Bitcoin continued to trade sideways as confidence slowly returned, even as market caution remained high.
Recent property data from the US pointed to a deeper structural shift in demand. Buyers appeared active again, but the signal differed from previous cycles.
The question now focused on what the data actually revealed.
The market was not behaving like a dead cycle.
Every dip provoked renewed interest, and every upturn provoked strong reactions. That dynamic reflected a tense standoff between rising demand and persistent fear.
Ownership shift towards Bitcoin
On March 7, an analysis shared by Bitcoin Teddy reported that more than 50 million Americans owned Bitcoin, compared to about 37 million who owned gold.
Source:
The difference was noticeable. Gold had centuries of confidence behind it, but Bitcoin surpassed it in number of owners.
Yet the ownership figures alone did not translate into total market value. Total U.S. holdings of gold still significantly exceeded those of Bitcoin.
However, the data indicated otherwise. Retail investors seemed increasingly willing to view Bitcoin as a reserve alongside traditional stores of value.
Coinbase Premium signals strong demand for Bitcoin in the US
According to new data from CryptoQuant, Coinbase Premium showed that US investors had aggressively stepped in and bought Bitcoin [BTC].
Source: CryptoQuant
That premium was important because it reflected spot demand from American buyers willing to pay more. Above all, it suggested real conviction, not empty noise.
That’s why the market started to feel that pressure again.
This is where the story became sharper. American money did not return politely. Usually it came with force, and Bitcoin often reacted quickly when that happened.
However, demand alone could never guarantee safety. It just raised the stakes.
Can BTC Hold $63,700?
According to Alphractal analyst Joao Wedson, Bitcoin needed to hold $63,700 to avoid another downward move in the market.
Source:
Below that level, the next risk zones were at $57,000, $52,400 and $48,700. These levels were dynamic and changed daily with blockchain behavior.
Therefore, they were not fixed targets, but were serious warnings.
But did Bitcoin have the strength to stay above $65,000 at that point? The answer seemed to be yes.
However, the coming week, beginning March 9, will decide whether that force can survive the influx.
If the week were to open in green with massive inflows, Bitcoin would likely continue to show strength. However, if the flows were to turn red and the outflows returned, the weakness would continue. The bulls were just hoping that the latter outcome would not come to pass.
Final summary
- More than 50 million Americans reportedly own Bitcoin, surpassing the approximately 37 million Americans who own gold.
- Strong US demand indicated growing confidence in Bitcoin, despite continued market caution.