Bitcoin (BTC) faces mounting pressure as inflation signals and economic uncertainty push prices lower. However, miners have quietly accumulated $900M in BTC, offering key support.
Bitcoin (BTC) Tests New Lows at $82K as Inflation Signals Intensify
Bitcoin price tumbled to $82,220 on Sunday, March 9, marking an 11.4% decline from last week’s $95,000 peak. The downturn follows renewed concerns over inflation and rising unemployment, driven by the latest U.S. Non-Farm Payrolls (NFP) data released Friday.
The bearish pressure comes despite Trump’s recent announcement of a Bitcoin strategic reserve. Initially, this policy fueled a BTC price rally, but enthusiasm has since faded as inflation fears dominate market sentiment.
Investors have turned cautious, weighing the potential long-term benefits of Bitcoin’s inclusion in federal reserves against the immediate economic headwinds.
Adding to the uncertainty, the White House summit addressing the crypto market failed to provide clarity. With policymakers split on Bitcoin’s role in financial markets, institutional players are holding off on aggressive allocations, contributing to the broader market pullback.
Why Is Bitcoin Price Going Down?
As U.S. consumers enter the second week of tariff-induced price hikes, many industries are adjusting their supply chains and implementing costlier production cycles. Key consumer goods are seeing price reviews, intensifying inflation concerns.
Retail investors, typically more sensitive to rising costs, are reallocating funds to cover increased expenses, leading to capital outflows from risk assets like Bitcoin. This trend is exacerbated by institutional investors shifting toward bonds and fixed-income securities, looking front-run expected rate hikes in the coming months.
This has seen 10-year bond yield soar in key markets, including the U.S., where the 10-year Treasury yield surged to 4.3%, marking its highest level since November 2023.
According to TradingEconomics data, imilar trends are observed in Europe, with Germany’s 10-year Bund yield climbing to 2.45%, reflecting heightened inflation expectations. In Japan, the 10-year government bond yield reached 0.88%, its highest since 2013.
These rising yields make bonds more attractive to institutional investors, diverting capital away from risk assets like Bitcoin and equities, further amplifying sell pressure in crypto markets.
Miners Are Accumulating BTC Amid Policy Uncertainty and Unfavorable Prices
Despite the prevailing bearish sentiment, Bitcoin miners have taken a contrarian approach, accumulating BTC instead of selling into the market downturn. The latest CryptoQuant data reveals that miner reserves climbed to 1,809,480 BTC on March 9, reflecting an increase of over 1,000 BTC in the two weeks since Trump announced 25% tariffs on Canada and Mexico.
At current prices, this translates to approximately $900 million worth of BTC absorbed by miners rather than entering market circulation. This strategic accumulation plays a crucial role in stabilizing BTC price action by reducing immediate sell pressure.
Miners’ decision to hold rather than sell suggests confidence in a long-term bullish outlook, possibly tied to expectations surrounding the U.S. Treasury’s potential Bitcoin purchases. With Bitcoin’s hash rate maintaining strength and miner revenue metrics showing resilience, the industry’s key stakeholders appear to be positioning for an eventual price recovery.
By limiting the supply influx amid weakened demand, miners are effectively providing a buffer against further downside risks. If accumulation continues and market conditions stabilize, BTC could avoid deeper declines and position itself for a rebound once economic uncertainties ease.
While short-term volatility remains a concern, the ongoing accumulation signals that Bitcoin’s core stakeholders remain optimistic about its future trajectory, even as macroeconomic factors weigh on broader market sentiment.
Bitcoin Price Forecast: BTC Risks Breaking Below $80K Before Next Rebound
Bitcoin price forecast remains bearish as technical indicators suggest increasing downside pressure, with a potential breakdown below $80,000 before the next major move. The 12-hour candlestick chart shows BTC struggling beneath key resistance at $87,678, marked by the mid-line of the Keltner Channel. B
TC recently failed to sustain momentum after a brief recovery to $95,000, with the subsequent downturn erasing gains by 11.41% over the last seven trading sessions.
The MACD indicator has turned deeply negative, with the MACD line at -1,588.48 trending below the signal line at -1,345.85, signaling intensifying bearish momentum.
The histogram bars have flipped red again after a brief bullish phase, reinforcing the likelihood of continued selling pressure. Volume data suggests sellers are dominating, with the latest leg of the downtrend marked by 123.68K BTC in trade volume, significantly higher than the preceding 85.06K BTC from the short-lived bullish push.
A bullish scenario would require BTC to reclaim $87,678 and break above the upper Keltner Channel boundary at $94,901, which currently caps upside potential.
However, with leverage unwinding across futures markets and negative funding rates suggesting forced liquidations, the path of least resistance remains downward toward the lower Keltner Channel support at $80,454. A breach below this level could accelerate BTC’s decline toward the next psychological support at $78,000.
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