose to 923.34 EH/s, briefly fell to 835.68 EH/s, then rebounded to 879.06 EH/s, before starting a downward trend. On March 14, continuing the downward trend from the previous day, the hash rate fell to 854.78 EH/s and continued to decline, ultimately approaching 800 EH/s. Overall, the hash rate exhibited significant fluctuations during this period, reflecting frequent changes in the network's computing power.

Bitcoin Network Hash Rate Data

4. Mining Revenue

From March 10 to March 14, 2025, Bitcoin miners' earnings were influenced by multiple factors, including Bitcoin price fluctuations, mining difficulty adjustments, and market sentiment.

Bitcoin Network Difficulty Adjustment

According to CloverPool data, Bitcoin mining difficulty was adjusted upward by 1.43% to 112.15T at block height 887,040 (Beijing time March 9, 2025, 23:58:46), approaching historical highs (114.17). According to Hashrate Index data, the average computing power across the network over the past seven days is 834.27 EH/s.

The increase in mining difficulty means that miners need to invest more computing power to obtain the same Bitcoin rewards, which may lead to a decrease in revenue per unit of computing power. However, as some high-cost miners may exit the market due to declining profits, the network's computing power may decrease, potentially leading to a reduction in mining difficulty in future adjustments, providing some relief for remaining miners.

Bitcoin Price Trends

As of March 14, 2025, Bitcoin's price fluctuated between $76,500 and $85,000. The decline in Bitcoin's price directly affects miners' dollar-denominated income, leading to a shrinking profit margin, which may put some high-operating-cost miners at risk of losses.

Miners' Response Strategies

In the face of price fluctuations and profit pressures, some miners choose to hoard Bitcoin, hoping to sell when prices rebound for higher returns. For example, Bitcoin miners in the U.S. are opting to accumulate cryptocurrency amid shrinking profit margins to cope with intensified resource competition.

Additionally, miners can maintain profitability by improving equipment efficiency and reducing electricity costs. Notably, long-term holders have increased their holdings by 131,000 BTC over the past month, reflecting confidence in Bitcoin's future value.

Overall, from March 10 to March 14, 2025, the decline in Bitcoin prices and the rise in mining difficulty negatively impacted miners' revenues. However, miners still have opportunities to maintain profitability amid market fluctuations by adjusting strategies and optimizing operations. In the future, market sentiment and macroeconomic factors will continue to influence Bitcoin price trends, and miners should closely monitor market dynamics to formulate effective response strategies.

5. Energy Costs and Mining Efficiency

According to CloverPool data, Bitcoin mining difficulty was adjusted upward by 1.43% to 112.15T at block height 887,040 (Beijing time March 9, 2025, 23:58:46), approaching historical highs (114.17T). This adjustment reflects the ongoing growth of Bitcoin network computing power, as miners on the network invest more computing power to compete for more block rewards. As of the time of writing on March 14, the total computing power of the Bitcoin network had reached approximately 829.35 EH/s, while the current mining difficulty was 112.15T. Based on current trends, it is expected that the Bitcoin mining difficulty will be further increased by about 1.07% to 113.34T in the next difficulty adjustment (approximately in 8 days).

According to the latest data from MacroMicro, the current total production cost of Bitcoin is approximately $84,690.49, with a Mining Cost-to-Price Ratio of 1.01. This means that the cost for miners to produce one Bitcoin is nearly on par with the market price, resulting in relatively small profit margins for miners. This ratio reflects the operational pressure on miners, especially in the context of significant Bitcoin price fluctuations, making their profitability more sensitive.

In this context, miners not only need to continuously improve mining efficiency but also optimize energy usage to ensure profitability amid fierce competition. In the future, the computing power of the Bitcoin network is expected to continue growing, and miners may need to rely more on advanced cooling technologies and renewable energy sources like solar power to reduce their carbon footprint and energy costs, thereby gaining an advantage in long-term competition.

Bitcoin Mining Difficulty Data

6. Policy and Regulatory News

Progress of Bitcoin Reserve Legislation in U.S. States

Texas:
The Texas Senate passed SB-21 with a vote of 25 to 5, allowing the state government to invest in Bitcoin and establishing a Bitcoin Reserve Advisory Committee to ensure investment transparency. Additionally, the state legislature introduced HB 4258, allowing the state auditor to invest up to $250 million from the Economic Stabilization Fund in Bitcoin or other cryptocurrencies, while permitting local governments to invest up to $10 million in Bitcoin. This bill is expected to take effect on September 1, 2025.

Utah:
The Utah State Senate passed a Bitcoin bill but removed key provisions for establishing a state-level Bitcoin reserve, retaining only aspects related to Bitcoin custody protection.

Senator Cynthia Lummis:

• Reintroduced the Bitcoin Bill: On March 11, Lummis reintroduced the Bitcoin Bill, planning to purchase 1 million Bitcoins over five years to establish a strategic Bitcoin reserve. Compared to the previous version, the new bill changed the plan to purchase 200,000 Bitcoins annually from "up to" to "must," and reinforced the prohibition on selling Bitcoin during the holding period.

• Reviewed Stablecoin-related Legislation: On March 13, Lummis, as chair of the Senate Banking Committee's Digital Assets Subcommittee, presided over the final review of the GENIUS bill proposed by Senator Hagerty. This bill aims to clearly define payment stablecoins, establish clear procedures for institutions seeking to issue stablecoins, and promote responsible innovation while protecting consumer rights.

Representative Nick Begich:
Representative Nick Begich announced plans to reintroduce the 2025 Bitcoin Bill in the House, proposing that the U.S. acquire 1 million BTC and emphasizing individual self-custody rights.

Legislative Progress in Other States:
As of now, 24 states are considering establishing digital asset reserves as a tool to combat inflation. However, due to factors such as Bitcoin's high volatility, five states—Montana, Wyoming, North Dakota, South Dakota, and Pennsylvania—have rejected related proposals.

Democratic Leaders Pressure Treasury to Halt Trump's Strategic Bitcoin Reserve Plan

On March 14, U.S. House Oversight and Government Reform Committee Democratic leader Gerald Connolly urged the U.S. Treasury to stop the plan to create a strategic cryptocurrency reserve, following President Donald Trump's pursuit of establishing a national Bitcoin reserve and personal cryptocurrency reserves.

On Thursday, the Virginia Democrat pointed out in a letter to the Treasury that Trump's push to establish a reserve presents "obvious conflicts of interest." Gerald Connolly stated that Trump did not consult Congress or "seek congressional authorization" to establish the reserve. The letter stated: "Establishing a strategic cryptocurrency reserve would come at the expense of American taxpayers, enriching the president and his closest allies. I urge the cessation of all plans to establish a strategic cryptocurrency reserve and request a briefing for the staff of the Oversight and Government Reform Committee."

South Korean Financial Experts and Opposition Party Members Call for Consideration of Bitcoin Reserves

On March 10, South Korean financial experts and opposition politicians urged the country to include Bitcoin in its national reserves and develop a won-backed stablecoin during a seminar held by the main opposition party, the Democratic Party, in the National Assembly. According to initial reports from the Korea Herald, the seminar analyzed potential responses to the U.S. initiative to establish a Bitcoin-centered national reserve. This discussion took place just before President Trump signed an executive order to establish Bitcoin and cryptocurrency reserves on Thursday.

Kim Jong-seung, CEO of blockchain company xCrypton, stated at the event on Wednesday: "South Korea needs to respond with clear policies." In addition to Bitcoin reserves, seminar experts emphasized the importance of creating a won-backed stablecoin. Kim warned that if dollar stablecoins dominate the digital economy, South Korea could lose its "monetary sovereignty." He stated: "We need to develop a model that connects dollar stablecoins and won stablecoins for trade transactions."

Kim Min-seok, head of the Democratic Party's Policy Preparation Committee, stated that if the party regains power, it will reshape South Korea's cryptocurrency regulatory framework. New analyst Min Jung from Presto Research noted: "South Korea is generally slower than most countries; we have just approved corporate accounts for cryptocurrency, while Bitcoin and Ethereum ETFs are still not allowed for trading. It seems that South Korea is just trying to catch up."

Related Images

UK Treasury States "No Plans" to Introduce U.S.-Style Bitcoin Reserves

On March 10, market news reported that the UK Treasury stated "no plans" to introduce U.S.-style Bitcoin reserves. The volatility makes Bitcoin less suitable as a reserve asset for the UK.

Nebraska Signs Bitcoin ATM Regulatory Bill

On March 13, Nebraska Governor Jim Pillen officially signed LB609, a bill regulating Bitcoin ATMs and other electronic transaction terminals to prevent fraud and protect consumer rights. The bill requires Bitcoin ATM operators to clearly disclose all terms of use and provide users with prominent anti-fraud warnings. Additionally, users who report fraud to operators and law enforcement within 90 days can receive a full refund.

U.S. Treasury Meets with Three Crypto Companies to Discuss Bitcoin Reserve Custody Solutions

On March 14, sources revealed that the U.S. Treasury met with executives from three crypto custody companies this week to discuss how to safeguard the national strategic Bitcoin reserve. Anchorage Digital was one of the institutions involved in the meeting. Anchorage CEO Nathan McCauley stated that Treasury officials inquired in detail about best practices for national Bitcoin reserves and digital asset custody, and discussed how custody could impact stablecoins and market structure.

Congressional sources indicated that the Treasury is currently in a research phase and has not formed a clear position but is actively seeking input from industry insiders. The current inclination is for third-party institutions to custody government Bitcoin reserves, with a long-term goal of the government eventually achieving self-custody. As for various seized digital assets controlled by the government, they may still need to rely on third-party custody for the long term. The U.S. Treasury declined to comment on this.

7. Mining News

Cybersecurity Company Kaspersky: Hackers Extort YouTube Creators to Promote Crypto Mining Malware

On March 12, cybersecurity company Kaspersky discovered that hackers were using copyright complaints to threaten YouTube content creators, forcing them to add the crypto mining malware SilentCryptoMiner in their video descriptions. This malware is based on XMRig and is used to mine cryptocurrencies such as Ethereum, Ethereum Classic, Monero, and Ravencoin, controlling a botnet through the Bitcoin blockchain.

The hackers' main targets are YouTubers who provide installation tutorials for the Windows Packet Divert driver. They first launch false copyright complaints against the videos, then contact the creators claiming to be the developers of the driver, demanding that they add malicious links. Currently, one YouTuber with 60,000 followers has been identified as a victim, leading to over 40,000 downloads of the infected files, with Kaspersky estimating that at least 2,000 devices have been infected.

Kaspersky security researcher Leonid Bezvershenko warned that hackers are exploiting the trust between YouTubers and their audiences, and such threats may spread to platforms like Telegram. He advised users not to trust tutorials that request disabling antivirus software and to verify the source before downloading any files to prevent infection by crypto mining malware.

A Small Miner Successfully Mined a Bitcoin Block with 3.3TH Hash Power, Probability Less Than One in a Million

On March 12, news emerged that a miner successfully mined Bitcoin block 887212 (block hash: 000000000000000000006414aea39be567cf1d5ff6cbf2d77254fe7c714b0d81) using only 3.3TH of hash power with a 480GH Bitaxe mining machine on solo.ckpool.org.

The miner's address is bc1qaxccz85rx6ywy2xw6ugtm6u37mvew6qqn7lgtd, and theoretically, the probability of discovering a block daily is less than one in a million, typically requiring 3,500 years to find one block.

Delaware Court Rules Bitcoin Mining Machine Custodian Cannot Prevent Tenant Access to Its Machines

On March 14, a Delaware court temporarily approved a restraining order filed by a Pennsylvania Bitcoin mining company against its custodian, which had blocked access to its mining machines due to a payment dispute. The restraining order prohibits the custodian from blocking access and otherwise taking over the 21,000 mining machines belonging to the miner at the property.

Vice Chancellor Morgan Zurn approved the temporary restraining order on March 12, filed by Bitcoin miner Consensus Colocation and system owner Stone Ridge Ventures against Mawson Hosting, which provides hosting and co-location services for Bitcoin miners. These companies have disagreements over alleged unpaid fees, contract terms, and Consensus's relocation plans, which reportedly led Mawson to block miner personnel from entering the site.

These companies also claim that since blocking Consensus from entering the premises on February 28, Mawson has been operating the mining machines for its own benefit. However, Mawson claims that under the terms of its agreement with Consensus, it has the right to use these machines and has a right of first refusal on their relocation plans.

8. Bitcoin News

Global Corporate and National Bitcoin Holdings Dynamics (Weekly Statistics)

• Australia Monochrome: As of March 7, Monochrome's Bitcoin spot ETF (IBTC) holdings decreased to 303 BTC, down 17 from the previous day, with a holding value of approximately $42.534 million.

• Strategy (formerly MicroStrategy): The market value of Bitcoin holdings has fallen below $40 billion, currently holding 499,096 BTC, valued at approximately $39.97 billion based on the current price of $79,998.5.

• El Salvador: Increased its holdings by 6 BTC in the past two days at an average price of $82,308, bringing its total holdings to 6,112.18 BTC, valued at $491.6 million. Over the past 30 days, it has accumulated 41 BTC, continuing to accumulate BTC despite pressure from the IMF.

• StarkWare: Announced the establishment of a "strategic Bitcoin reserve," planning to hold more BTC in the future, but did not disclose specific holding data. The company is valued at $8 billion and has invested significant resources in Bitcoin research in recent years.

• Lead Benefit: The Hong Kong subsidiary spent $27 million on February 28 to purchase 333 BTC at an average price of $81,555. Previously, on January 9, it purchased 500 BTC, totaling an investment of $47 million.

• Metaplanet: Plans to issue 2 billion yen (approximately $13.506 million) in interest-free ordinary bonds to purchase Bitcoin. Additionally, the company has newly acquired 162 BTC, increasing its total holdings to 3,050 BTC, valued at 38.452 billion yen.

• Ark Invest: Increased its Bitcoin holdings by $82.6 million (source: BITCOINLFG, March 13).

Grayscale Research Director: Bitcoin's Further Appreciation Does Not Depend on U.S. Crypto Strategic Reserves

On March 10, news reported that U.S. President Trump has signed an executive order to establish a strategic Bitcoin reserve and a separate digital asset reserve. In response, Grayscale Investments research director Zach Pandl believes that Bitcoin can appreciate further this year without relying on the U.S. strategic reserves. He expects Bitcoin's price to be driven up as adoption increases, and Bitcoin will begin to serve as a store of value this year, especially amid concerns that Trump's tariff policies may lead to renewed inflation.

Analysis: Monte Carlo Model Predicts Bitcoin Price Will Reach $713,000 Peak Within Six Months

On March 10, Cointelegraph reported that despite the cryptocurrency fear and greed index showing "extreme fear" on March 10, a Bitcoin market simulation still predicts a bullish trend in the second half of 2025. Cryptocurrency researcher Mark Quant analyzed Bitcoin prices using Monte Carlo simulations and provided a six-month forecast for the crypto asset. The Monte Carlo model is a computational method that simulates price predictions and assesses risks through random sampling. It can generate various possible scenarios based on volatility, market trends, and other variable factors. Based on an initial price of $82,655, the study estimates Bitcoin's average final price by the end of September 2025 to be $258,445. However, from a broader perspective, Bitcoin's price is expected to fluctuate between $51,430 (5th percentile return) and $713,000 (95th percentile return).

However, it is important to note that the Monte Carlo model largely relies on the Geometric Brownian Motion (GBM) model, which assumes that asset values follow a random path with a constant drift parameter. In this analysis, Bitcoin's inherent volatility is incorporated into the model, capturing long-term historical performance and patterns while adapting to future changes. Essentially, Monte Carlo analysis carries uncertainty akin to "rolling dice." Last week, Quant also emphasized the correlation between total cryptocurrency market capitalization and the global liquidity index, suggesting that total market capitalization could reach a new high of over $4 trillion in the second quarter of 2025.

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Nansen: Bitcoin's Retreat to the $70,000 Range is Part of the Bull Market "Macro Adjustment"

On March 12, Nansen's chief research analyst Aurelie Barthere stated that most cryptocurrencies have broken through key support levels, making it difficult to estimate the next key price level. For Bitcoin, the next level may be between $71,000 and $72,000, which is the upper end of the trading range before Trump's election. Despite a decline in investor sentiment, cryptocurrencies and global markets are still undergoing a "macro adjustment" within a bull market, with the market still in a correction phase of the bull market, and stocks and cryptocurrencies have already realized and are pricing in this.

Standard Chartered Analyst: Recent Bitcoin Decline Related to Overall Weakness in Risk Assets, Long-term Bullish to $200,000

On March 12, Standard Chartered's head of digital asset research Geoff Kendrick stated that Bitcoin's recent price fluctuations are consistent with the performance of risk assets such as the "seven giants" of U.S. stocks, rather than issues within the cryptocurrency itself. He pointed out that Bitcoin's decline is mainly influenced by overall market sentiment, and future rebounds may depend on two catalysts: a recovery in risk assets overall or positive news for Bitcoin (such as sovereign purchases by the U.S. or other countries). If the Federal Reserve quickly shifts to rate cuts (for example, the probability of a May rate cut rising from 50% to 75%), it could drive a Bitcoin rebound; however, if the downward trend continues, Bitcoin may fall below $76,500 and test the $69,000 support level.

Despite facing short-term pressure, Kendrick remains optimistic about Bitcoin's long-term prospects, expecting it to reach $200,000 by the end of 2025. He emphasized that current market volatility increases the likelihood of Federal Reserve rate cuts, further solidifying his long-term bullish outlook. Meanwhile, Trump's tariff policies and the Federal Reserve's interest rate decisions will continue to influence market sentiment, bringing uncertainty to Bitcoin's trajectory.

Analyst: Bitcoin is Approaching a Bottom, Expected to Rebound in the Second Quarter

On March 12, Joel Kruger of LMAX Digital stated that the current weakness in the crypto market is "more of a sell-off effect after news realization and a technical overdue adjustment, rather than caused by other factors." However, of course, there are more factors at play. The uncertainty surrounding the U.S. economic outlook has triggered market risk aversion.

Nevertheless, Kruger believes that Bitcoin is approaching a bottom and is expected to rebound in the second quarter. In the previous resistance range between $69,000 and $74,000, Bitcoin "should receive very strong support." Kruger previously stated that Bitcoin's "store of value" narrative may help it break free from the "misleading" correlation with traditional risk assets.

Ark Invest: Still Optimistic About Bitcoin's Long-term Prospects, Current Market Sentiment Too Pessimistic

On March 12, despite a significant market decline in March, Cathie Wood's investment firm Ark Invest remains optimistic about Bitcoin. On Tuesday, Ark Invest stated in a report: Ark is still optimistic about Bitcoin's long-term prospects, believing that policy changes and technological breakthroughs in areas such as artificial intelligence and robotics will reignite spending and enhance productivity.

Ark Invest also pointed out that regulatory easing and tax cuts are potential major drivers for Bitcoin's recovery from the current market turmoil. The market has become overly pessimistic about the current macroeconomic and geopolitical sentiment.

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