PANews February 9 News, Matrixport published an analysis stating that after a capitulation sell-off, Bitcoin is attempting a countertrend rebound. This round of decline has washed out weak positions and triggered passive selling pressure and chain reactions of forced liquidations in the derivatives market. In the short term, technical indicators still suggest room for upward movement; however, whether the rebound can go further depends on whether new funds enter the market, rather than solely relying on short covering and mechanistic hedging funds to sustain it.
As previously mentioned, Bitcoin remains in a larger bear market reset phase. During this stage, rapid rallies are not uncommon, but they are often difficult to sustain. On-chain data continues to confirm that the current environment remains fragile: demand momentum is weakening, and structural accumulation is limited. Meanwhile, options hedging activity is increasing, further amplifying volatility. If spot demand remains weak, prices are more likely to gap down, and the impact of derivatives on Bitcoin prices will also increase.
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# BTC 2026年3月10日00:15-00:30（UTC）价格异动深度归因报告
## 一、概述
2026年3月10日00:15至00:30（UTC）期间，比特币（BTC）价格出现明显异动，收益率达+0.82%。本报告将基于链上数据、市场行情、宏观环境、资金流向、衍生品市场、网络舆情等多维度，系统分析该时段BTC价格异动的可能原因，并进行深度归因。
## 二、行情回顾与数据概览
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