March 11 News: As investors remain cautious ahead of the upcoming U.S. CPI data release later today, Bitcoin (BTC) price has fallen over 2%. According to crypto.news, Bitcoin dropped from a intraday high of $71,612 on Tuesday to close at $69,936 on Wednesday, showing clear short-term pressure.
Economists expect the U.S. Bureau of Labor Statistics to report a 0.3% month-over-month increase in February CPI, higher than January’s 0.2%, with year-over-year growth remaining at 2.4%. Core CPI is expected to rise 0.2% month-over-month, with a 2.5% year-over-year increase. Although inflation data is crucial for Federal Reserve monetary policy decisions, since February’s figures do not yet reflect the surge in oil prices, Bitcoin’s initial reaction after the data release may remain relatively stable.
Recent Middle East tensions have impacted market sentiment, with Iran attacking ships passing through the Strait of Hormuz, threatening global energy supplies and pushing crude oil prices above $100 per barrel. Analysts suggest this event could temporarily boost Bitcoin’s safe-haven demand, but overall trend remains sideways.
From a technical perspective, Bitcoin currently faces a key resistance zone between $71,000 and $72,000, which bulls find difficult to break in the short term. A drop below the support area of $66,000 to $67,000 could trigger a larger correction. The CME FedWatch tool indicates that the market almost fully expects no rate cut in March, with only a 25 basis point cut priced in for April. Typically, rising expectations of Fed rate cuts can strengthen crypto assets; conversely, expectations of no cuts may pressure Bitcoin.
In summary, investors should exercise caution ahead of today’s CPI release, closely monitor Bitcoin’s short-term reactions to inflation data and geopolitical risks, and pay attention to key support and resistance levels to assess potential corrections and rebounds.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
MicroStrategy Stock Rallies as Bitcoin Breaks $78K, Unrealized Gains Return to $1.37B
MicroStrategy's stock surged 13.83% as Bitcoin reclaimed $78,000, returning the company to an unrealized profit of $1.37 billion. The rise follows easing tensions in the Middle East and a broader rally in risk assets, despite criticism of its preferred stock.
GateNews26m ago
Morgan Stanley Purchases 177.76 BTC Worth $13.75 Million
Gate News message, Morgan Stanley bought 177.76 BTC worth $13.75M three hours ago. The firm now holds 1,347.54 BTC worth $103.94M in total.
GateNews3h ago
BTC fell below 77000 USDT
Gate News bot message, Gate quotes show that BTC fell below 77000 USDT, trading at 76961.6 USDT.
CryptoRadar4h ago
NYSE Welcomes Morgan Stanley’s MSBT Launch as First Spot Bitcoin ETF Issued by a Major US Bank
Bank-backed bitcoin ETFs are accelerating institutional adoption and strengthening market credibility. The NYSE marked a new milestone as Morgan Stanley Investment Management rang the closing bell and celebrated the launch of MSBT, which the NYSE described as the first spot bitcoin ETF by a major
Coinpedia7h ago
BTC falls 0.49% in 15 minutes: fragile long leverage and active sell-off pressure resonate to weigh on the short term
From 18:00 to 18:15 (UTC) on 2026-04-17, the BTC price fluctuated and trended downward within the 77097.4 to 77573.2 USDT range. Over these 15 minutes, the return rate recorded -0.49%, and the amplitude reached 0.61%. During this period, market trading was active; short-term volatility was amplified, and trading attention increased significantly. The main driver behind this abnormal move is that the overall leverage structure is bearish and long positions are fragile. At present, the BTC perpetual contract funding rate has remained negative for 11 consecutive days, indicating that the bears have the upper hand in the market. In addition, futures open interest (OI) is about 628.3 billion USDT, which is at a historical high. During the anomaly window, trading volume increased noticeably. On-chain data shows large amounts of BTC flowing from long-term holder addresses to exchanges, suggesting that active sell orders may have triggered longs to passively reduce positions, amplifying downward price pressure. Moreover, institutional positioning enthusiasm in the mainstream contract market has cooled off; liquidity boundaries have tightened, causing large-trade activity to have an amplified effect on market volatility. In the options market, implied volatility rose to 39.81%, increasing demand for downside protection and reflecting a defensive posture among market participants. Macro-environment volatility and some capital flowing into safe-haven assets, together with the recent regulatory uncertainty-related historical events, reinforced the move, pushing overall market risk appetite lower. Current BTC leverage risks still remain. If, in the future, there are concentrated sell-offs, volatility may be further amplified. It is recommended to continue monitoring sustained high OI levels, the persistence of negative funding rates, and on-chain transfers of large amounts of funds, and to stay alert for whale behavior and any disruptions to market sentiment caused by macro-policy developments. For subsequent price action, please watch key support levels, institutional and whale on-chain moves, and relevant global market news, and guard against short-term risks.
GateNews9h ago
