Bitcoin consolidates around $80,000 after a difficult start to the year
Bitcoin has stabilized in a range of $80,000 to $85,000 since March 12, after falling sharply from $100,000 to under $80,000 in recent weeks. This 14% drop since the start of 2025 is mainly attributed to President Trump's tariff threats and the disappointment over the lack of new purchases for the American BTC strategic reserve..
Bitcoin miners' reserves continue to fall
Bitcoin miners' reserves have been decreasing since mid-2024, indicating a trend of selling to make profits. Despite the rise in prices in late 2024 and early 2025, reserves remained low, suggesting that miners continue to sell their BTC.
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Bitcoin network hashrate increased slightly in March
According to a report by JPMorgan, the Bitcoin network hashrate increased by 2 exahashes per second (EH/s) in the first two weeks of March, reaching an average of 811 EH/s. U.S.-listed miners maintained their share of the network hashrate at around 30%.
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Michael Saylor remains optimistic despite the market downturn
The founder of Strategy (formerly MicroStrategy) says that “Bitcoin is going to surge with a vengeance” once investor confidence is restored. Saylor attributes the current downturn to a risk-averse macroeconomic environment, but remains convinced of Bitcoin's long-term potential.
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Outlook: a Bitcoin storm on the horizon?
Derive, a decentralized crypto options platform, suggests that the current quiet period in the Bitcoin market may be short lived. Several factors, including developments in Ukraine, changes in crypto regulatory policy under the Trump administration, and the Federal Reserve's rate decision, could trigger significant price volatility in the near future.
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