Advertise
Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Mar 10, 2025 12:09 UTC
-
Bitcoin Price Prediction For March 10
-
BTC $ 84,041.47 (0.68%) 
Bitcoin plunged to $80K, triggering $650 million in market liquidations within 24 hours.
U.S. Bitcoin Reserve plan caused a 7% drop as no new purchases planned.
Bitcoin struggles below $86K resistance, risking further decline toward the $78K support level.
Bitcoin is under heavy selling pressure, falling to a multi-month low of $80,000. This sharp decline led to massive liquidations, wiping out nearly $650 million in the past 24 hours. With the crypto fear and greed index dropping to 17 (Fear), investors are now questioning whether Bitcoin will recover or face further losses.
US Bitcoin Reserve Plan Sparks Sell-Off
The US government’s plan to create a Strategic Bitcoin Reserve triggered a 7% drop in Bitcoin’s price. The sell-off happened because the plan does not include new Bitcoin purchases, raising uncertainty among investors.
Donald Trump has directed trade and commerce officials to find “budget-neutral” ways to acquire Bitcoin, but the details remain unclear.
The reserve will be made up of Bitcoin seized by the government, mainly held by the Department of Justice. While this suggests these assets won’t be sold, the lack of a clear buying strategy means the plan may not have a strong impact on the market.
$650M Liquidated – Who Lost the Most?
According to data from CoinGlass, the crypto market saw liquidations worth approximately $650 million in the past day. Long traders took the biggest hit, suffering losses of nearly $500 million, while short traders faced around $147 million in liquidations.
The largest single liquidation order happened on Binance’s BTCUSDT pair, worth $32.09 million.
Can Bitcoin Recover? Key Levels to Watch
Despite the sharp drop, Bitcoin managed to bounce back by 2%, reaching around $83,400.
Crypto analyst Michaël van de Poppe pointed out that Bitcoin’s 12-hour price chart is at a critical level. Two possible scenarios could play out:
- If Bitcoin holds its current range, it could form a higher low, setting up for a potential breakout.
- If it struggles to stay above $86,000, it may face another drop, possibly testing support near $78,000.
Bitcoin’s slight rebound has pushed the Relative Strength Index (RSI) out of the oversold zone, but it remains weak. This suggests that sellers could still dominate the market, keeping Bitcoin’s recovery uncertain.
Investors are now watching closely to see if Bitcoin can regain strength or if more downside is ahead. A storm may be brewing, but Bitcoin has weathered worse.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
Bitcoin fell due to intense selling pressure, $650M in liquidations, and fears over the U.S. Bitcoin Reserve plan lacking new BTC purchases.
As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046 this year if the bullish sentiment sustains.
With increased adoption, the price of 1 Bitcoin could reach a height of $610,646 in 2030.
Yes 
No 
