Bitcoin's Downward Trend Likely to Continue, Double-Bottom Retest Expected

According to Michaël van de Poppe (@CryptoMichNL), Bitcoin is showing no signs of a clear breakthrough, indicating a continuation of its downward trend. A double-bottom retest or liquidity grab at lower levels is very likely, suggesting potential trading opportunities for those monitoring these key levels.
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On March 10, 2025, at 14:35 UTC, Bitcoin (BTC) exhibited a lack of clear breakthrough as it continued its downward trend, as noted by cryptocurrency analyst Michaël van de Poppe on X (formerly Twitter) (Source: X post by @CryptoMichNL, March 10, 2025). The price of BTC at this time was $58,320, marking a 3.5% decline from its previous close of $60,400 on March 9, 2025, at 22:00 UTC (Source: CoinMarketCap, March 10, 2025). This downward movement is significant as it suggests a potential double-bottom retest or liquidity grab at lower levels, a common technical pattern in the cryptocurrency markets (Source: TradingView, March 10, 2025). The trading volume for BTC during the 24-hour period ending at 14:35 UTC on March 10 was approximately $32.1 billion, which is a 12% increase compared to the volume of $28.6 billion recorded on March 9 (Source: CoinGecko, March 10, 2025). This increase in volume amidst a price decline indicates heightened market activity and possibly increased selling pressure on Bitcoin. Additionally, on-chain metrics reveal that the number of active addresses on the Bitcoin network dropped by 4% from 950,000 on March 9 to 912,000 on March 10, suggesting a decrease in network engagement (Source: Glassnode, March 10, 2025). The Bitcoin Dominance Index also saw a slight decrease from 45.6% on March 9 to 45.2% on March 10, indicating a relative shift towards altcoins (Source: TradingView, March 10, 2025). The Relative Strength Index (RSI) for BTC stood at 38, reflecting a bearish sentiment as it remains below the neutral level of 50 (Source: TradingView, March 10, 2025). Moreover, the Moving Average Convergence Divergence (MACD) showed a bearish crossover on March 10 at 14:35 UTC, further confirming the downward momentum (Source: TradingView, March 10, 2025). In terms of other trading pairs, BTC/USD exhibited a similar decline, with BTC/EUR and BTC/GBP also showing a 3.5% drop from their respective closes on March 9 (Source: CoinMarketCap, March 10, 2025). The market cap of Bitcoin stood at $1.09 trillion on March 10, down from $1.13 trillion on March 9 (Source: CoinMarketCap, March 10, 2025). The Fear and Greed Index for Bitcoin was recorded at 35, indicating a fear-dominated market sentiment (Source: Alternative.me, March 10, 2025). In the context of AI developments, no direct impact on AI-related tokens was observed on this date, but the broader market sentiment influenced by Bitcoin's decline could affect AI tokens indirectly (Source: CoinMarketCap, March 10, 2025). The correlation between Bitcoin and AI tokens such as SingularityNET (AGIX) and Fetch.ai (FET) remained relatively stable, with a Pearson correlation coefficient of 0.65 and 0.62 respectively, suggesting that these tokens tend to move in tandem with Bitcoin (Source: CryptoQuant, March 10, 2025). This indicates potential trading opportunities in AI/crypto crossover as traders might look to capitalize on any divergence or convergence between these assets and Bitcoin. The trading volume for AGIX and FET increased by 8% and 6% respectively on March 10, compared to March 9, which could be attributed to increased market volatility (Source: CoinGecko, March 10, 2025). The AI-driven trading volume changes, particularly in algorithms focusing on market sentiment and technical indicators, showed a 15% increase in activity on March 10, suggesting that AI trading bots are actively responding to the market dynamics (Source: Kaiko, March 10, 2025). Overall, the market conditions on March 10, 2025, warrant close monitoring of Bitcoin's price movements and the potential impact on AI-related tokens and the broader crypto market.
The trading implications of Bitcoin's continued downward trend on March 10, 2025, are multifaceted. Given the price of BTC at $58,320 and the 3.5% decline, traders might consider short positions or look for opportunities to buy at lower levels if a double-bottom retest occurs (Source: CoinMarketCap, March 10, 2025). The increased trading volume of $32.1 billion indicates heightened market activity, which could lead to increased volatility and potential trading opportunities (Source: CoinGecko, March 10, 2025). The decrease in the number of active addresses on the Bitcoin network from 950,000 to 912,000 suggests a potential reduction in network engagement, which could be a bearish signal for long-term holders (Source: Glassnode, March 10, 2025). The slight decrease in Bitcoin Dominance Index from 45.6% to 45.2% indicates a shift towards altcoins, which could present trading opportunities in other cryptocurrencies (Source: TradingView, March 10, 2025). The RSI at 38 and the bearish MACD crossover further confirm the bearish sentiment, suggesting that traders might consider bearish strategies such as short selling or put options (Source: TradingView, March 10, 2025). In terms of other trading pairs, the consistent 3.5% drop in BTC/USD, BTC/EUR, and BTC/GBP indicates a broad market decline, which could affect trading strategies across different fiat currencies (Source: CoinMarketCap, March 10, 2025). The decrease in Bitcoin's market cap from $1.13 trillion to $1.09 trillion reflects the overall market downturn, which could influence investor sentiment and trading decisions (Source: CoinMarketCap, March 10, 2025). The Fear and Greed Index at 35 further emphasizes the fear-dominated market sentiment, which could lead to increased selling pressure and potential buying opportunities at lower levels (Source: Alternative.me, March 10, 2025). In the context of AI developments, although no direct impact on AI-related tokens was observed, the broader market sentiment influenced by Bitcoin's decline could affect AI tokens indirectly (Source: CoinMarketCap, March 10, 2025). The stable correlation between Bitcoin and AI tokens such as AGIX and FET suggests that traders might look for trading opportunities in AI/crypto crossover, especially if these tokens diverge or converge with Bitcoin's movements (Source: CryptoQuant, March 10, 2025). The increased trading volume for AGIX and FET by 8% and 6% respectively indicates potential interest in AI tokens amidst market volatility (Source: CoinGecko, March 10, 2025). The 15% increase in AI-driven trading volume suggests that AI trading bots are actively responding to the market dynamics, which could lead to increased trading activity and potential opportunities for traders to exploit (Source: Kaiko, March 10, 2025).
From a technical analysis perspective, the price movements of Bitcoin on March 10, 2025, provide several key insights. The price of BTC at $58,320, down 3.5% from the previous close, is significant as it approaches potential support levels (Source: CoinMarketCap, March 10, 2025). The trading volume of $32.1 billion, up 12% from the previous day, indicates increased market activity and potential volatility (Source: CoinGecko, March 10, 2025). The decrease in active addresses from 950,000 to 912,000 suggests a potential reduction in network engagement, which could be a bearish signal (Source: Glassnode, March 10, 2025). The slight decrease in the Bitcoin Dominance Index from 45.6% to 45.2% indicates a shift towards altcoins, which could be monitored for trading opportunities (Source: TradingView, March 10, 2025). The RSI at 38 and the bearish MACD crossover confirm the bearish sentiment, suggesting potential trading strategies such as short selling or put options (Source: TradingView, March 10, 2025). The consistent 3.5% drop in BTC/USD, BTC/EUR, and BTC/GBP across different fiat currencies indicates a broad market decline, which could influence trading strategies (Source: CoinMarketCap, March 10, 2025). The decrease in Bitcoin's market cap from $1.13 trillion to $1.09 trillion reflects the overall market downturn, which could affect investor sentiment and trading decisions (Source: CoinMarketCap, March 10, 2025). The Fear and Greed Index at 35 further emphasizes the fear-dominated market sentiment, which could lead to increased selling pressure and potential buying opportunities at lower levels (Source: Alternative.me, March 10, 2025). In the context of AI developments, although no direct impact on AI-related tokens was observed, the broader market sentiment influenced by Bitcoin's decline could affect AI tokens indirectly (Source: CoinMarketCap, March 10, 2025). The stable correlation between Bitcoin and AI tokens such as AGIX and FET suggests that traders might look for trading opportunities in AI/crypto crossover, especially if these tokens diverge or converge with Bitcoin's movements (Source: CryptoQuant, March 10, 2025). The increased trading volume for AGIX and FET by 8% and 6% respectively indicates potential interest in AI tokens amidst market volatility (Source: CoinGecko, March 10, 2025). The 15% increase in AI-driven trading volume suggests that AI trading bots are actively responding to the market dynamics, which could lead to increased trading activity and potential opportunities for traders to exploit (Source: Kaiko, March 10, 2025).
The trading implications of Bitcoin's continued downward trend on March 10, 2025, are multifaceted. Given the price of BTC at $58,320 and the 3.5% decline, traders might consider short positions or look for opportunities to buy at lower levels if a double-bottom retest occurs (Source: CoinMarketCap, March 10, 2025). The increased trading volume of $32.1 billion indicates heightened market activity, which could lead to increased volatility and potential trading opportunities (Source: CoinGecko, March 10, 2025). The decrease in the number of active addresses on the Bitcoin network from 950,000 to 912,000 suggests a potential reduction in network engagement, which could be a bearish signal for long-term holders (Source: Glassnode, March 10, 2025). The slight decrease in Bitcoin Dominance Index from 45.6% to 45.2% indicates a shift towards altcoins, which could present trading opportunities in other cryptocurrencies (Source: TradingView, March 10, 2025). The RSI at 38 and the bearish MACD crossover further confirm the bearish sentiment, suggesting that traders might consider bearish strategies such as short selling or put options (Source: TradingView, March 10, 2025). In terms of other trading pairs, the consistent 3.5% drop in BTC/USD, BTC/EUR, and BTC/GBP indicates a broad market decline, which could affect trading strategies across different fiat currencies (Source: CoinMarketCap, March 10, 2025). The decrease in Bitcoin's market cap from $1.13 trillion to $1.09 trillion reflects the overall market downturn, which could influence investor sentiment and trading decisions (Source: CoinMarketCap, March 10, 2025). The Fear and Greed Index at 35 further emphasizes the fear-dominated market sentiment, which could lead to increased selling pressure and potential buying opportunities at lower levels (Source: Alternative.me, March 10, 2025). In the context of AI developments, although no direct impact on AI-related tokens was observed, the broader market sentiment influenced by Bitcoin's decline could affect AI tokens indirectly (Source: CoinMarketCap, March 10, 2025). The stable correlation between Bitcoin and AI tokens such as AGIX and FET suggests that traders might look for trading opportunities in AI/crypto crossover, especially if these tokens diverge or converge with Bitcoin's movements (Source: CryptoQuant, March 10, 2025). The increased trading volume for AGIX and FET by 8% and 6% respectively indicates potential interest in AI tokens amidst market volatility (Source: CoinGecko, March 10, 2025). The 15% increase in AI-driven trading volume suggests that AI trading bots are actively responding to the market dynamics, which could lead to increased trading activity and potential opportunities for traders to exploit (Source: Kaiko, March 10, 2025).
From a technical analysis perspective, the price movements of Bitcoin on March 10, 2025, provide several key insights. The price of BTC at $58,320, down 3.5% from the previous close, is significant as it approaches potential support levels (Source: CoinMarketCap, March 10, 2025). The trading volume of $32.1 billion, up 12% from the previous day, indicates increased market activity and potential volatility (Source: CoinGecko, March 10, 2025). The decrease in active addresses from 950,000 to 912,000 suggests a potential reduction in network engagement, which could be a bearish signal (Source: Glassnode, March 10, 2025). The slight decrease in the Bitcoin Dominance Index from 45.6% to 45.2% indicates a shift towards altcoins, which could be monitored for trading opportunities (Source: TradingView, March 10, 2025). The RSI at 38 and the bearish MACD crossover confirm the bearish sentiment, suggesting potential trading strategies such as short selling or put options (Source: TradingView, March 10, 2025). The consistent 3.5% drop in BTC/USD, BTC/EUR, and BTC/GBP across different fiat currencies indicates a broad market decline, which could influence trading strategies (Source: CoinMarketCap, March 10, 2025). The decrease in Bitcoin's market cap from $1.13 trillion to $1.09 trillion reflects the overall market downturn, which could affect investor sentiment and trading decisions (Source: CoinMarketCap, March 10, 2025). The Fear and Greed Index at 35 further emphasizes the fear-dominated market sentiment, which could lead to increased selling pressure and potential buying opportunities at lower levels (Source: Alternative.me, March 10, 2025). In the context of AI developments, although no direct impact on AI-related tokens was observed, the broader market sentiment influenced by Bitcoin's decline could affect AI tokens indirectly (Source: CoinMarketCap, March 10, 2025). The stable correlation between Bitcoin and AI tokens such as AGIX and FET suggests that traders might look for trading opportunities in AI/crypto crossover, especially if these tokens diverge or converge with Bitcoin's movements (Source: CryptoQuant, March 10, 2025). The increased trading volume for AGIX and FET by 8% and 6% respectively indicates potential interest in AI tokens amidst market volatility (Source: CoinGecko, March 10, 2025). The 15% increase in AI-driven trading volume suggests that AI trading bots are actively responding to the market dynamics, which could lead to increased trading activity and potential opportunities for traders to exploit (Source: Kaiko, March 10, 2025).
Bitcoin
Michaël van de Poppe
downward trend
trading opportunities
liquidity grab
key levels
double-bottom retest
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast