Crypto Market Outlook — 3-9-12
Bitcoin continues to experience considerable volatility, trading around $110K as traders closely monitor macroeconomic indicators ahead of Friday’s US jobs data. Institutional and retail accumulation of Bitcoin remains robust, setting the stage for a potential major breakout if positive macro signals emerge; however, technical indicators warn of a bearish shift following sustained price pressures from long-term holders. Meanwhile, Dogecoin has rebounded to $0.22 after defending key support at $0.21, buoyed by an uptick in institutional flows and high trading volumes. This renewed interest in both BTC and DOGE, alongside uncertainty around US economic data and Federal Reserve policy, suggests near-term choppiness with a cautiously optimistic bias if risk sentiment improves.