Bitcoin Bitcoin
btc
-1.07%
Bitcoin broke below $81,000 again on March 10, falling 5% in the past 24 hours amid a broad market downside, while the total crypto market capitalization slid to $2.7 trillion as digital asset investors liquidated virtual currencies to protect capital.
Nassar Achkar, representing the Dubai-based crypto exchange CoinW discussed many topics with crypto.news in an interview, including how $100,000 remains a psychological hurdle for Bitcoiners and dipping below $70,000 is unlikely. Below is a transcript of the interview.
Q – Based on exchange activity (volumes, inflows, withdrawals), are crypto investors buying this dip?
A – The current crypto market is showing a new norm—investors are buying BTC instead of altcoins. This shift has led to a clear seperate between Bitcoin and the broader altcoin market.
First of all, following the Bybit incident, Binance saw an inflow of nearly $4 billion in a single week, significantly outpacing other major exchanges. Rather than a classic buy-the-dip scenario, this surge appears to be driven by risk-off sentiment, with large amounts of capital consolidating within a single exchange for safety.
Meanwhile, Ethereum Ethereum
eth
-9.67%
Ethereum has been on a downward trend, and SOL faces a significant token unlock, prompting investors to wait for lower entry points. Even as BTC sees slight recoveries, the overall market sentiment remains cautious, with investors opting to hold assets rather than aggressively investing.
Trump’s recent pro-crypto stance has further reinforced Bitcoin’s dominance, drawing more attention and liquidity toward BTC rather than altcoins while traders await clearer signals before making significant moves. In fact, the past three months have seen a steady decline in overall CEX trading volumes, reflecting the prevailing uncertainty and fear emotion in the market.
