The futures market is showing continued weakness in demand for Bitcoin (BTC), a situation that could lead to an ongoing price decline for the largest cryptocurrency by market capitalization.
Bitcoin fell as low as $78,000 on March 10, its lowest price of the year and below the key support level of $80,000. While the price has since recovered to $81,000, crypto analysts are urging caution as futures markets show signs of continued weakness for Bitcoin and other digital tokens.
Bitcoin futures expiring on March 15 are showing signs of pronounced weakness and bearish indicators, according to data from Deribit, the world’s leading crypto options exchange. Essentially, options traders are betting on a continued slide in Bitcoin over the near-term, with some bets that the price will fall as low as $70,000.
Poor Sentiment
Some analysts are warning that sentiment towards Bitcoin and crypto in general is now at its most negative in over a year. So far in 2025, BTC has fallen 13% and is down 25% from an all-time high of just over $109,000 reached on Jan. 20 of this year, the day of President Trump’s inauguration.
The slide in cryptocurrency prices has coincided with an ongoing deterioration in U.S. equities, with the blue-chip Dow Jones Industrial Average down another 700 points at midday on March 11 as investors grow increasingly worried about a potential recession and ongoing trade disputes between the U.S. and countries such as Canada and China.
Is BTC a Buy?
Most Wall Street firms don’t offer ratings or price targets on Bitcoin, so we’ll look at the cryptocurrency’s three-month performance instead. As one can see in the chart below, the price of BTC has declined 21% in the last 12 weeks.
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