As of March 9, 2025, Bitcoin is trading at approximately $79,457.42, reflecting a 0.9% increase over the past 24 hours. Ethereum is priced around $1,865.94, down 0.13% in the same period. Crypto markets face major shifts as technical moves and political decisions drive new strategies.
On March 7, 2025, at 3:10 AM UTC, President Donald Trump signed an executive order that creates a Strategic Bitcoin Reserve and a Digital Asset Stockpile. Bitcoin enters the second week of March 2025 trading at $79,457.42, up $342.63 (0.9%) today on March 10. Despite this minor daily increase Bitcoin still closed its worst weekly candle ever dropping more USD value in one week than at any other point in its history.
With traders cautious about further declines the market approaches critical lows set in late February near $78,000. Whales meanwhile have quietly increased their Bitcoin holdings sensing opportunity amid bearish market conditions.
Crypto Fear & Greed Index | Source: Alternative.me
The Fear and Greed Index has increased to 24, still indicating an extremely fearful market sentiment. Bitcoin has remained below the $100,000 mark, experiencing limited whale accumulation and low volatility.
What’s Trending in the Crypto Community?
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Strategy applied to issue preferred STRK shares worth up to $21 billion to continue buying Bitcoin
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Despite the poor market performance of Bitcoin these few days, Bitcoin whales have begin accumulating again
Trending Tokens of the Day
Bitcoin Price Approaches Critical Weekly Support at $79,094.10
BTC/USD 1-week chart. Source: Cointelegraph/TradingView
Bitcoin’s price starts the week hovering at $79,094.10 USD gaining only $342.63 or 0.44% today (March 10, 2025). Despite the modest increase Bitcoin still struggles after dropping sharply last week reaching a low around $79,300 earlier today. Traders fear the next move could bring another retest of the February low at $78,000.
Trader SuperBro notes BTC’s weekly candle closed poorly stating it clearly “cracked the uptrend from Oct ’23.” Historically such breaks rarely reverse immediately suggesting prices may revisit recent lows near $78,000 soon.
Kevin Svenson also highlights the risk clearly stating “Bitcoin is back in the critical zone of the weekly parabolic trend. This is $BTC’s last chance to maintain an exponential higher low.”
Traders remain cautious with some expecting further downside toward $77,000 where high-timeframe liquidations are likely according to trader CryptoNuevo.
Read more: Trump Orders Creation of U.S. Sovereign Wealth Fund: Could Bitcoin Play a Role?
Market Anxiety Builds Ahead of Key Inflation Reports
BTC/USD 1-week chart with parabolic trendline. Source: Kevin Svenson/X
Investor anxiety grows ahead of important US inflation data releases due later this week. The Consumer Price Index (CPI) and Producer Price Index (PPI) figures for February 2025 could fuel volatility across markets especially if inflation continues to rise. February’s CPI and PPI readings already exceeded forecasts causing risk assets like Bitcoin and stocks to sell off sharply.
CME Group’s FedWatch Tool currently puts the probability of a rate cut at just 3% ahead of the Federal Reserve’s March 19, 2025 meeting signaling market expectations for prolonged high interest rates. The Atlanta Fed also reduced its GDP growth forecast for Q1 2025 to negative 2.8% raising recession fears further.
Could Bitcoin Revisit its 2021 High at $69,000?
Bitcoin Lowest Price Forward chart. Source: Timothy Peterson/X
Technical indicators suggest Bitcoin could revisit even lower historical levels if it breaks current support near $78,000. Timothy Peterson’s widely respected "Lowest Price Forward" model suggests Bitcoin is unlikely to ever trade below $69,000 again with 95% confidence.
BTC has recently lost key support at its 200 day moving average currently around $80,500. Arthur Hayes, former CEO of BitMEX noted the situation clearly: “Looks like $BTC will retest $78k. If it fails, $75k is next in the crosshairs.”
Technical traders increasingly see Bitcoin revisiting the mid $70,000 range if support near $78,000 fails.
Market Sentiment Reaches Historical Extreme Fear Levels
Market sentiment has reached historic lows reflecting severe bearishness. The Crypto Fear & Greed Index currently stands at "Extreme Fear" with a reading of 17. Just last month the index hit a three-year low at 10 out of 100 as Bitcoin tested $78,000.
However extreme bearishness historically precedes strong market reversals. Timothy Peterson highlighted this clearly: “Sentiment is extremely bearish which is actually bullish.” Anthony Pompliano echoed this point urging investors not to overly rely on short-term sentiment indicators.
Read more: What Is the Bitcoin Rainbow Chart, and How to Use it?
Bitcoin Whales Begin Accumulating Again Despite Market Weakness
Bitcoin whale, shark accumulation. Source: Santiment/X
Amid widespread pessimism large Bitcoin investors known as whales have quietly resumed accumulation. Analytics firm Santiment noted clearly that wallets holding at least 10 BTC added nearly 5,000 BTC since March 3, 2025 after mild selling earlier this year.
Although Bitcoin’s price hasn’t reacted to whale accumulation yet Santiment expects a delayed response potentially leading to a recovery later in March. Analysts there stated clearly: “Don’t be surprised if the second half of March turns out much better than the bloodbath we’ve seen since Bitcoin’s all-time high seven weeks ago.”
Crypto ETPs Experience Continued Heavy Outflows
Weekly crypto ETP flows since late 2024. Source: CoinShares
Institutional investors meanwhile continue withdrawing from crypto Exchange Traded Products (ETPs). CoinShares reports that crypto ETPs experienced $876 million in outflows in the past week alone following record withdrawals totaling $2.9 billion the prior week. Over the past four weeks cumulative outflows reached $4.75 billion.
Bitcoin-focused ETPs lost $756 million last week accounting for roughly 85% of total crypto fund outflows. Year-to-date inflows have dropped sharply to $2.6 billion reflecting bearish investor sentiment.
Utah Senate Passes Bitcoin Bill Without Reserve Asset Clause
Utah Senator Kirk A. Cullimore confirmed HB230’s amendment to scrap the reserve clause. Source: Utah State Legislature
In regulatory news Utah’s Senate passed the HB230 Bitcoin bill on March 7, 2025 removing its original clause that allowed the state treasurer to invest directly into Bitcoin reserves. Senator Kirk A. Cullimore explained clearly: “All of that has been stripped out of the bill.”
The revised bill still provides protections for Bitcoin custody mining staking and other crypto activities. Utah’s governor Spencer Cox will soon sign the legislation into law further supporting Bitcoin adoption despite removing the key reserve asset clause.
Read more: What Is a Bitcoin ATM and How to Use it?
Strategy Announces $21 Billion STRK Offering to Fund More Bitcoin Purchases
Source: Strategy
Strategy (formerly MicroStrategy) revealed plans on March 10, 2025 to raise $21 billion through its Series A perpetual preferred stock offering (STRK). With an 8% annual dividend the new STRK shares priced at $0.001 each offer a way to continually raise funds specifically for purchasing more Bitcoin.
This latest fundraising follows Strategy’s recent $2 billion purchase of 20,356 BTC on February 24, 2025 bringing their total holdings to 499,096 BTC worth over $47 billion. Despite aggressive accumulation the company’s stock price (MSTR) dropped roughly 12% currently trading around $252.48 reflecting investor concerns amid bearish market conditions.
Conclusion
As Bitcoin trades at $79,094.10 on March 10, 2025 the market remains tense ahead of upcoming inflation data which could fuel volatility. A break below critical support near $78,000 could trigger additional downside potentially toward historical support around $69,000. However continued whale accumulation and extreme bearish sentiment may signal that a reversal or rally could still emerge later this month. Traders should watch macroeconomic indicators closely as the crypto market remains fragile in the short term.
