Trading Moment: BTC hits $80,000, Arthur Hayes warns 78,000 support level

Reprinted from panewslab

03/10/2025·2M

Trading Moment: BTC hits $80,000, Arthur Hayes warns 78,000 support
level

1. Market Observation

Keywords: Cocoro, ETH, BTC

Bitcoin fell to $80,000 this morning, and Ethereum also fell below $2,000 for a short time. Market sentiment indicators show that the Panic and Greed Index fell to 20, entering the extreme panic range. Bitcoin fell below the range after four months of sideways, but it has not completely backtested the previous high trading volume range. Observing the order book, it was found that the current largest pending orders were concentrated below 80K and above 95K, indicating that there was a lack of obvious trading opportunities in the current price range. Meanwhile, BitMEX co-founder Arthur Hayes warned that Bitcoin may backtest the $78,000 support level, and if it falls below or points to $75,000. In addition, over the weekend, the owner of DOGE prototype Shiba Inu KABOSU announced the adoption of a new dog and launched Cocoro tokens on the Base chain. Token economics released by Own The Doge shows that 20% will be used for community airdrops.

At the regulatory level, David Sacks, the White House head of cryptocurrency and artificial intelligence, opposed a proposal to tax every cryptocurrency transaction. At the same time, the Trump administration is exploring major tax reform plans, including abolishing federal income tax and switching to tariffs on imported goods. It is worth noting that Bitcoin magazine CEO David Bailey posted a statement saying that the U.S. Department of Justice may liquidate Bitcoin against the president's will, which may explain the recent price trend.

Against this background, the views and dynamics of all parties are attracting attention. Robert Kiyosaki, author of Rich Dad Poor Daddy, warns of the possibility of the largest stock market crash, suggesting investors hold physical gold, silver and Bitcoin rather than related ETF products. MicroStrategy co-founder Michael Saylor put forward a grand vision at the White House Digital Assets Summit, suggesting that the United States obtain 5%-25% of the global total Bitcoin supply by 2035, and is expected to generate $16 trillion to $81 trillion in value by 2045.

In response, Zeneca, founder of ZenAcademy, shared his investment experience in the previous market cycle this morning. He experienced eight-digit assets pullbacks and emphasized that "selling too early" is usually wiser than "holding too long", because most assets will eventually tend to zero. He reminded investors to consider partial reduction in positions when seeing investment returns and be wary of overconfident voices on social media. Zeneca believes that Bitcoin is better than most other assets in the long run, and advises investors to avoid over-immersing in the crypto market and maintain connections with non-crypto areas to avoid being swayed by market sentiment.

2. Key data (as of 13:00 HKT on March 10)

Bitcoin: $82,241.18 (-11.97%), daily spot trading volume is $37.038 billion
Ethereum: USD 2,061.23 (-38.11% during the year), daily spot trading volume is USD 22.789 billion
Corruption Index: 20 (extremely fearful)
Average GAS: BTC 3 sat/vB, ETH 0.65 Gwei
Market share: BTC 60.4%, ETH 9.2%