Market Commentary – March 9th, 2023

At the time of writing, Bitcoin is trading at $21,710 USD and Ethereum at $1,538 USD. According to Glassdone, Bitcoin prices have been rejected from a series of psychological on-chain levels, related both to investors from the 2021-22 cycle and also for the whale cohort of investors. Profit-taking and capital flows have started to take place, although they remain low by historical standards.