Bitcoin stays calm while other markets panic: key levels to watch

Crypto Daybook Americas Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin stays calm while other markets panic: key levels to watch Your day-ahead look for March 9, 2026 By Omkar Godbole | Edited by Sheldon Reback Mar 9, 2026, 11:24 a.m. Make us preferred on Google The price of oil surges as Iran war disrupts supplies; bitcoin held steady. (Maria Lupan/Unsplash modified by CoinDesk) What to know : If you're not already subscribed to the newsletter email, click here . By Omkar Godbole (All times ET unless indicated otherwise) Bitcoin BTC $ 67.494,29 and the broader crypto market stayed resilient Monday as an oil price surge above $100 shook Asian markets and triggered a drop in U.S. stock futures. The crypto calm may be shattered if bitcoin moves outside the $60,000- $75,000 range, data on major market participants' positions suggests. It's solidly within that range at the moment, though. The leading cryptocurrency by market value has risen over 3% since early Asian hours to trade around $68,000. The rally follows a week of back-and-forth action that saw the price rise to nearly $74,000 only to drop back to $67,000 over the weekend. The CoinDesk 20 Index (CD20), ether (ETH), XRP (XRP), solana (SOL) saw similar increases. This resilience to the war in the Middle East and risk-off sentiment in global stocks likely stems from the earlier outperformance of U.S. equities and the cryptocurrency's oversold status. Nothing reflects the crypto calm better than BTC's 30-day implied volatility index, BVIV, which remains steady around 60%. Wall Street's volatility indexes, meantime, the equity VIX, the oil VIX and the gold VIX have all surged to multiweek highs, indicating panic in traditional markets. Bitcoin market makers — those entities tasked with creating order book liquidity and ensuring seamless trading — are "short gamma" at $60,000 and $75,000. This means that if the market moves beyond those levels, they could trade in the direction of the price movement to rebalance their net exposure back to neutral. In other words, they may sell BTC as its price drops and buy when it rises, accentuating volatility. "If we look at the Deribit GEX (gamma exposure chart) we see dealers are short a lot of gamma at the $60k level and the $75k levels … essentially the ceiling and floor of the box. Should markets actually trade beyond the box, negative gamma will make things worse from a dealer rebalancing perspective," Amberdata's Director of Derivatives Greg Magadini said in an email. He added that traders are looking at the same levels and have hedged their own exposure at the ceiling and floor. Stay alert! Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today What to Watch For a more comprehensive list of events this week, see CoinDesk's " Crypto Week Ahead ". Crypto March 9: Solstice and Kamino to announce a new product or feature. Macro Nothing scheduled. Earnings (Estimates based on FactSet data) March 9: Sharplink (SBET), pre-market, $0.31 Token Events For a more comprehensive list of events this week, see CoinDesk's " Crypto Week Ahead ". Governance votes & calls Convex Finance is voting on Curve Ownership DAO Vote ID: 1358, which would onboard GHO as a Pegkeeper with a 3 million crvUSD debt ceiling. Voting ends March 9. Lido DAO is voting to make the delegate incentivization program (DIP 2.0) a permanent governance mechanism. Voting ends March 9. Lido DAO is voting to authorize a one-time $5 million DAO Treasury allocation into the upcoming Lido Earn ETH and USD Vaults. Voting ends March 9. Lido DAO is voting on whether Stakin (recently acquired by The Tie) should continue operating as a node operator and whether to approve updating Stakin's on-chain name and reward address. Voting ends March 9. Unlocks No major unlocks. Token Launches March 9: Nexira’s (NEXI) token generation event occurs, token to be listed on KuCoin. Conferences For a more comprehensive list of events this week, see CoinDesk's " Crypto Week Ahead ". Day 1 of 5: Policy Week 2026 (Sydney, Australia) Market Movements BTC is up 0.68% from 4 p.m. ET Sunday at $67,649.34 (24hrs: -0.36%) ETH is up 1.89% at $1,995.45 (24hrs: +1.12%) CoinDesk 20 is up 1.04% at 1,943.48 (24hrs: +0.12%) Ether CESR Composite Staking Rate is down 9 bps at 2.64% BTC funding rate is at -0.0025% (-5.8613% annualized) on Binance DXY is up 0.30% at 99.2812 Gold futures are down 0.70% at $5,110.00 Silver futures are up 0.21% at $84.00 Nikkei 225 closed down 5.20% at 52,728.72 Hang Seng closed down 1.35% at 25,408.46 FTSE 100 is down 1.22% at 10,159.26 Euro Stoxx 50 is down 1.70% at 5,622.84 DJIA closed on Friday down 0.95% at 47,501.55 S&P 500 closed down 1.33% at 6,740.02 Nasdaq Composite closed down 1.59% at 22,387.68 S&P/TSX Composite closed down 1.57% at 33,083.70 U.S. 10-Year Treasury rate is up 4 bps at 4.18% E-mini S&P 500 futures are down 0.90% at 6,682.75 E-mini Nasdaq-100 futures are down 0.96% at 24,434.00 E-mini Dow Jones Industrial Average futures are down 1.04% at 47,024.00 Bitcoin Stats BTC Dominance: 59.04% (0.62%) Ether-bitcoin ratio: 0.02951 (0.51%) Hashrate (seven-day moving average): 1,005 EH/s Hashprice (spot): $29.61 Total fees: 1.96 BTC / $131,828 CME Futures Open Interest: 100,675 BTC BTC priced in gold: 13.3 oz. BTC vs gold market cap: 4.56% Technical Analysis Bitcoin's 30-day implied volatility index, BVIV. (TradingView) The chart shows daily swings in bitcoin's 30-day implied volatility index, BVIV, in candlestick format. The index is hovering close to the upper end of its recent range. A potential breakout would mean higher volatility and risk aversion, leading to losses in bitcoin. Crypto Equities Coinbase Global (COIN): closed on Friday at $197.22 (-4.13%), -0.84% at $195.57 in pre-market Galaxy Digital (GLXY): closed at $20.56 (-9.57%), -0.17% at $20.52 MARA Holdings (MARA): closed at $8.01 (-8.67%), -0.12% at $8.00 Riot Platforms (RIOT): closed at $14.16 (-9.20%), -1.38% at $13.97 Core Scientific (CORZ): closed at $14.86 (-7.13%), -0.54% at $14.78 CleanSpark (CLSK): closed at $9.21 (-7.44%), -0.43% at $9.17 Exodus Movement (EXOD): closed at $10.90 (-2.50%) CoinShares Bitcoin Mining ETF (WGMI): closed at $36.07 (-8.10%), -0.80% at $35.78 Circle Internet Group (CRCL): closed at $101.91 (-3.62%), +1.24% at $103.17 Bullish (BLSH): closed at $34.96 (-0.17%), -1.34% at $34.49 Crypto Treasury Companies Strategy (MSTR): closed at $133.53 (-4.49%), +0.25% at $133.86 Strive Asset Management (ASST): closed at $8.70 (-5.95%), -0.23% at $8.68 Sharplink (SBET): closed at $7.36 (-7.19%), +2.45% at $7.54 Upexi (UPXI): closed at $0.90 (-6.44%), +4.44% at $0.94 Lite Strategy (LITS): closed at $1.14 (+0.88%) ETF Flows Spot BTC ETFs Daily net flows: -$348.9 million Cumulative net flows: $55.35 billion Total BTC holdings ~ 1.28 million Spot ETH ETFs Daily net flows: -$82.9 million Cumulative net flows: $11.66 billion Total ETH holdings ~ 5.64 million Source: Farside Investors While You Were Sleeping Oil prices surge to highest since 2022 at over $119 a barrel on Middle East war ( Reuters): Oil prices hit levels not seen since mid-2022 as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the war with Iran. The Strait of Hormuz is virtually shut. Iran signals a fight to the end with appointment of Khamenei’s son (The Wall Street Journal): The appointment of Mojtaba Khamenei as Iran’s new supreme leader defies President Trump and signals that Tehran has no plans to back down in the war with the U.S. and Israel. G7 to discuss discuss joint release of emergency oil reserves (Financial Times): G7 finance ministers are preparing to discuss the release of emergency oil reserves in a call coordinated by the International Energy Agency (IEA). Bitflyer volume surges 200% past Binance, Coinbase as oil spike sends Nikkei sliding (CoinDesk): Bitflyer's 24-hour trading volume is up 200% compared with 112% on Coinbase and 75% on Binance. In contrast, trading on Korean exchanges Upbit rose 27.1% and Bithumb, 49.0%. Crypto Daybook Americas Di più per voi Pudgy Penguins: Challenging the Pokemon and Disney Legacy in the Global IP Race Di CoinDesk Research 27 feb 2026 Commissioned by Pudgy Penguins CoinDesk Research looks into how Pudgy Penguins disrupts traditional toys market via a phygital model. With 2M+ units sold, they scale via global partnerships and events. Cosa sapere : Disrupting a Stagnant Market : Pudgy Penguins is utilizing a "Negative CAC" model to challenge the traditional $31.7B licensed toy industry by treating physical merchandise as a profitable user acquisition tool rather than just a final product. View Full Report More For You Bitcoin hit by short-termism as rally fades ahead of U.S. jobs data By Francisco Rodrigues | Edited by Sheldon Reback Mar 6, 2026 Your day-ahead look for March 6, 2026 What to know : If you're not already subscribed to the newsletter email, click here . 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