On March 9, 2025, Bitcoin continued its recent volatile trend, with an intraday price oscillating between $87,500 and $89,200, ultimately closing at $88,400, a slight decrease of 0.8% from the previous day, with a 24-hour trading volume exceeding $60 billion. Technical analysis indicates that Bitcoin remains constrained by the key resistance level of $90,000 in the short term; if it cannot break through this level, it may further test the support area of $85,000.

Market sentiment is being pulled in multiple directions: on one hand, U.S. Congressman Nick Begich and Senator Cynthia Lummis are expected to announce significant progress on 'Bitcoin policy' next week, which has sparked optimistic expectations and may involve measures like strategic reserve expansion; on the other hand, the Federal Reserve's March interest rate meeting is approaching, raising concerns among investors that rate hikes might suppress the performance of risk assets. Additionally, the Bitcoin halving cycle effect is set to begin in September, and historical data shows that this event often drives prices upward in the long term.

There is a significant disparity in institutional forecasts; Standard Chartered maintains a year-end target price of $200,000, but short-term volatility risks are high. Some analysts suggest that investors should pay attention to the impact of policy implementation and miner costs (currently at $78,000) on prices in the interim. $BTC