{"id":95043,"date":"2026-03-09T10:54:31","date_gmt":"2026-03-09T07:54:31","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=95043"},"modified":"2026-03-10T10:32:42","modified_gmt":"2026-03-10T07:32:42","slug":"bitcoins-brief-dip-to-65700-amidst-macroeconomic-factors","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoins-brief-dip-to-65700-amidst-macroeconomic-factors\/","title":{"rendered":"Bitcoin&#8217;s Brief Dip to $65,700 Amidst Macroeconomic Factors"},"content":{"rendered":"<p>On March 9, the price of the leading cryptocurrency briefly fell to around $65,700. Experts are divided on the market&#8217;s future trajectory: some anticipate growth, while others warn of potential declines due to macroeconomic uncertainty.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"661\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-7e5abc217c2747bd-8258995875594513-1024x661.png\" alt=\"BTCUSDT_2026-03-09_10-03-33\" class=\"wp-image-276430\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-7e5abc217c2747bd-8258995875594513-1024x661.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-7e5abc217c2747bd-8258995875594513-300x194.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-7e5abc217c2747bd-8258995875594513-768x496.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-7e5abc217c2747bd-8258995875594513.png 1429w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USD on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, the asset is trading around $67,185 (+0.1% over the day).<\/p>\n<p>Bloomberg Intelligence Senior Strategist Mike McGlone suggested that Bitcoin could drop to $50,000, with silver potentially falling to $50 per ounce.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Iran War May Enhance Bitcoin Bear, Fuel Silver Peak \u2014 <br \/>Bear markets are notable for sharp bounces, and Bitcoin has done so. A top reason the crypto may have rebounded roughly 12% to March 4, almost matching crude oil&#8217;s gain since the start of the Iran war, is highlighted by the\u2026 <a href=\"https:\/\/t.co\/wV5Qf8cvCl\">pic.twitter.com\/wV5Qf8cvCl<\/a><\/p>\n<p>\u2014 Mike McGlone (@mikemcglone11) <a href=\"https:\/\/twitter.com\/mikemcglone11\/status\/2030355866310840634?ref_src=twsrc%5Etfw\">March 7, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Swan Bitcoin Managing Director John Haar <a href=\"https:\/\/www.dlnews.com\/articles\/markets\/bitcoin-recovers-from-usd-66000-shock-as-experts-predict-volatility-and-silver-linings\/\">noted<\/a> that during periods of market instability, the leading cryptocurrency behaves like a high-risk asset. In the long term, its price is determined by adoption expansion and monetary properties.<\/p>\n<p>The market dynamics heavily depend on institutional investors. Citrea co-founder Orkun Mahir K\u0131l\u0131\u00e7 identified spot <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>s as the main gateway for traditional capital.<\/p>\n<p>MyDoge founder Jordan Jefferson emphasized that locally, macro shocks pressure Bitcoin&#8217;s price. Globally, independent financial infrastructure benefits from the weakness of <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span>. Bank failures and fiat currency devaluation drive users to digital assets for wealth preservation.<\/p>\n<h2 class=\"wp-block-heading\">US Stock Market Plunge<\/h2>\n<p>Ed Yardeni of Yardeni Research <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-09\/yardeni-raises-odds-of-markets-meltdown-to-35-on-iran-war-risks\">believes<\/a> that the likelihood of a market crash by year-end has increased from 20% to 35%. The chances of speculative growth driven solely by investor enthusiasm have decreased from 20% to 5%.<\/p>\n<p>The main reason for the revision is rising oil prices. On March 9, prices exceeded $100 per barrel for the first time since 2022. The energy shock hits household incomes, reduces corporate profits, and complicates the task of the <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">Fed<\/span>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe US economy and stock market are caught between a rock and a hard place. So is the Fed. If high oil prices persist, the regulator will face a tough choice between rising inflation and increasing unemployment,\u201d Yardeni stated.<\/em><\/p>\n<\/blockquote>\n<p>Amidst this, the dollar has become the main beneficiary. Over the week, the US currency has risen against almost all major competitors. Traditional safe-haven assets like Treasury bonds, the Japanese yen, the Swiss franc, and gold are depreciating.\u00a0<\/p>\n<p>Futures on the S&#038;P 500 index fell by 1.6%. Hedge funds are actively increasing short positions on US stocks.<\/p>\n<p>Despite short-term risks, the strategist&#8217;s base scenario remains positive:\u00a0<\/p>\n<ol class=\"wp-block-list\">\n<li>60% \u2014 probability of the \u201cRoaring Twenties\u201d by year-end. This scenario envisions confident US economic growth driven by productivity gains. Over the next decade, the probability of this scenario reaches 85%.<\/li>\n<li>15% \u2014 chance of a repeat of 1970s stagflation within a decade.<\/li>\n<\/ol>\n<p>Yardeni emphasized: if investors believe in the reality of stagflation, the onset of a full-scale bear market will become the most likely outcome.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin&#8217;s Correlation with the IT Sector<\/h2>\n<p>The recent synchronous movement of digital gold and US software developer stocks is linked to macroeconomics, not structural market merging. This was <a href=\"https:\/\/viewemail.nydig.com\/bitcoin-not-software-stocks?ecid=ACsprvtfqajtDvHQTBK_HLsIEfkw0IrLPfZKlm5q4Cwh1-1zUmt4CQmeLQSDP8AALTwFKPhBwV9p&#038;utm_campaign=Research%20Emails&#038;utm_medium=email&#038;_hsenc=p2ANqtz-_q7vwWAfxeuPhRnKZzufbseSx9Ma7ezblKObioIKKocL8rIRCGTTOSuf7Oi_vAqo345XetB_fJdPsjHxHt5DDe_gsgLPPdmLJkXh2ZabVoZw48ipA&#038;_hsmi=407416338&#038;utm_content=407416338&#038;utm_source=hs_email\">stated<\/a> by NYDIG&#8217;s Head of Research Greg Cipolaro.<\/p>\n<p>Last week, the leading cryptocurrency rose alongside the IT sector. In light of this, market participants began to perceive Bitcoin as a proxy tool for evaluating developer companies.<\/p>\n<p>According to Cipolaro, price charts look similar, but the assets do not share common trends like AI development. Their simultaneous rise is merely a reaction of liquidity-sensitive risk instruments to current economic conditions.<\/p>\n<p>Over the past 90 days, Bitcoin&#8217;s correlation has increased not only with software developer stocks but also with the S&#038;P 500 and Nasdaq indices.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/crypto-markets\/prices\/btc-pearson-correlation-30d\/embed\" title=\"BTC Pearson Correlation (30D)\"><\/iframe><\/p>\n<p>Meanwhile, the stock market explains only a quarter of cryptocurrency price movements. The remaining 75% of price changes depend on factors not directly related to traditional exchanges.<\/p>\n<p>The analyst noted that investors are not currently using Bitcoin as a hedge against macroeconomic shocks. As a result, the asset has yet to justify its status as \u201cdigital gold.\u201d Traders buy cryptocurrency simply as one of the risk assets.<\/p>\n<p>However, Bitcoin retains its own economic drivers: network activity, adoption rates, and regulatory features.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThis uniqueness maintains Bitcoin&#8217;s status as a portfolio diversification tool. Correlation with stocks is high now, but it does not determine cryptocurrency returns,\u201d the expert concluded.<\/em><\/p>\n<\/blockquote>\n<p>Earlier in March, VanEck&#8217;s Jan van Eck <a href=\"https:\/\/forklog.com\/en\/news\/vaneck-ceo-discusses-bitcoins-price-floor-formation\">stated<\/a> that the price of digital gold had approached a local bottom.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 9, the price of the leading cryptocurrency briefly fell to around $65,700. Experts are divided on the market&#8217;s future trajectory.<\/p>\n","protected":false},"author":1,"featured_media":95044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"On March 9, Bitcoin briefly dipped to $65,700 amid macroeconomic uncertainty.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1138],"class_list":["post-95043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"98","promo_type":"1","layout_type":"1","short_excerpt":"On March 9, Bitcoin briefly dipped to $65,700 amid macroeconomic uncertainty.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=95043"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95043\/revisions"}],"predecessor-version":[{"id":95045,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95043\/revisions\/95045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/95044"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=95043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=95043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=95043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}