At the end of the first week of March, Bitcoin is under notable selling pressure and may retest the $60,000 area after losing the $68,000 support level. Technical indicators on the BTC chart show a descending channel, a drop below the 200-day moving average and an RSI reading under 40. These signals suggest bearish momentum, with key buyer interest clustered between $52,000 and $55,000.

Bitcoin fell from near $72,000 to about $67,000 within 96 hours, during which an OnchainLens-tracked whale closed a roughly $47.74 million WBTC position on 7 March, realizing an estimated $19.62 million loss. CoinGlass data showed longer-term buyers face average losses of 18.8% and a negative $16.64 billion net flow, yet exchanges recorded about $416.9 million in net Bitcoin outflows over the past two days as reserves dropped from 2.47 million BTC to 2.43 million BTC.

After a turbulent week, Bitcoin traded in a relatively narrow range over the weekend while its broader structure still resembles a bear market. An on-chain analyst highlighted that rising long-term holder active supply and a prior drop from about $95,000 to nearly $60,000 indicate the BTC price may remain vulnerable, despite short-term support around $60,000–$62,000 and a current level near $67,628.

Samson Mow, CEO of Jan3, has again sparked the long-running discussion over Bitcoin's ability to outpace gold by describing Bitcoin as "exponential gold." He and other commentators emphasize Bitcoin's fixed 21 million supply and halving-driven issuance decline, contrasting it with gold's steadily expanding supply as a key factor in their long-term performance expectations.

Bitcoin has dropped back under the $70,000 level while spot market flows reportedly climbed about 137%, signaling a sharp rise in capital movement across exchanges. The asset is trading around $67,700 amid heightened volatility, with both long and short positions being cleared as traders react to the breakdown. Despite the turbulence, the broader market structure around the $70,000 psychological zone is still seen as potentially intact.

Bitcoin plunged from an October 2025 peak above $126,000 to $60,000 by early February before rebounding to around $70,000. The article asks Gemini and ChatGPT whether this 52% drop marked the cycle low, with both outlining probabilities and price scenarios for either a confirmed bottom or another sharp correction.

Into Sunday's weekly close, Bitcoin traded below its 200-week exponential moving average near $68,310, keeping that long-term trend line at risk of turning into resistance. Some traders warned that a candle close under this level could lock in bearish structure, while others pointed to potential support around $65,000–$60,000 and tracked gold and oil moves as possible triggers for a rebound.

According to the Bureau of Labor Statistics, US nonfarm payrolls in February fell by 92,000, the unemployment rate climbed to 4.4%, and earlier months were revised lower by 69,000, removing 161,000 jobs from the year’s starting picture. BLS has also applied an annual benchmark revision that cut March 2025 payroll levels by 862,000 on a not seasonally adjusted basis, raising concerns that markets and Bitcoin traders have been reacting to a labor market that looked stronger in real time than in the finalized data. These shifts in employment figures are reshaping expectations for interest rates, financial conditions, and risk sentiment across assets.