 ▲ Bitcoin, Dollar |
Bitcoin (BTC) has demonstrated strong resilience amid geopolitical instability, breaking above the $70,000 level, and market analysts are now raising the possibility of further gains toward $80,000.
According to crypto media outlet CryptoPotato on March 10 (local time), Matrixport analyst Markus Thielen described Bitcoin’s ability to withstand external negative factors—including tensions among the United States, Israel, and Iran—as a strong bullish signal. In a chart report, Thielen analyzed that Bitcoin is likely to overcome geopolitical noise and enter a new trading range between $70,000 and $80,000. Over the past 24 hours, Bitcoin has risen about 4%, maintaining stable movement above the $70,000 mark.
Recently, Bitcoin formed solid support near $66,000 despite various macroeconomic downward pressures, such as surging oil prices and weakening U.S. employment data. In particular, after U.S. President Donald Trump mentioned the possibility of ending the war and oil prices fell below $90 per barrel, the digital asset market responded immediately. Thielen projected that as the market gradually begins pricing in geopolitical risks, Bitcoin will secure full-fledged upward momentum.
Indicators from the futures market are also sending positive signals. Since February, the estimated leverage ratio for Bitcoin on major exchanges such as Binance has declined from 0.198 to 0.152, indicating that much of the excessive market debt has been cleared. While leverage has decreased, open interest has risen 18% since late February, suggesting that a significant portion of the market currently consists of short positions betting on price declines. If Bitcoin’s price continues to rise, short sellers may be forced to buy back positions in a short-covering event, potentially accelerating the upward momentum.
Bitcoin is currently trading around $70,000, up more than 10% compared to two weeks ago. However, it remains about 44% below its all-time high of $126,000 recorded in October 2025. Analysts note that a healthy market restructuring is underway alongside deleveraging, and if Bitcoin breaks through short-term resistance levels, a move to reclaim the $80,000 mark could become a reality.
Disclaimer: This article is for investment reference only, and no responsibility is taken for investment losses based on it. The content should be interpreted for informational purposes only.