Bitcoin is struggling to recover from its recent lows, dropping to $77,700 on March 10, 2025, amid intense selling pressure from miners, macroeconomic uncertainty, and dashed hopes for a government Bitcoin reserve purchase.
According to CryptoQuant analyst IT Tech, miners are increasingly moving their Bitcoin to exchanges as prices decline, acting as “forced sellers” to cover operational costs like electricity and equipment expenses. This surge in miner sell-offs adds to market liquidity challenges, particularly as the average cost of Bitcoin mining continues to rise, putting financial strain on miners and driving them to offload more BTC even at lower prices.
The downturn is compounded by broader economic concerns, including Trump administration tariffs on major trading partners like Mexico, Canada, and China, which have fueled market volatility and investor caution. Disappointment over the U.S. government’s decision not to buy additional Bitcoin for its strategic reserve—initially proposed under Trump’s crypto-friendly policies—has further dampened sentiment, reversing earlier bullish expectations. If enough buyers step in to absorb the Bitcoin miners are selling, the price could stabilize and potentially rebound. However, if demand remains weak while miner sales persist, Bitcoin’s price could slide further, with some analysts, like Arthur Hayes, predicting a deeper retracement toward the $70,000 range.
Hayes noted that a 36% correction from Bitcoin’s all-time high of $110,000 is typical in a bull market, but the current trajectory suggests more downside risk in the near term. Stay informed on Bitcoin price trends with Crypto Market Insights on news.thecoininfo.com, and explore in-depth analysis on The Coin Info Hub at thecoininfo.com.
