Analysis: BTC may fall to the range of 70,000 to 80,000 US dollars, and there are almost no obvious positive catalysts in the short term

PANews reported on March 10 that BTSE Chief Operating Officer Jeff Mei said in an interview with CoinDesk that geopolitical and economic uncertainties are prompting institutions to reduce their holdings of crypto assets, and Bitcoin could fall to a range of $70,000 to $80,000 in the coming weeks. He pointed out that major cryptocurrencies may only return to their previous historical highs when the tariff war ends and the Federal Reserve resumes cutting interest rates.

In addition, Augustine Fan, head of insights at SignalPlus, expressed a pessimistic view about the technical outlook for Bitcoin. He believes that the current price trend is very negative technically, high realized volatility has further worsened Bitcoin's risk-adjusted performance, and there are almost no obvious positive catalysts in the short term.

CoinDesk's analysis also pointed out that Bitcoin is testing its 200-day simple moving average (SMA). If it falls below this key support line, it could mean a break in important trend lines. Both market sentiment and technical aspects show significant downward pressure.