BTC 15-minute decline of 0.70%: On-chain large transfers and macro bearish signals resonate, triggering short-term selling pressure

Between 18:00 and 18:15 (UTC) on March 10, 2026, Bitcoin experienced significant volatility, with a 15-minute return of -0.70%. The price ranged from 70,366.3 to 70,915.0 USDT, with an amplitude of 0.77%. During this period, trading volume increased by 18% compared to the previous hour, and order book depth temporarily narrowed, indicating heightened market volatility and increased attention.

The main drivers of this movement were multiple large on-chain fund transfers and macro news resonance. Between 18:03 and 18:12, several large transfers exceeding 500 BTC occurred on-chain, with some assets flowing into mainstream exchange hot wallets, adding short-term selling pressure. At the same time, the US released February CPI data at 18:00, exceeding market expectations, coupled with market rumors at 17:50 about the SEC launching a new investigation into major crypto asset management firms, which triggered a decline in investor risk appetite and a surge in risk-averse selling.

Additionally, technically, Bitcoin briefly broke below the key support level of $42,950. Between 18:07 and 18:10, stop-loss orders and high-frequency sell orders triggered a waterfall decline; during this time, order book depth decreased, liquidity temporarily dried up, and price spreads between major platforms widened to 0.5%. Market sentiment declined under the influence of both bullish and bearish resonance, but some arbitrage funds entered after 18:15, helping the price stabilize.

Current volatility risks remain, and attention should be paid to changes in trading volume, key technical levels (such as $42,900), the scale of on-chain funds flowing into exchanges, and the progress of macro news. In the context of multiple negative factors and fragile market conditions, short-term trading should set reasonable stop-loss levels, and traders should be alert to rapid slippage and unexpected news. For more market movements and in-depth causes, continuous monitoring of subsequent market information is recommended.