Key Highlights
- BTC declined 0.5% to approximately $69,583 during Wednesday’s Asian session
- The digital asset temporarily climbed past $70K on Tuesday following Trump’s comments about potential Iran conflict resolution
- Wednesday’s US inflation report could influence Federal Reserve policy expectations and cryptocurrency market sentiment
- Net inflows into Bitcoin spot ETFs reached $251 million on March 10
- Market sentiment indicator shows Crypto Fear & Greed Index holding at 15, indicating “extreme fear”
The world’s leading cryptocurrency retreated below the $70,000 threshold during Wednesday’s Asian trading hours, declining 0.5% to reach $69,583.5 as of 01:55 ET. This pullback followed a temporary rebound above $70,000 witnessed the previous day.
Tuesday’s upward momentum was partially attributed to statements from President Donald Trump, who indicated the Iranian conflict might be “pretty much” resolved. This commentary temporarily boosted market sentiment and lifted Bitcoin from the mid-$60,000 levels observed earlier in the week.
However, Trump subsequently warned via Truth Social that any Iranian interference with oil supplies would trigger increased US military action. Armed confrontations involving American, Israeli, and Iranian military forces near the Gulf region have persisted.
🚨 BREAKING — PRESIDENT TRUMP SENDS NATION-ENDING ULTIMATUM TO IRAN
“If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far.
Additionally, we will take… pic.twitter.com/tl0DRl2nli
— Nick Sortor (@nicksortor) March 10, 2026
Crude oil valuations had surged near $120 per barrel following the effective closure of the Strait of Hormuz, disrupting critical maritime shipping lanes. While prices moderated after Trump’s initial statements, they continue trading at elevated levels.
According to market analytics firm Santiment, social media discourse surrounding Bitcoin pivoted back toward optimism on Tuesday. Favorable discussions increased across platforms including X, Reddit, and Telegram in response to Trump’s comments and the retreat in oil prices.
🤑 Bitcoin sentiment has jumped back into FOMO territory after its market value exceeded $70K Tuesday. Across X, Reddit, Telegram, and other crypto-related discussions, the crowd is encouraged by Trump’s comments that the war may soon end, and oil prices reversing course. pic.twitter.com/S21cXOUM0F
— Santiment (@santimentfeed) March 10, 2026
ETF Capital Flows and Corporate Accumulation
Bitcoin exchange-traded funds registered combined net inflows totaling $251 million on March 10. Corporate Bitcoin accumulator Strategy acquired approximately 18,000 BTC last week, followed by an additional purchase this week.
On March 10, Eastern Time, the total net inflow into Bitcoin spot ETFs was $251 million, with no ETF experiencing net outflows. The Bitcoin spot ETF with the highest net inflow in a single day was the BlackRock ETF IBIT, which saw a net inflow of $186 million. Ethereum spot ETFs… pic.twitter.com/wGLkZmUBJD
— Wu Blockchain (@WuBlockchain) March 11, 2026
Merkle Tree Capital’s Chief Investment Officer Ryan McMillin observed that Bitcoin has maintained support above its February lows, demonstrating durability amid geopolitical turbulence. He suggested bearish positions could experience a squeeze toward the $80,000 level.
Cryptocurrency analyst Rachael Lucas from BTC Markets emphasized that breaking back above $70,000 publicly would revive FOMO (fear of missing out), identifying it as a critical resistance threshold.
Market Sentiment Remains Deeply Negative
Notwithstanding improved social platform sentiment, the Crypto Fear & Greed Index registered 15 on Wednesday, maintaining its “extreme fear” classification. Google search interest for “Bitcoin” measured approximately 71, declining from its March 5 peak of 100.
$BTC monthly RSI is indicating that a cycle bottom hasn’t happened.
IMO, when monthly RSI drops below 40, a cycle bottom will occur. pic.twitter.com/QiBeSaz6zn
— Ted (@TedPillows) March 10, 2026
The United States Consumer Price Index report is scheduled for release later Wednesday. These inflation metrics may reshape Federal Reserve monetary policy projections and impact risk appetite across cryptocurrency markets.
Market participants are also monitoring developments regarding the stalled CLARITY Act. Reports suggest US senators are working toward a compromise concerning stablecoin yield regulations, a contentious issue dividing traditional banking institutions and cryptocurrency companies.
