Analysis: Bitcoin remains resilient, and expectations for a return to the $70,000 to $80,000 range are rising.

PANews reported on March 10th that Matrixport published an analysis stating that Bitcoin has been consolidating sideways since early February. Despite escalating geopolitical tensions, weak US employment data, and a general global stock market correction (with a significant drop in the South Korean stock market), Bitcoin has demonstrated strong resilience. Even with a sharp rise in oil prices over the weekend, Bitcoin only retraced to the support level around $66,000, which has continued to provide support. The firm also mentioned in a previous daily report that the possibility of Bitcoin regaining strength and returning to the $70,000 to $80,000 range is increasing. As the market gradually digests the impact of the Iranian conflict, Bitcoin is expected to break free from geopolitical disturbances and recover towards a higher trading range.