Under the combined influence of multiple macroeconomic positives and easing selling pressure, both Bitcoin and gold prices are strengthening simultaneously, with market sentiment showing clear signs of recovery. After Bitcoin briefly retreated to around $60,000, some institutions and whales chose to accumulate at lower levels. However, this week’s release of key US economic data could still trigger a new wave of volatility.
First, changes in Japan’s political landscape have led to a weakening of the yen, indirectly boosting safe-haven assets. Following the Liberal Democratic Party’s overwhelming victory in early elections led by Prime Minister Sanae Takaichi, the yen depreciated against the US dollar, and the US dollar index also declined. The easing of exchange rate fluctuations reduced the risk of closing yen arbitrage positions and increased investors’ willingness to allocate funds to gold and Bitcoin. As a result, gold prices broke through the $5,000 mark, and Bitcoin rebounded above $72,000.
Second, US market sentiment has improved, driving increased spot demand. After a correction in tech stocks, Bitcoin rebounded, and former President Trump reiterated long-term stock market goals, boosting risk appetite. The US’s top compliant CEX Premium Index ended a two-month slump with a significant rebound, indicating that US investors and large funds are re-entering the spot market. 10x Research believes that $73,000 remains a key resistance level, and current position changes suggest traders are more inclined to reduce leverage rather than chase higher prices.
Third, Bitcoin mining difficulty has been sharply reduced, easing pressure on miners. Recent data shows mining difficulty has dropped by over 11%, marking one of the largest declines since 2021. Previously, a sharp price decline prompted some miners to sell holdings to maintain cash flow, with Marathon Digital selling 1,318 Bitcoins. The difficulty adjustment has temporarily improved miners’ cost structures and provided support for price stabilization.
Currently, Bitcoin is fluctuating around $71,800, with a 24-hour volatility still quite noticeable. As US non-farm payrolls and CPI data are about to be released, interest rate and liquidity expectations remain key variables influencing Bitcoin and gold trends. In the short term, the market may continue to stay highly sensitive.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
A certain whale sold 75 BTC in the past 20 hours and bought 2.067 billion PUMP from Wintermute.
Gate News Report, March 10 — According to Onchain Lens monitoring, a certain whale (address 24BLF...LChr) sold 75 BTC worth $5.08 million in the past 20 hours and bought 2.067 billion PUMP tokens from market maker Wintermute, valued at $4.04 million.
GateNews1h ago
Bitcoin-Tech Stock Correlation Is Overblown, NYDIG
Bitcoin’s recent price action has traced the footsteps of US software equities, driven more by macro liquidity conditions than a lasting structural link to the tech sector. In a note issued on Friday, Greg Cipolaro, NYDIG’s head of research, argued that the visual fit between BTC and software
CryptoBreaking1h ago
Michael Saylor’s Strategy Builds $50 Billion Bitcoin Treasury With 738,731 BTC
Michael Saylor’s company, Strategy, has become the largest corporate Bitcoin holder with over 738,000 BTC, valued at approximately $50.7 billion. Their strategy involves aggressive accumulation using corporate funds and debt financing, significantly influencing corporate finance and Bitcoin adoption.
CryptometerIo1h ago
A certain whale received 245 BTC again eight hours ago, accumulating a total of 495.3 BTC purchased over the past two weeks.
Gate News reports that on March 10th, according to The Data Nerd monitoring, eight hours ago, a whale address bc1q8 received another 245 BTC (approximately $16.8 million). Data shows that over the past two weeks, this whale has accumulated a total of 495.3 BTC (approximately $33.4 million) through an institution, with an average purchase price of about $67,430.
GateNews1h ago
Bitcoin returns to $70,000: Geopolitical conflict concerns ease, ETF fund inflows continue to drive BTC rebound
On March 10th, Bitcoin broke through $70,000 during the East Asian trading session, completing a recovery after the weekend sell-off. As volatility in the energy markets eased, selling pressure on risk assets diminished. Market data shows that institutional capital inflows continue to support Bitcoin, investor sentiment is improving, and short-term upside potential is increasing.
GateNews2h ago
Yesterday, the US Bitcoin spot ETF experienced a net inflow of $57.73 million.
Gate News Report, March 10 — According to crypto analyst Trader T's monitoring, on March 9, the US Bitcoin spot ETF saw a net inflow of $57.73 million. Among them, FBTC (Fidelity) had a net inflow of $60.09 million; BITB (Bitwise) had a net outflow of $4.49 million; ARKB (Ark) had a net outflow of $274 million.
GateNews2h ago
