BTCUSD Today, March 10: Price Rebounds to $69K as 20 Millionth Coin Mined

Buy bitcoin interest is surging in Canada today, March 10, as Bitcoin (BTCUSD) rebounds toward US$69,000 and the network mines its 20 millionth coin. This milestone spotlights a fixed 21 million cap and a slower issuance path that supports long-term scarcity. We break down why the “Bitcoin 20 million” mark matters, what the BTC price rebound may signal, and practical ways Canadians can get exposure through TSX-listed ETFs or regulated platforms while keeping risk in check before they buy bitcoin.

Why the 20 millionth coin matters

Bitcoin’s supply is hard-capped at 21 million. Hitting 20 million mined leaves the final 1 million to be issued gradually over roughly 114 years, underscoring how new supply keeps shrinking. That schedule, confirmed by on-chain watchers, is a core pillar of the scarcity thesis fueling demand today source.

Issuance halves every 210,000 blocks in a process known as the Bitcoin halving. With fewer new coins entering the market, price is increasingly set by demand and liquidity. Long-term holders often cite this structure when they buy bitcoin, though near-term moves still depend on broader risk appetite, funding rates, and flows across major spot and derivatives venues.

BTC price rebound: what is driving it today

Bitcoin’s bounce toward US$69,000 follows a bout of risk pressure earlier in the week, with traders eyeing resistance near recent highs and liquidity pockets above. The rebound coincides with renewed focus on the 20 million milestone and improving sentiment gauges, as reported today by industry media source.

For Canadians, spot Bitcoin ETFs on the TSX, such as BTCC, EBIT, and FBTC, provide T+2 settlement, CAD pricing, and RRSP or TFSA eligibility. They simplify custody and tracking error versus holding coins directly. Active traders may still use crypto exchanges offering CAD pairs, but they should compare spreads, fees, and liquidity before they buy bitcoin.

Technical picture and levels to watch

Near-term signals are mixed. RSI is 45.06, sitting in neutral territory. MACD histogram is positive at 1,100.71, hinting at improving momentum, while ADX at 37.64 points to a strong trend backdrop. Average True Range of 3,873.49 highlights elevated volatility. Together, these suggest constructive, but not one-way, conditions for swing traders considering whether to buy bitcoin.

Bollinger Bands show upper 71,646.34, middle 67,821.28, and lower 63,996.22. Trading near the upper band can signal strength, but also overextension risk. Keltner upper sits at 77,770.59. On-balance volume remains negative, and MFI at 48.42 is neutral. A sustained hold above the middle band often favours buyers, while a close below it can invite tests of support.

How Canadians can gain exposure and manage risk

New investors often start with TSX-listed spot Bitcoin ETFs for simplicity and CAD pricing. Direct purchases on regulated Canadian platforms allow self-custody in hardware wallets, which reduces counterparty risk. Compare management fees, trading commissions, and spreads. Cold storage and clear recovery procedures matter as much as entry price when you decide to buy bitcoin.

Many Canadians use dollar-cost averaging and small allocations to manage volatility. ETFs in RRSPs defer taxes, while TFSA-held ETFs can shelter gains from tax, subject to CRA rules. Set a rebalancing policy and define exit triggers before you buy bitcoin. Write it down, review it monthly, and stick to position limits through market swings.

Final Thoughts

Mining the 20 millionth coin underscores Bitcoin’s fixed 21 million cap and the slow drip of new supply for the next century. Today’s BTC price rebound toward US$69,000 aligns with that scarcity story, but near-term moves still hinge on flows, liquidity, and risk appetite. Technicals show neutral momentum with a solid trend backdrop and key levels around the Bollinger middle band. For Canadians, TSX spot ETFs offer CAD exposure and registered-account options, while direct ownership adds custody control with more responsibility. Before you buy bitcoin, compare costs, choose your custody setup, set position limits, and define a rebalancing plan. A steady process often beats perfect timing.

FAQs

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.