Bitcoin overtakes gold in U.S. ownership – Yet BTC hinges on THIS level

Bitcoin continued trading sideways as confidence slowly returned, even as market caution remained elevated.

Recent ownership data from the U.S. hinted at a deeper structural shift in demand. Buyers appeared active again, but the signal differed from previous cycles.

The question now centered on what the data truly revealed.

The market did not behave like a dead cycle.

Each dip drew renewed interest, and every rebound triggered strong reactions. That dynamic reflected a tense standoff between rising demand and lingering fear.

Ownership shift toward Bitcoin

On the 7th of March, an analysis shared by Bitcoin Teddy reported that over 50 million Americans owned Bitcoin, compared to roughly 37 million who owned gold.

The difference stood out. Gold had centuries of trust behind it, yet Bitcoin surpassed it in owner count.

Even so, ownership figures alone did not translate to total market value. Gold’s aggregate U.S. holdings still exceeded Bitcoin’s significantly.

However, the data hinted at something else. Retail investors appeared increasingly willing to treat Bitcoin as a reserve asset alongside traditional stores of value.

Coinbase Premium signals strong US Bitcoin demand

According to fresh data from CryptoQuant, Coinbase Premium showed that U.S. investors had stepped in aggressively and were buying Bitcoin [BTC].

Source: CryptoQuant

That premium mattered because it reflected spot demand from American buyers willing to pay more. In particular, it suggested real conviction, not empty noise.

Therefore, the market had started to feel that pressure again.

This was where the story sharpened. U.S. money did not return politely. It usually arrived with force, and Bitcoin often reacted fast when that happened.

However, demand alone never guaranteed safety. It only raised the stakes.

Can BTC hold $63,700?

According to Alphractal analyst Joao Wedson, Bitcoin needed to hold $63,700 to avoid a fresh downside move in the market.

Source: X

Below that level, the next risk zones stood at $57,000, $52,400, and $48,700. Those levels were dynamic and changed daily with blockchain behavior.

Therefore, they were not fixed targets, but they were serious warnings.

But did Bitcoin have the strength to hold above $65,000 right then? The answer looked like yes.

However, the incoming week starting on the 9th of March will decide whether that strength could survive through inflows.

If the week opened in green with massive inflows, Bitcoin would likely continue showing strength. However, if flows turned red and outflows returned, weakness would persist. The bulls only hoped that the latter outcome did not play out.

Final Summary

• Over 50 million Americans reportedly own Bitcoin, surpassing the roughly 37 million Americans who hold gold.
• Strong U.S. demand suggested growing confidence in Bitcoin despite ongoing market caution.