On March 3, 2026, from 16:30 to 16:45 (UTC), Bitcoin experienced significant short-term volatility, with prices ranging from 67,485.3 to 68,829.8 USDT, a return of -1.60%, and an amplitude of 1.95%. In a zone bordering extreme panic and market bottom, investor attention continued to rise, and trading activity increased alongside volatility.
The main drivers of this movement were leveraged liquidations and long squeezes in the derivatives market. Data shows the funding rate was negative (-0.0081%), with retail longs accounting for as much as 65%, indicating a “retail chasing gains, institutional hedging” scenario. The short-term price decline triggered some long positions to stop out, with open interest high at around $5.2 billion. Institutions used contracts and options for hedging, amplifying the speed of the price decline.
Additionally, global macro risks continued to intensify, with safe-haven funds flowing heavily into gold, which rose 80% within a year. The new U.S. administration’s trade policies and escalating geopolitical conflicts increased pressure on risk assets. Although ETF fund flows showed some structural inflows (a net weekly inflow of $1.1 billion in February 2026), overall liquidity remained low. Mainstream exchanges’ Bitcoin reserves dropped to 2.46 million BTC, and whales accumulated over 150,000 BTC in three months. These on-chain signals suggest a bottoming pattern but have not yet absorbed the short-term selling pressure. The derivatives options liquidation heatmap indicates significant long liquidation near key support levels, with resonance effects further amplifying price movements.
Currently, the market remains at high short-term risk. Close attention should be paid to long liquidation chains, derivatives position structures, and ETF fund flows. Support levels around 60,000 USDT and changes in on-chain capital flows are critical indicators. Geopolitical risks, gold strength, and institutional participation remain key uncertainties influencing short-term volatility. Market participants are advised to stay alert to further market developments and be cautious of sudden fluctuations driven by macro news and liquidation risks.
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
A certain ancient whale sold 1000 BTC again 7 hours ago, worth approximately $71.57 million.
Gate News Alert: On March 19, according to on-chain analyst Remnants' monitoring, an ancient whale who accumulated 5000 BTC 13 years ago sold another 1000 BTC 7 hours ago, worth approximately $71.57 million.
GateNews35m ago
Bitcoin slips below $71K as on-chain data signals bullish momentum
Bitcoin retraced about 7% after briefly touching the $76,000 mark earlier in the week, as a confluence of macro headlines trimmed risk appetite. A jump in oil prices tied to Middle East tensions and a hotter-than-expected producer price index added headwinds for risk assets, including equities.
CryptoBreaking39m ago
BlackRock withdrew 2267 BTC and 5041 ETH from a certain CEX over the past 9 hours
Gate News reported that on March 19, according to Onchain Lens monitoring, BlackRock withdrew 2,267 BTC (valued at $161.82 million) and 5,041 ETH (valued at $11.02 million) from a certain CEX in the past 9 hours. Additionally, over the past 3 consecutive days, BlackRock has cumulatively withdrawn 8,435 BTC with a total value of $618.05 million.
GateNews43m ago
Gods Gathering in Crypto Winter: When Faith Becomes the Final Leverage
# From: Vanity Fair
**Compiled by:** Moni, Odaily Planet Daily
"I really can't hold on anymore."
In early February this year, the Signal inbox of a major cryptocurrency market maker was flooded with dozens of messages like this. The crypto market plummeted another 15%—within just a few days, $400 billion in market value vanished into thin air. Over the previous four months, dragged down by Bitcoin, the total cryptocurrency market value crashed nearly 50%, with Ethereum and Solana both declining close to 60%. This collapse erased approximately $2 trillion in value, dragging the industry into a bear market, which the crypto community refers to as a "crypto winter"—a somewhat nerdy metaphor paying homage to that unsettling line from *Game of Thrones*: "Winter is coming."
Project founders were thrown into a panic...
PANews1h ago
Why Bitcoin, Ethereum & XRP Prices Are Dropping—Is This a Bull Trap? - BTC Hunts
The post Why Bitcoin, Ethereum & XRP Prices Are Dropping—Is This a Bull Trap? appeared first on Coinpedia Fintech News
The crypto market has entered a corrective phase, with Bitcoin (BTC) price dropping to around $71,500, down nearly 3.33%, while Ethereum (ETH) price has also slipped
BTCHUNTS1h ago
