On March 8, 2026, from 02:45 to 03:00 (UTC), Bitcoin (BTC) price candlestick data shows a 15-minute return of -0.71%, with the lowest at 66,837.0 USDT and the highest at 67,402.7 USDT, with an amplitude of 0.84%. Short-term volatility has attracted market attention, with on-chain risk signals rising to 0.84, above the historical average. Investor sentiment remains cautious, and market fluctuations have intensified.
The main driver of this movement is the US February employment data, which significantly underperformed expectations, with a sharp decline in new jobs and the unemployment rate rising to 4.4%. Coupled with the delay in Federal Reserve rate cut expectations, market risk appetite has quickly decreased, prompting capital to flow into safe-haven assets. Macro pressures have caused BTC prices to be affected, failing to break through key resistance levels effectively, with obvious short-term downward pressure.
Additionally, on-chain data shows that miners continued large-scale selling in Q1 2026, with listed mining companies selling over 15,000 BTC in total, significantly increasing supply pressure. Meanwhile, leverage in the derivatives market remains high, and frequent liquidation events have amplified volatility. Spot Bitcoin ETF funds have experienced net outflows for three consecutive days, totaling nearly $486 million, further weakening market support. The market fear and greed index has fallen into the “Extreme Fear” zone, RSI indicates oversold conditions, and technical momentum has weakened, creating a multi-factor resonance effect that amplifies downward price movement.
Currently, BTC short-term volatility risk is increasing, placing it in a high-risk zone, near the key support range of $60,000–$69,000. Attention should be paid to the evolution of macro events, ETF fund net flows, on-chain capital movements, and leverage changes in the derivatives market. Users are advised to stay alert, closely monitor the latest market developments, and promptly follow key market information.
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