March 10 Review: Signals to Watch in a Volatile Market

Hello everyone, I am Linsen.
Here's a quick recap of yesterday (March 10):
Bitcoin fluctuated between 68,391 and 71,777 throughout the day, battling around the 70,000 mark; Ethereum had less volatility, trading within the 2088-1990 range, not even breaking 100 points. The most stable was actually OKB, hovering around 95-100.
This narrow range of movement indicates one thing: the bullish trend has temporarily ended, and the market has entered a consolidation phase with upward momentum.

Why do I dare to say "upward"?
First, miners' costs are still there.
Currently, the average mining cost for Bitcoin miners is around $87,000, but the price has been below the cost line for two consecutive months. This has forced many mining companies to start selling Bitcoin to pivot to AI—Core Scientific sold 1,900 coins, Mara authorized the sale of 53,000 coins, Cango sold 4,451 coins, and BitDeer also liquidated their holdings.

Historical experience shows that when miners can no longer hold on and start liquidating, it often signals a market bottom. After all, blockchain cannot do without miners; no matter how hot AI gets, it can't replace the computational power support.

Second, big funds are still buying.
Elon Musk just announced that XMoney will launch Bitcoin services next month, and MicroStrategy's Saylor bought another $1.28 billion worth of Bitcoin. Major players are investing real money, not to take over your position, but to build a global payment system—cryptocurrency's divisibility makes it perfect for this scenario.
Third, the selling pressure is weakening.

Although CPI data will be released this week, and the market worries that "no rate cuts" could cause a sell-off, looking back over the past few months, the selling intensity has been decreasing. The chances of a sudden drop of over 10,000 points in a single day are low. If there is a correction, it will be limited.

What’s the short-term outlook?
The Asian trading session is likely to continue with sideways movement leaning bullish. Before the data release, if CPI figures are not favorable for rate cuts, a pullback could occur, but don’t panic—this is an opportunity to buy, not to run.

Miners have already sold off 15,000 Bitcoin; who still holds chips in hand, you can judge for yourself.

To sum up in one sentence:
In March, target 80,000, expect some volatility along the way, hold on and don’t sell.
$BTC $ETH #Gate蓝龙虾重磅上线