Bitcoin recently pushed into a key liquidity pocket near the $73,000 level, briefly tapping overhead liquidity before encountering a sharp reaction to the downside. With structure still holding and buyers stepping in on dips, attention is now shifting to whether this positioning phase could set the stage for a stronger push toward the $80,000 region. Upper Liquidity Sweep Before Sharp Rejection Near $74,000 According to the latest MMT Heatmap update from Columbus, Bitcoin experienced a significant surge into the upper liquidity pocket during the overnight session. The price climbed aggressively to the $73,000 mark, testing the strength of overhead supply. However, this momentum was met with a sharp corrective reaction as it approached a substantial liquidity cluster situated near $74,000. Related Reading: Bitcoin Liquidation Clusters Become Clearer, And Traders Are Leaning Long On BTC This specific price action is characterised by a market that is probing for liquidity without establishing immediate value acceptance. Here, there is a sweep, followed by investors building positions; a standard market mechanism where high-interest zones are cleared out before the market gathers the necessary structure to sustain a more permanent move higher. Currently, Bitcoin remains in a rotation phase as it attempts to solidify a reclaim above its previous channel resistance. This transition period is vital for converting old resistance into support, providing the technical foundation required for the next leg of the bull cycle. The broader outlook remains cautiously optimistic, provided that buyer demand is resilient and does not fade anytime soon. As long as bids continue to rebuild aggressively on every minor dip, the underlying market structure maintains its bullish bias. Bitcoin Tests Historic Weekly Support–Resistance Zone Bitcoin’s weekly chart shows that the price is currently negotiating one of its strongest support and resistance zones, a level that dates back to the week of March 11, 2024. Market action around such historically significant areas often determines the next major directional move, as both buyers and sellers tend to defend their positions aggressively. Related Reading: Bitcoin Price Reclaims Ground, Can Bulls Flip Market Momentum? Crypto analyst Christopher Inks notes that momentum indicators still leave plenty of room for further upside. Both the weekly RSI and the Stochastic RSI remain far from overheated territory, suggesting that Bitcoin could still extend its move higher and potentially push into the $80,000 region if bullish momentum continues to build. Christopher Inks has also emphasized throughout the year that a strong, impulsive weekly candle breaking and closing above the yearly pivot at $96,071.25 would be a major signal for the market. Such a move would confirm that the cycle low is already in place and could open the path for Bitcoin to advance toward a new all-time high. Featured image from Pixabay, chart from Tradingview.com
The price of Bitcoin put in another interesting performance over the past week, as the global uncertainty continued in the broader financial markets. However, the $74,000 resistance level proved to be unyielding yet again, as the premier cryptocurrency made a fresh play for it as the weekend approached. The investor sentiment in the Bitcoin market seems to be worsening with time, while the bullish momentum appears to be waning after the latest rejection. In fact, recent on-chain data shows that the sentiment is at a low not seen in nearly four years. BTC Fear & Greed Index Falls To 10% For First Time Since 2022 In a March 13 post on the X platform, crypto analyst Axel Adler Jr revealed that the Bitcoin Fear and Greed Index has continued its descent over the past few weeks. The Fear and Greed Index is an on-chain indicator that measures sentiment in the crypto market and reflects some aspect of investor behavior. Related Reading: Bitcoin Climbs Back To $73,000 As Short Squeeze Wipes Out $246M In Futures Bets Typically, the index ranges from 0 to 100 (often in percentage), with higher values often signaling extreme greed and overheating market conditions. Meanwhile, a lower value of the Bitcoin Fear & Greed Index suggests extreme fear and skepticism among investors. According to CryptoQuant’s data shared by Adler Jr, the 30-day average Fear and Greed Index has fallen to 10%, a level of pessimism seen during the market-wide crash brought about by the COVID-19 pandemic and the Terra (LUNA) ecosystem collapse. As observed in the chart below, the metric has been on a downturn since reaching a peak above the 75th percentile in late 2025. Adler Jr. wrote on X: Sentiment is now deeply compressed. For market structure to stabilize, Bitcoin likely needs to reclaim higher price levels. While an upturn in price performance might be critical in improving the market sentiment, the current level of the Fear and Greed Index might provide insight into Bitcoin’s near-term trajectory. From a historical perspective, the premier cryptocurrency has often shown the tendency to bounce back when the market sentiment is at its lowest. During the COVID-19 crash, the Bitcoin price rebounded from around $5,000 to a new all-time high after the Fear and Greed Index fell to around 10%. In 2022, though, the price of BTC did not reach a bottom until after the collapse of the FTX exchange (a few months after the index reached the 10% level). In essence, the Fear and Greed Index being this low could imply that the market leader has either reached or is near its bottom. Bitcoin Price At A Glance As of this writing, the price of BTC stands at around $71,262, reflecting an over 1% jump in the past 24 hours. Related Reading: Bitcoin Miners’ AI Shift May Create New Overhang, Lekker Capital CIO Warns Featured image from DALL-E, chart from TradingView
Strategy’s stock is trading below the value of its own Bitcoin holdings — an unusual position for a company that has built its entire identity around the cryptocurrency’s rise. Related Reading: Bitcoin Climbs Back To $73,000 As Short Squeeze Wipes Out $246M In Futures Bets A Streak That Keeps Going The Virginia-based firm added 17,994 BTC to its reserves last week, paying roughly $1.28 billion at an average of $70,946 per coin. It was the company’s 102nd Bitcoin purchase and the 11th straight week it has bought more. Strategy’s total Bitcoin stash is now valued at approximately $52.65 billion, yet its market capitalization sits closer to $47 billion. The gap tells a story investors are watching closely. Chairman Michael Saylor took to X on Thursday with a message that many read as a direct response to growing impatience. Don’t expect Bitcoin to surge immediately after a big corporate purchase, he said — the gains usually show up later. The post spread fast, pulling in a wave of reactions — some supportive, some skeptical, and a few that referenced older memes tied to Saylor’s years of Bitcoin advocacy. You know there’s a delay between the time we buy the Bitcoin and the time Bitcoin goes to the moon. — Michael Saylor (@saylor) March 12, 2026 Bitcoin was trading around $70,800 at the time of writing. That price leaves Strategy sitting on approximately $3.35 billion in unrealized losses across its holdings. Saylor Makes The Case For Holding The losses have not shaken Saylor’s public stance. In a recent Fox Business interview, he laid out a scenario where Strategy continues paying dividends as long as Bitcoin appreciates at least 1.25% annually. He also said that if prices stay flat for years, the company would have roughly eight decades to rework its capital structure — a timeframe most public companies would never cite as a comfort measure. His longer-term projection is more aggressive. Saylor has said he expects Bitcoin to grow around 30% per year over the next two decades. That outlook underpins the company’s decision to keep buying regardless of short-term price swings. Related Reading: Cardano’s DeFi Boom: TVL Spikes 23% In Less Than 2 Weeks Analyst Notes Strength In Market Activity Meanwhile, some cryptocurrency analysts flagged a recent uptick in the Coinbase Premium — a metric used to gauge spot demand among US-based buyers. Based on that view, if Bitcoin holds above $70,000, the next resistance level to watch is around $74,000-$75,000. That figure is close to the average price Strategy paid across all of its Bitcoin purchases. For the company and many traders tracking its moves, it carries weight beyond a simple technical level. Whether the price reaches it soon — or much later, as Saylor suggests — remains to be seen. Featured image from Gemini, chart from TradingView
Crypto pundit Crypto Bully has shared his base case for Bitcoin and what to expect before the flagship crypto rallies above $100,000. This comes as BTC continues to struggle to hold above the $70,000 resistance amid escalating tensions in the Middle East. Analyst Shares Base Case For Bitcoin In an X post, Crypto Bully stated that the path and exact levels of Bitcoin are not important in the long run, aside from immediate support and resistance levels. The analyst shared key points, including the observation that downside retests have not worked for a while. He pointed to the $85,000 level, which he noted is the logical lower high from the previous value generated before a further collapse due to extensive selling. Related Reading: The Bitcoin Game Plan That Shows How To Navigate BTC Below $100,000 However, the analyst suggested that the downtrend is not over, noting that bear market bottoms take months, not weeks. His accompanying chart showed that Bitcoin could still drop to $50,000. In the short term, he predicted that the flagship crypto could drop to $65,000. As for the bullish outlook for BTC, Crypto Bully stated that a break above the current level near $72,000 could easily spark a rally towards $85,000. He explained that a Bitcoin rally to $85,000 is possible, given the strength the flagship crypto has shown amid the ongoing geopolitical turmoil. The analyst added that the aggressive inflows into the BTC ETFs have not disappeared during this period. SoSoValue data shows that the Bitcoin ETFs recorded a net inflow of $767 million this week. Crypto Bull said the best DCA strategy is to buy Bitcoin whenever it drops from $65,000 down to $50,000. He revealed that his current spot buying average is around $67,000. BTC Is Not Yet At A Bottom A CryptoQuant analysis noted that the Bitcoin bottom is “not quite” in. The analysis revealed that, despite BTC’s resilience amid recent geopolitical tensions, on-chain data indicate the leading crypto is in a critical “stress test” phase. It added that the bottoming process could take a long while, with institutions being the primary investors in this cycle. Related Reading: Has Bitcoin Price Bottomed Yet? Analyst Says We’re Not There Yet The analysis also highlighted two paths to a Bottom for Bitcoin. The first path is a potential Black Swan that could trigger a crash, forcing liquidations and wiping out high-cost “new money.” CryptoQuant noted that this is the fastest route to a solid floor, which could form between one and two months. The second path is longer and involves a scenario in which Bitcoin trades sideways between $60,000 and $80,000 for a year, allowing new money to grow into long-term holder status. Under this path, the bear market could extend to late 2026 or early 2027. At the time of writing, the Bitcoin price is trading at around $71,000, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com
The past week recorded a significant change in the Bitcoin price action, where there was a momentum-driven rally to the upside of the charts. As of Tuesday, March 10, this move had boosted the flagship cryptocurrency tp reclaim its previous psychological $70,000 level. Interestingly, the Bitcoin price would go on to reach about $74,000 on Friday. While this might be good for Bitcoin, if at all in the short term, data from a recent on-chain evaluation has been published, leading to the suspicious conclusion that Bitcoin’s market participants are currently not as enthusiastic as they should be. Related Reading: Bitcoin Price From $70,000 To $110,000 In 2 Months? Analyst Reveals How Negative Funding Rates On Binance Reveal Increasing Short Positioning In an X post on March 13, pseudonymous on-chain analyst Darkfost reveals that there is a widespread wave of cautious pessimism in the Bitcoin market, despite the most recent bullish performance. As noted by the crypto expert, every rebound of the BTC price seen in March seems merely to be opportunities for short positioning, rather than clear recovery movements. For this reason, there has been a progressive display of negative funding rates on the Binance exchange for close to a week, as shown by the Bitcoin: Funding Rates – Binance metric. Darkfost points out that this is reflected in the extreme readings obtained on the Funding Rates metric, with funding rates slipping under -0.006 both on the 10th and 11th of March. According to the analyst, this significantly negative level indicates that most of the positions currently open on Binance are biased towards shorts, as high skepticism remains among investors on the tenability of Bitcoin’s recovery taking place in the near-term. Related Reading: Bitcoin Eyes Gold’s Crown As Institutional Money Quietly Shifts Extreme Bearish Sentiment Could Trigger Counterintuitive Bullish Move Interestingly, Darkfost references historical data to explain that the Bitcoin market could still see a sharp inflow of bullish momentum. This is because, when most traders open clusters of short positions, they open the market to an increasing possibility of a short squeeze. According to history, Darkfost explains that “when funding rates reach extreme levels or when a strong market consensus forms, it is often too late to position in that direction.” Hence, in the scenario where the Bitcoin price can sustain its recent upside movement, a short squeeze would likely occur. As a result, all of the sell-side liquidity currently sitting above Bitcoin’s market price would become converted to fuel for the upside move, and this in turn could cause the liquidation of even more short positions, further reinforcing the bullish move. Barring a definite move occurring, market participants are therefore advised to retain a more cautious stance in their dealings. As of press time, the Bitcoin price trades at $70,852 following a 1.09% loss over the past 24-hours. Featured image from Unsplash, chart from Tradingview.com
A single historical parallel is driving one analyst’s bold call on XRP — and it hinges on a rally that hasn’t happened yet. Related Reading: Ghana’s Crypto Push Begins As 11 Companies Enter SEC Sandbox Channel Pattern Tracks 9 Months Of Price Action Chartist Celal Kucuker has mapped out a descending channel that has guided XRP’s price movements since the token hit a record high of $3.6 in July 2025. The channel has two boundaries: a lower trendline that dates back even further — to when XRP pulled back from $3.4 in January 2025 — and an upper trendline that formed after the July peak. Together, they’ve boxed in the token’s price for the better part of nine months. Two of Kucuker’s projected targets within that channel have already been hit. XRP climbed to $2.4 in January 2026, touching the upper trendline, then reversed and fell to $1.1 in early February, landing near the lower boundary. Both moves played out largely as the analyst had outlined. XRP is now trading around $1.41, down 24% since the start of the year. Ripple XRP 2.40$ ☑️ 1.10$ ☑️ 1.80$ ⌛️ 0.90$ ⌛️ 8.60$ ⌛️ September – December pic.twitter.com/dFilurLCVC — Celal Kucuker (@CelalKucuker) March 13, 2026 Two More Moves Before A Potential Breakout According to Kucuker’s roadmap, the price action isn’t done yet. He expects XRP to bounce toward $1.8 — a retest of the upper trendline — before pulling back again to around $0.9, which would mark another touch of the lower boundary and potentially push the token below the $1 mark. Only after that final retest, in his view, does the setup for a breakout emerge. When that breakout comes, Kucuker puts the upside target at $8.6. He projects that move to unfold between September and December 2026. From the estimated breakout price, that would represent a gain of 330%. That percentage isn’t arbitrary. It mirrors what XRP did the last time it broke out of a similar structure. After clearing a comparable descending channel in November 2024, the token climbed 330% to reach $3.4 by January 2025. The current projection applies that same multiplier to the new setup. Broader Market Adds To Uncertainty The crypto market hasn’t made things easy. Reports indicate the global crypto market cap has dropped 18% since January, falling to roughly $2.4 trillion. XRP’s losses have outpaced that decline. Related Reading: Bitcoin Climbs Back To $73,000 As Short Squeeze Wipes Out $246M In Futures Bets None of that, on its own, derails a technical forecast built on chart patterns rather than macro conditions. But the scale of the projected move — from a potential low near $0.9 to a target of $8.6 — would require sustained buying pressure over several months, with few major disruptions along the way. Kucuker has not specified a timeline for the near-term moves to $1.8 and $0.9. Those steps are treated as preconditions, not endpoints. The $8.6 figure only comes into play after the channel is broken to the upside. As of March 14, XRP continues to trade well within the channel’s boundaries, with the next key level — the $1.8 upper trendline retest — still ahead. Featured image from Shutterstock, chart from TradingView
The Bitcoin price might look calm on the surface, but beneath that quiet chart is a familiar cocktail of fear, speculation, and historical pattern-chasing. And right now, the ingredients look oddly familiar. Fresh on-chain data shows the percentage of coins sitting on exchanges has fallen to its lowest level since November 2017. That’s a long …
On-chain analytics firm Glassnode has highlighted how Bitcoin has only seen a relatively thin accumulation band form during the recent consolidation range. Bitcoin STH CBD Shows Accumulation Remains Thin In a new post on X, Glassnode has talked about the latest trend in the Bitcoin Cost Basis Distribution (CBD) of the short-term holders. The CBD here refers to an indicator that tells us about the amount of supply that was purchased at the various price levels visited by BTC in its history. Related Reading: Bitcoin Returns Mirror Late-2022 Levels Seen Before 67% Rally: Santiment The CBD of the short-term holders (STHs) specifically tracks this for the supply that was purchased within the past 155 days. The short time frame means that supply clusters on the indicator always thin out over time, whether by coins from them being moved at other price levels (thus regaining their cost basis there) or by maturing into the long-term holder (LTH) cohort, beyond the 155-day cutoff. Now, here is the chart shared by Glassnode that shows how the Bitcoin STH CBD has changed over the past year: As displayed in the above graph, the Bitcoin STH CBD gained a large supply cluster at the price lows seen back in November, indicating that a notable amount of fresh accumulation took place in response to the market crash. This dense supply zone then acted as a support cushion for the asset, helping stabilize it into a phase of consolidation. Eventually, though, the cryptocurrency’s bearish momentum returned and its price plummeted deep under the cluster. This implies that all tokens part of it have gone underwater. Besides the strong supply zone at the range’s lower end, the consolidation phase from November-January also resulted in some higher levels being filled out with supply. This accumulation wasn’t quite as strong as at the lows, but it still nonetheless showed that coins were actively changing hands. Recently, Bitcoin has stabilized into another phase of sideways movement, but from the chart, it’s apparent that this time there has neither been a strong dip buying response, nor a buildup of a significant supply cluster as the consolidation has gone on. That said, buying hasn’t been completely absent, with some supply starting to find cost basis inside the zone. “An accumulation cluster is forming in the $62k–$72k range,” noted Glassnode. “However, its intensity is modest relative to prior phases that preceded sustained expansions.” Related Reading: Bitcoin Recovery Requires STH Profitability Above 50%: Glassnode It now remains to be seen how the supply range will develop in the near future. For now, the foundation provided by it remains thin for a mid-term breakout, according to the analytics firm. BTC Price At the time of writing, Bitcoin is trading around $71,100, up nearly 5% over the past week. Featured image from Dall-E, chart from TradingView.com
Bitcoin (BTC) made a notable recovery on Friday, witnessing a 4% surge that led the leading cryptocurrency to retest the critical $74,000 resistance level, which has remained unbroken for the past month. However, even with this upward movement, the cryptocurrency has retraced to approximately $72,215, establishing itself at the upper boundary of its ongoing consolidation range. Further Declines For Bitcoin Ahead? Analyst Sunny Mom from CryptoQuant emphasizes that, despite these recoveries, Bitcoin has yet to establish a definitive bottom. She suggests that further price declines may be ahead, as current on-chain data reveals that the market is in a significant “stress test” phase. Diving into the data, Sunny identifies several key factors that indicate the challenges ahead for Bitcoin. First, she points to the 6-12 month cohort of investors, who are currently underwater due to their Realized Price (RP) being concentrated around $100,000. This means that many of these mid-term holders are seeing losses, which could continue to exert downward pressure on prices until this imbalance resolves. Related Reading: Hyperliquid (HYPE) Under The Lens: These 3 Metrics Point To Severe Undervaluation Sunny also highlights the MVRV (Market Value to Realized Value) ratio, which stands at 1.2. This figure is commonly regarded as a “DCA (Dollar-Cost Average) zone” for “smart money.” However, substantial cyclical bottoms typically require the MVRV to be less than 1.0, indicating a state of capitulation. Furthermore, the importance of long-term holders (LTHs) cannot be overstated. A sustainable price floor generally requires that LTHs—those who have held their positions for over two years—constitute more than 20% of the Realized Cap. Currently, they make up only about 15%, suggesting that the market lacks the robust structural support needed for a strong recovery. She outlines two potential paths for how Bitcoin could find its bottom. Two Potential Paths To Find A True Bottom The first involves a “Black Swan” event—a sudden crash that triggers forced liquidations among high-cost investors. Although painful, Sunny believes this scenario could lead to a faster establishment of a solid Bitcoin price floor, potentially within one to two months. The second path, referred to as “The Great Boring,” envisions institutions maintaining their positions, allowing Bitcoin to trade in the $60,000 to $80,000 range for an extended period. Related Reading: Bitcoin Historically Surges 54% On Average Post-US Midterm Elections, Binance The analyst asserts that this would enable new investments to mature into long-term holdings, setting the stage for a bottoming process that could extend into late 2026 or early 2027. While the market may be at a “Value Bottom” conducive to long-term dollar-cost averaging, Sunny’s analysis suggests that a true “Structural Bottom” for Bitcoin has yet to form. Consequently, she noted that volatility within the $60,000 to $70,000 range is anticipated. Featured image from OpenArt, chart from TradingView.com
More than $246 million in crypto futures positions were wiped out in a single day as Bitcoin reversed sharply on Thursday, punishing traders who had bet against the market. The leading cryptocurrency climbed back to around $73,300 — a gain of roughly 4.5% over 24 hours — after a stretch of selling had dragged prices into the high $60,000 range. Related Reading: Cardano’s DeFi Boom: TVL Spikes 23% In Less Than 2 Weeks The move carried the hallmarks of a short squeeze. Funding rates had gone deeply negative in the days before the reversal, a sign that bearish bets had piled up on exchanges. When prices turned higher, those positions were forced to close. Volume surged, and the rally fed on itself. Buyers Step In Ahead Of Major Resistance Bitcoin had been trading near $71,500 before buyers moved in. Reports from trading data firm TradingView placed the price at approximately $72,900 at publication time. The recovery came against a backdrop of broader risk appetite returning to financial markets, with the S&P 500 posting gains and the US dollar softening — conditions that have historically drawn money into alternative assets like Bitcoin. Institutional demand played a role too. Inflows into spot Bitcoin exchange-traded funds helped put a floor under prices during earlier sell-offs this year, keeping losses shallower than they might otherwise have been. That dynamic marks a notable shift from past cycles, when Bitcoin often fell in lockstep with equities during periods of stress. Geopolitical tensions in the Middle East added a layer of uncertainty throughout the week, but Bitcoin held its ground, a fact traders pointed to as evidence of broader market acceptance of the asset. Open Interest Stays Elevated At $48B The derivatives market remains stretched. Open interest across major exchanges sat near $48 billion, according to data aggregated by Coinglass, with CME Bitcoin futures alone accounting for roughly $7.9 billion — or around 110,000 BTC. Positioning had shifted toward call options heading into the move, suggesting some traders had already anticipated a push higher. That level of open interest cuts both ways. It reflects strong participation and genuine conviction from both retail and institutional traders. Related Reading: Ghana’s Crypto Push Begins As 11 Companies Enter SEC Sandbox But it also means the market stays vulnerable to sharp swings if headlines change fast. A single piece of macro news — a Federal Reserve signal, an escalation overseas, a policy shift — could flip the mood quickly. Bitcoin has shed its old reputation as a pure risk-on trade, at least partly. Advocates increasingly frame it as a store of value in environments where governments spend freely and currencies weaken. Whether that framing holds under pressure remains an open question, but Thursday’s recovery did little to discourage those who believe it. Featured image from Pexels, chart from TradingView
Lekker Capital CIO Quinn Thompson argues on X that collapsing mining economics, combined with a growing shift by public miners toward AI and high-performance compute, could turn corporate BTC treasuries into a fresh source of market supply. “A large underappreciated headwind for Bitcoin is the disaster that which is mining economics. The only way this heals is through a decline in hashrate, which is being spearheaded by the AI compute first movers like CORZ, WULF, CIFR, IREN, etc.,” Thompson wrote. The chart Thompson shared, frames the problem visually. It shows aggregate bitcoin holdings across major listed miners climbing sharply through 2024 and 2025 before rolling over in 2026. Thompson’s argument is not that the AI pivot is bearish in structural terms. Related Reading: Bitcoin Bull Score Surges To 30, Exits ‘Extra Bearish’ Zone On the contrary, lower hashrate and less uneconomic competition could improve mining industry health over time. His point is that the transition itself is expensive, and that capex-heavy AI buildouts may force miners to liquidate BTC that had previously been treated as strategic treasury. “While helpful to long-term health and sustainability of the network economics, it presents a dilemma for prices in the near-term as Bitcoin miners hold almost 80,000 Bitcoin on their balance sheets. As these companies pivot away from BTC mining, they 1) need capital to fund the AI buildout capex requirements and 2) have no reason to hold any BTC on their balance sheet (not that they should have before either),” he argued. Bitcoin Miners Pivot To AI The 2025 filings and public data make that argument more concrete. Core Scientific’s fourth-quarter results showed the business mix tilting away from mining and toward AI-related infrastructure: self-mining revenue fell to $42.2 million from $79.9 million a year earlier, while colocation revenue rose to $31.3 million from $8.5 million. Management said the decline in hosted mining reflected the “continued strategic shift” to high-density colocation. For full-year 2025, Core generated $402.5 million of proceeds from selling digital assets and ended the year with 2,537 BTC on its balance sheet. TeraWulf offers an even cleaner read-through. The company said that in 2025 it “solidified HPC hosting as its primary growth engine,” signed more than $12.8 billion in long-term customer contracts, and built a platform with 522 critical IT megawatts under contract. Yet the legacy mining business was still being monetized as that buildout took shape: fourth-quarter digital asset revenue was $26.1 million, versus $9.7 million in HPC lease revenue, and the company’s year-end digital asset rollforward shows 1,496 BTC mined, 1,500 BTC disposed of, and only 3 BTC left on the balance sheet at Dec. 31, 2025. Related Reading: Bitcoin May Still Fall Under $10,000, Bloomberg’s McGlone Warns Cipher and IREN show two other versions of the same trend. Cipher said it increased its focus on HPC in 2025 and signed two HPC tenants for a combined 600 MW of data center capacity. It also sold bitcoin for approximately $214.7 million during the year. By year-end, Cipher had classified $94.9 million of Black Pearl mining rigs as held for sale after signing a sublease to transition the site to an HPC tenant. IREN, by contrast, has already taken the treasury issue largely off the table: with roughly 99,900 GPUs installed or on order as of Dec. 31, 2025, it said it “typically liquidate[s] all the Bitcoin we mine daily” and therefore held no bitcoin on its balance sheet at year-end. MARA matters for a different reason. It is not yet as far along as Core, TeraWulf, Cipher or IREN in converting mining sites into a full AI/HPC business, though it had deployed its first ten AI racks at Granbury by November 2025 and later announced a Starwood partnership for AI and HPC infrastructure. But MARA is the treasury heavyweight in the group, and its own 2025 disclosures moved in Thompson’s direction: the company said it began selling bitcoin in the second half of 2025, sold about 4,076 BTC for $413.1 million during the year, and still ended 2025 with roughly 53,822 BTC. That is the tension in Thompson’s thesis. A miner-led shift into AI can reduce hashrate pressure and improve the long-run economics of bitcoin mining. But the bridge from mining to AI is capital-intensive, and the 2025 filings show that bridge is already being funded with BTC sales, miner disposals and site conversions. For bitcoin, that means an industry adjustment that may be constructive later can still look like overhang now. At press time, Bitcoin traded at $72,322. Featured image created with DALL.E, chart from TradingView.com
On-chain analytics firm Glassnode has explained how a flip in Bitcoin short-term holder profitability could act as a precondition for a sustained price recovery. Bitcoin STH Supply In Profit Is Currently Under 50% In a new post on X, Glassnode has talked about the latest trend in the Supply in Profit metric for the Bitcoin short-term holders (STHs). The Supply in Profit measures, as its name suggests, the percentage of the BTC supply that’s currently being held at some net unrealized gain. Related Reading: Bitcoin Returns Mirror Late-2022 Levels Seen Before 67% Rally: Santiment In the context of the current topic, only the above-water supply held by the BTC STHs is of relevance. This cohort includes all addresses that purchased their tokens within the past 155 days. The STHs make up one of the two main divisions of the market, based on holding time, with the other side being known as the long-term holders (LTHs). Statistically, the longer an investor holds onto their coins, the less likely they are to sell them in the future. As such, the STHs with their relatively low holding time are considered to represent the weak-minded side of the market, while the LTHs include the diamond hands. As the chart below for the Supply in Profit of the STHs shows, the new entrants to the market were enjoying a high degree of profitability before Bitcoin experienced a bearish shift in Q4 2025: The price decline has caused the indicator’s value to plummet, meaning a chunk of the tokens held by the Bitcoin STHs have gone underwater. From the graph, it’s apparent that the indicator dropped below the 50% mark a while ago and has continued to be in this low profitability zone since. In the past, this cohort being under stress has generally meant a lack of demand in the market. “Demand-side risk appetite tends to remain suppressed until this flips back above 50%,” noted Glassnode. In the chart, a few examples of the STH Supply in Profit flipping back above 50% are visible, with the latest one being the price rebound from the first half of 2025. Back then, a return of profits for the cohort led to a Bitcoin rally that set new price all-time highs (ATHs). Related Reading: Bitcoin Bull Score Surges To 30, Exits ‘Extra Bearish’ Zone Given this trend, it’s possible that a flip in the metric above the 50% level could once again be of significance for the cryptocurrency. “Watch this level as a precondition for any sustained recovery,” explained the analytics firm. BTC Price Bitcoin has been making a fresh attempt at the $72,000 level following its surge of 3% over the last 24 hours. Featured image from Dall-E, chart from TradingView.com
The institutional access to Ethereum continues to expand as traditional finance deepens its involvement in digital asset markets. A new development drawing attention is the launch of BlackRock’s ETHB, which introduces another potential channel for capital to flow into the ETH ecosystem. This product provides investors with regulated exposure to ETH through familiar market infrastructure. BlackRock has opened a new potential inflow channel for Ethereum with the launch of its staked ETH Trust, ETHB, which has begun trading. Analyst Milk Road has revealed on X that this ETHB is not just another ETH ETF, but one that actually pays investors while holding it. The development follows the rapid growth of BlackRock’s earlier crypto funds. The firm’s IBIT Bitcoin ETF has grown to roughly $55 billion in assets, while its first ETH ETF product, iShares Ethereum Trust (ETHA), reached about $6.5 billion in assets shortly after launch. Both funds are ranked among the fastest-growing ETF launches in history, and ETHB is attempting to achieve what neither product couldn’t by combining ETH price exposure with staking rewards, which is the closest thing crypto has to a dividend. How The New Product Provides Exposure To Ethereum Staking For many investors, direct staking can be complicated, and participating typically requires 32 ETH, a technical setup, and acceptance of certain lock-up risks. ETHB aims to simplify that process by packaging staking within a regulated investment product that can be purchased through a standard brokerage account. The fund also introduces a relatively low management fee set at 0.12% on the first $2.5 billion in assets. Related Reading: Ethereum Staking Reaches Historic Levels, Price Hovers Near $2K Milk Road explains that if this move is successful, ETH could increasingly be treated as a yield-generating digital asset within a 401(k). Retirement accounts and pension funds can now gain access to staking rewards without directly interacting with wallets. For many, ETH is a technology bet and a narrative that takes a real hit, but it is now an income-generating digital asset. Thus, the first wave of spot ETH ETFs launched without staking functionality was rejected by the regulators. Now, they’ve accepted it because the US Securities and Exchange Commission (SEC) effectively says that staking rewards are not securities, at least when wrapped inside a BlockRock product. Related Reading: Ethereum Breakout Alert: Corrective Channel Flip Sparks Impulsive Wave With BlackRock already managing tens of billions of dollars in BTC and ETH, ETHB presents a third channel for investor flow. Milk Road believes that if the product follows the same trajectory, it could become a significant new driver of institutional demand for ETH. Ethereum Sees Another Wave Of Aggressive Long Position Accumulation An analyst known as CW highlighted that Ethereum has continued to experience strong net buying pressure in long positions, following a surge that first appeared the previous day. The buying pattern closely mirrors the wave that occurred earlier, where large-scale purchases were executed within a short timeframe. Currently, the market appears to be taking a brief pause after the surge in long positions. Featured image from Freepik, chart from Tradingview.com
A crypto analyst is calling for a $40,000 Bitcoin price surge within 60 days, and the macro environment may be building the case for exactly that. Bitcoin is still pushing around $70,000, and many traders are watching closely after weeks of volatility across global markets. Bitcoin Will Have Its Turn Very Soon One market participant known as ₿ariksis suggested that the Bitcoin price could surge from $70,000 to $110,000 within the next 60 days if the current macro and technical conditions are set up well. Related Reading: Has Bitcoin Price Bottomed Yet? Analyst Says We’re Not There Yet The prediction from ₿ariksis is built on rotation across major assets. Gold, silver, and oil have delivered strong upward moves in recent weeks. Gold, silver, and oil have already recorded strong moves in recent weeks. Both gold and silver have been pushing to new all-time highs in recent months, but Bitcoin has lagged behind. Geopolitical tensions between the United States and Iran have pushed crude oil prices above $100 per barrel, which is another type of rapid rally that can unfold across markets. Bitcoin is already known for how fast things can change, and this serves as a reminder that the leading cryptocurrency could be next in line for a fast repricing. A move from $70,000 to $110,000 in 60 days would require a gain of about 57%. This is obviously volatile, but not outside Bitcoin’s historical character once momentum and liquidity line up. Bitcoin Is Already Winning The Battle Of Relative Strength The case for Bitcoin’s resilience was sharpened further by BitMEX co-founder Arthur Hayes, who shared a normalized comparative chart tracking Bitcoin, gold, and the Nasdaq 100 from February 28. Related Reading: This Analyst Correctly Predicted Bitcoin’s Recovery Will End Badly, But What’s Next? According to the chart shared by Hayes, Bitcoin has outperformed gold and the Nasdaq 100 since the US-Iran war started on February 28. Bitcoin’s line pushes above both gold and the Nasdaq over the period in the normalized performance chart, even as the oil and gas price spikes created the kind of macro conditions that usually punish risk assets. Bitcoin gained approximately 7% over the measured period, while gold declined roughly 2% and the Nasdaq 100 edged down 0.5%. “Relative to similar type large risky assets, $BTC did the best when viewed against oil and gas energy price spikes,” Hayes noted. There is also a second layer to this story: institutional conviction has not disappeared during the turbulence. For instance, Strategy recently disclosed that it acquired another 17,994 BTC for about $1.28 billion, bringing its total holdings to 738,731 BTC. The technical side of the bullish case shows Bitcoin’s price action is now touching a rising diagonal support that connects major cycle bottoms from 2018, 2020, 2022, and now 2026. The newest touch is marked near the mid-$60,000 area, almost exactly where Bitcoin has been trying to stabilize. Each prior interaction with that trendline came near important cycle lows, and each was followed by a major recovery phase. According to a crypto analyst that goes by the name Vivek San, Bitcoin rallied 450% the last time this setup appeared. The projection by the analyst points to a return above $100,000, then sketches a possible extension above $240,000 into 2027. Featured image from Getty Images, chart from Tradingview.com
As Bitcoin (BTC) seeks to solidify its position around $71,000, the cryptocurrency faces a challenge from the $74,000 resistance level that has so far prevented a decisive breakout. However, recent insights from Bloomberg indicate that a collection of indicators, historically associated with the conclusion of downward trends, suggest the current sell-off may be reaching its final phase. Bitcoin Recovery In Sight? Brett Munster of Blockforce Capital said that one of these indicators has already entered a range that has frequently preceded past lows. Meanwhile, two others are indicating figures between $54,000 and $58,000, which is lower than the current price range of between $65,000 and $73,000 that was set during the month. Although a definitive price floor is not guaranteed, Munster asserts that “the majority of the drawdown appears to be behind us,” suggesting that a market turnaround could potentially materialize by mid-year. Related Reading: Bitcoin Historically Surges 54% On Average Post-US Midterm Elections, Binance One of the critical indicators currently highlighting Bitcoin’s potential for recovery is the MVRV Z-Score. This measure signals when Bitcoin is trading above or below its on-chain cost basis. When this score dips below 0.4, it typically indicates that the cryptocurrency is undervalued. Presently, the score is around 0.38, indicating that Bitcoin may indeed be undervalued, although other metrics have not yet confirmed this trend. Potential Upside Emerges The realized price of Bitcoin—the average price at which it has last moved on-chain—currently hovers near $54,000, while the 200-week moving average (MA), which has historically marked important support levels, is positioned around $58,000. Related Reading: Hyperliquid (HYPE) Under The Lens: These 3 Metrics Point To Severe Undervaluation Moreover, the pattern of diminishing peak-to-trough drawdowns suggests a potential bottom could lie between $45,000 and $55,000. Collectively, these indicators define what Munster terms “a high-probability accumulation zone” ranging from approximately $45,000 to $60,000. Although pinpointing an exact market bottom is inherently uncertain and bear markets can last longer than anticipated, Munster believes that Bitcoin presently offers a more favorable risk-reward profile with greater upside potential. Featured image from OpenArt, chart from TradingView.com
Bitcoin and crypto exchanges built much of the cryptocurrency industry’s reputation by challenging traditional finance. However, as major Wall Street institutions deepen their involvement in crypto services, the structure of the market could begin to change in ways that place pressure on both exchanges and the broader ecosystem surrounding Bitcoin. Why Bitcoin And Crypto Exchanges Could Face Pressure Recent industry commentary highlights how large financial institutions are gradually positioning themselves to compete directly with crypto exchanges. Among them, Morgan Stanley has been expanding its digital asset capabilities, moving beyond simple exposure products toward services such as crypto trading, custody, and staking. The development signals a broader shift in which traditional finance is no longer observing the crypto sector from the sidelines. Related Reading: Here’s How Much Needs To Flow Through Ripple For XRP Price To Reach $3,700 One key factor behind this shift is infrastructure. In the early years of the industry, building a crypto trading platform required specialized blockchain engineering, complex wallet systems, and custom liquidity networks. That barrier created a protective moat for early exchanges such as Coinbase, Binance, and Kraken. Today, however, specialized infrastructure providers, including Fireblocks, Copper, Talos, and Zero Hash, allow financial institutions to integrate crypto trading systems far more quickly. With these tools, banks can launch digital asset services in just months. Distribution power further strengthens this advantage. If crypto trading becomes integrated into existing brokerage dashboards alongside equities and bonds, clients may access digital assets without leaving their primary investment accounts. In that scenario, exchanges would no longer be the default destination for crypto trading. Capital efficiency is another area where traditional institutions excel. Unlike exchanges, which operate as isolated platforms for digital assets, banks can offer multi-asset trading environments where stocks, bonds, foreign exchange, derivatives, and cryptocurrencies exist within the same account. This structure allows investors to move collateral across markets and execute complex strategies without transferring funds between separate platforms. Crypto Exchanges Face A Strategic Crossroads Another pressure point lies in pricing. Many crypto exchanges rely heavily on transaction fees as their primary revenue stream. Large financial institutions, by contrast, operate diversified business models that include lending, asset management, advisory services, custody, and prime brokerage. Because of these multiple revenue channels, banks could reduce trading costs significantly, potentially compressing the fee structures that exchanges depend on. Related Reading: Dogecoin Descending Channel Shows Where It Is In This Cycle Institutional trust also plays a role in shaping where large investors choose to trade. Established financial firms like Morgan Stanley have decades of regulatory infrastructure and longstanding client relationships. For institutions already managing capital through those firms, conducting crypto transactions within the same framework may appear more straightforward than onboarding to an entirely separate exchange. Analysts note that liquidity often follows institutional capital. Morgan Stanley’s $9 trillion asset base alone dwarfs the assets held on many crypto trading platforms. If even a fraction of that capital begins flowing through bank-operated crypto desks, trading activity could gradually shift away from traditional exchanges. For the crypto sector, this shift is prompting a strategic reassessment, as competition could increasingly favor traditional financial institutions entering digital asset markets. Featured image created with Dall.E, chart from Tradingview.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin is pushing higher after clearing a resistance level, but one analyst is pumping the brakes before calling it a confirmed rally. The analyst’s core position has not shifted in weeks. Bitcoin is currently in a counter-trend bounce, meaning it is moving against the dominant direction of the market rather than with it. Counter-trend moves …
Crypto analyst Osemka has suggested that DOGE is at a make-or-break level, where it could see a parabolic move to the upside or suffer a huge decline. The analyst alluded to the Dogecoin EMA, which could determine the next move for the foremost meme coin. Dogecoin EMA Set To Determine Next Move For The Meme Coin In an X post, Osemka said that something will soon have to give, alluding to the Dogecoin EMA. The analyst noted that DOGE has been getting slammed by the EMA for the past three weeks, that there will soon be no room left to run, and that a decision will be made. The accompanying chart showed that the DOGE price could still drop to a new low of around $0.084. However, there is also the possibility that the meme coin could finally break above this EMA. Related Reading: A Bullish Pennant Just Appeared On The Dogecoin Monthly Chart, Here’s What To Expect This comes as Dogecoin continues to struggle to break the psychological $0.10 level. Notably, this EMA is now sitting just below this psychological level, which is likely to provide further resistance for the foremost meme coin. The U.S.-Iran war also continues to pressure DOGE and other crypto prices, which could lead to a larger decline. Crypto analyst TraderSZ suggested that Dogecoin’s next move will heavily depend on Bitcoin’s price action. He stated that DOGE could pull off a move similar to the one seen last year, when the meme coin rose to around $0.3. Crypto analyst BitGuru also provided a bullish outlook on DOGE, hinting at a recovery for the meme coin. In an X post, the analyst said that Dogecoin looks done with the downtrend after a liquidity sweep and long consolidation. If support holds at the current level, the analyst predicts an upside towards $0.13 and $0.15. He added that this is where smart money usually starts positioning. DOGE Eyeing A Run To $1.80 Crypto analyst Javon Marks predicted that Dogecoin could rally to $1.80 in the next bull run. This came as he noted that over the cycles, DOGE has shown a clear and consistent trend with prices breaking out. He added that the meme coin stagnates for a while and then delivers a huge bull run. Related Reading: Dogecoin Remains Inside Falling Channel, Bulls Target Surge Above $0.1 Marks stated that, as part of this trend, Dogecoin’s next stage appears to involve a huge run. The targets for the meme coin on this parabolic run include $0.739, $1.25, and a potential rally over $1.80. A rally to these levels would mark new all-time highs for DOGE. This rally is expected to happen between now and 2027. At the time of writing, the Dogecoin price is trading at around $0.09639, up over 4% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com
Wall Street’s biggest gold fund saw something unusual recently — a single-day outflow of $3 billion from SPDR Gold Shares, a number that dwarfed any comparable daily exit over the prior two years by more than 200%. The $3 billion single-day outflow from SPDR Gold Shares — a US gold-backed ETF trading under the ticker GLD — was flagged by the Kobeissi Letter as exceeding any comparable daily exit over the prior two years by more than 200%. Related Reading: Ghana’s Crypto Push Begins As 11 Companies Enter SEC Sandbox On the same side of the ledger, Bitcoin exchange-traded funds recorded over $900 million in net inflows over the 30 days ending March 11, swinging from close to $2 billion outflow the month before. BREAKING: The largest US gold-backed ETF, $GLD, posted a record -$3.0 billion outflow on Wednesday. This surpasses any previous large daily outflow seen over the last 2 years by +200%. At the same time, silver ETFs recorded small outflows, while Bitcoin ETFs saw modest inflows.… pic.twitter.com/XF8y99cPSV — The Kobeissi Letter (@KobeissiLetter) March 6, 2026 A Ratio To Watch The Bitcoin-to-gold ratio has pulled back to a support zone near 12-13 — a level that blocked further gains in 2017, then flipped to support in 2022 and 2023. Analysts say that history gives the current price level added weight. Michaël van de Poppe, founder of MN Capital, points to a bullish divergence forming between the ratio and the relative strength index on the daily chart. In plain terms, that means selling pressure appears to be fading even as prices have stayed under stress. Whether that signal holds is another matter, but it has drawn attention from traders tracking Bitcoin’s long-term standing against gold. #Bitcoin vs. Gold is currently breaking upwards after a confirmation of the bullish divergence. This should indicate that we’re about to see significantly more strength in Bitcoin. pic.twitter.com/vwIpwJ82qz — Michaël van de Poppe (@CryptoMichNL) March 11, 2026 The shift in ETF holdings reinforces the picture. Bitcoin ETF balances improved by roughly 12,900 BTC in the last monthly timeframe, while gold ETF holdings fell by nearly 800,000 ounces during a similar window. Capital appears to be moving, even if slowly. Institutions Are Coming, Just Not Yet In Full Binance Research flagged the current stretch of market volatility as what it called an “opportunity within risk” for Bitcoin. Bitcoin has traded in step with oil and US equities recently, moving alongside broader macro assets as the US-Israel and Iran conflict has kept global markets on edge. Despite that turbulence, institutional interest has not dried up. US spot ETFs now account for roughly 9% of total Bitcoin trading volume. That sounds modest — and it is. In US equity markets, ETFs account for 30-40% of total trading volume. The gap tells its own story about how much room remains for institutional participation to grow. Related Reading: Bitcoin Crosses 20 Million Coins Mined — And Only 1 In 20 Remains History Offers A Cautionary But Compelling Pattern Midterm election years have not been kind to risk assets. The S&P 500 has averaged a peak-to-trough drop of 16% during those cycles. Bitcoin’s drawdowns have been steeper, averaging around 56%. But the 12 months after midterm elections have, without exception since 1939, produced positive returns for the S&P 500, averaging 19% gains. Bitcoin, with only three post-midterm years on record, has averaged 54% gains across all three. Reports from Binance Research also identified $78,000 as the level Bitcoin would need to reclaim to signal a broader trend reversal. BTC was trading around $71,500 at the time of publication. The distance between the two numbers is not enormous, but in a market moving this quickly, it is not small either. Featured image from Incrementum, chart from TradingView
Crypto is having one of its best days in weeks. Bitcoin has pushed above $73,000, Ethereum has cleared $2,180, and the total crypto market has added $90 billion in value in the past 15 hours alone. Here is what is actually driving it. The Numbers First Bitcoin: Up 4.80% to $72,867, adding $60 billion to …
Bitcoin has outperformed gold, silver, and major US equity indexes since the US-Israeli attack on Iran began, recovering to over $72,000 even as oil surged above $100 a barrel and traders cut expectations for near-term Federal Reserve easing. According to CryptoSlate data, Bitcoin is up 7.3% since the conflict began and even rallied to a […]
The post With Bitcoin’s surge over $72k it now outperforms gold and stocks since Iran strikes, but one brutal sell wall is looming appeared first on CryptoSlate.
Hashrate Index found that about 90% of global Bitcoin hashrate operates in electricity markets largely insulated from oil prices.
Capriole Investments founder Charles Edwards says Bitcoin has moved into a historically attractive accumulation area, but not yet the kind of deep-discount zone that defined the best buying opportunities of prior cycles. In his view, the setup is constructive for long-term holders, though still lacking the confirmation needed to call a durable bottom. Speaking with Crypto Consulting Institute’s Joe Shew, Edwards framed Bitcoin as “closer to the bottom than the top,” with multiple on-chain metrics pointing to value even as price action remains damaged. He stopped short, however, of calling the current range a standout opportunity. “Bitcoin I think you could summarize in a few words as it’s close to the bottom than the top,” Edwards said. “Broadly trending within a value range historically in terms of onchain data and metrics. That said, it’s not at the deep value range that would be really exciting for me that we’ve seen in prior cycles.” That distinction matters. Edwards said Capriole still holds a small net long Bitcoin position, but the levels that would make him “super excited” sit lower, around the production-cost band between roughly $50,000 and $60,000, with the low-to-mid $50,000s standing out as particularly attractive. Historically, he said, Bitcoin has spent months in that zone during major cycle lows. Related Reading: Bitcoin Bull Score Surges To 30, Exits ‘Extra Bearish’ Zone For investors with a multi-year horizon, Edwards argued that some exposure still makes sense. But he cautioned that value alone is not enough. “As with any asset, equities, anything, you can be in a value zone for a long time,” he said. What is missing, in his telling, is a convincing signal of renewed strength through either a deeper capitulation, a technical breakout, or more durable evidence of demand. Bitcoin Institutional Flows Improving, But Not Decisive One of the clearest positives in Edwards’ framework is institutional buying. He described net purchases from U.S. spot ETFs and roughly 200 treasury companies as one of the most important Bitcoin metrics today, especially when those inflows exceed daily mined supply. “If it’s net positive, especially if it’s above the amount of Bitcoin it’s mined per day, so it’s greater than the organic supply, then that is really positive,” he said. “We’ve seen all the major price appreciation when that’s net positive.” Still, he noted that most of those buyers remain underwater. According to Edwards, about 80% of ETFs and treasury vehicles are currently below cost basis, reinforcing what he called “typical bear market vibes.” A more meaningful signal, he said, would be strong flows holding for a week or two while Bitcoin stays above the $70,000 area, with a weekly close above roughly $71,500 acting as a line in the sand for a more bullish short-term outlook. Related Reading: Bitcoin May Still Fall Under $10,000, Bloomberg’s McGlone Warns Even then, he warned that a rally into the mid-$70,000s or low $80,000s would not necessarily end the broader bearish structure. Quantum Risk Remains The Overhang The biggest reason Edwards is unwilling to get more aggressive is quantum computing risk, which he said is capping Bitcoin’s upside in a way previous cycles never had. He argued the market has already priced in much of that concern, but until Bitcoin Core developers begin treating it as a serious priority, upside may remain constrained. “I honestly think we may not see new all-time highs until it’s addressed by the core team,” Edwards said. “The opportunity is actually skewed to the upside in that as soon as you get two or three or four core developers to start talking about it openly about solving it, I think we can get significant repricing to the upside.” That leaves Bitcoin in an unusual position. Edwards sees a macro backdrop that should favor hard assets, with strong liquidity conditions and gold in a long-term outperformance regime against equities. Under normal circumstances, he suggested, that would be a supportive environment for Bitcoin too. For now, though, he sees a market in value territory rather than true deep value, promising, but not yet compelling. At press time, BTC traded at $71,466. Featured image created with DALL.E, chart from TradingView.com
Bitcoin (BTC) price is trading near $71,700, with market data indicating leverage is gradually returning to derivatives. At the same time, whale order activity is defining key liquidity zones that could determine Bitcoin’s next directional move. After the recent market flush that reduced excessive leverage, traders appear to be rebuilding positions. Data from derivatives markets …
On-chain analytics firm Santiment has highlighted how the average Bitcoin returns of the buyers from the past year are looking similar to late 2022. 365-Day Bitcoin MVRV Ratio Has Plunged Recently In a new post on X, Santiment has talked about the latest trend in the Bitcoin Market Value to Realized Value (MVRV) Ratio. This on-chain indicator measures the ratio between the market cap of the asset and its Realized Cap. The Realized Cap here refers to a capitalization model that calculates the total value of the cryptocurrency by assuming that the ‘real’ value of each token in circulation is equal to the price at which it was last transacted on the blockchain. In short, this metric represents the sum of the capital stored in the asset by all investors. Related Reading: Bitcoin Bull Score Surges To 30, Exits ‘Extra Bearish’ Zone Since the market cap is the amount held by investors in the present, its comparison with the Realized Cap in the MVRV Ratio tells us about the profit-loss status of the overall network. When the value of the metric is greater than 1, it means the investors are in a state of net unrealized loss. On the other hand, it being under the mark suggests the dominance of losses. In the context of the current topic, the MVRV Ratio of the entire market isn’t of interest, but rather that of two specific investor cohorts: 30-day and 365-day buyers. The MVRV Ratios of these groups naturally tell us about the average returns for coins purchased over the past month and past year, respectively. Now, here is the chart shared by Santiment that shows the trend in the 30-day and 365-day MVRV Ratios for Bitcoin over the last few years: As displayed in the above graph, the 30-day Bitcoin MVRV Ratio is currently sitting at the +2.8% mark, suggesting short-term buyers are in a state of slight profit. This could raise the chances of a profit-taking selloff occurring, but perhaps not by much as these returns aren’t significant enough to fall inside what the analytics firm defines as the “Danger Zone.” The picture is a bit different when it comes to the profitability of the 1-year investors. From the chart, it’s visible that the MVRV Ratio has plunged to the -26.6% mark for this group, which is well past the boundary for the “Opportunity Zone.” Interestingly, the last time that the indicator fell to such a low level was at the end of the 2022 Bitcoin bear market. “When the 365-day MVRV was severely negative following the FTX collapse, $BTC proceeded to rise +67% in the following 3 months,” noted Santiment. Related Reading: XRP Bollinger Bands Are Squeezing—Volatility Incoming? That said, while the current value is similar to back then, the structure itself more resembles that of mid-2022, since the metric has only recently plummeted to these levels, while in late 2022, it was on the way back up. BTC Price At the time of writing, Bitcoin is floating around $70,500, down nearly 1% over the last seven days. Featured image from Dall-E, chart from TradingView.com
Despite trading more than 40% below its all-time high, with $70,000 serving as a short-term support level, Bitcoin (BTC) may be poised for a repeat pattern that could lead to a 54% increase following this year’s US midterm elections. New research from cryptocurrency exchange Binance suggests that, historically, the aftermath of midterm elections has been positive for both the Bitcoin price and the S&P 500. Will Bitcoin Follow Historical Patterns? The research shows that since 1939, the S&P 500 has reported no negative returns in the 12 months following midterm elections, averaging gains of 19%. In the same periods, Bitcoin has experienced an average rally of 54% across all three previously recorded midterm years. Binance’s analysis further reveals that midterm election years often lead to political volatility, resulting in average peak-to-trough drawdowns of about 16% for the S&P 500—marking them as the weakest years in the four-year presidential cycle. Related Reading: Ripple Launches $750 Million Share Buyback, Boosting Valuation To $50 Billion Tracking Bitcoin from 2014 onward, the research indicates that the market’s leading cryptocurrency has mirrored these market dynamics, with an average decline of 56% during midterm years. The research emphasizes what they call “The Post-Election Opportunity,” as once election results are settled and uncertainties are cleared, markets historically tend to rally significantly. The exchange asserts that the year following midterm elections has been shown to be particularly strong for market returns, thus setting the stage for potential Bitcoin gains as well. If Bitcoin follows a similar trajectory, it could make a strong case for a rebound. However, potentially not toward new record highs. The cryptocurrency has fallen by an average of 70% from its previous all-time highs during previous bear market cycles. With Bitcoin’s bull market peak at $126,000, a potential decline to $37,800 could precede a 54% surge pointed by Binance, potentially returning its price to nearly $58,000. However, some analysts are pointing out that the market bottom may already have been reached. Is The End Of The Bear Market Near? NewsBTC reported Wednesday that CryptoQuant analysts suggest that Bitcoin might be in the final stages of its bear market, especially after it dropped to $59,900 on February 6. Related Reading: White House Crypto Advisor Denounces Attempts To Sabotage CLARITY Act’s Goals Currently, Bitcoin is consolidating between $65,000 and $70,000, eyeing the key resistance level at $73,000. This phase may indicate a final accumulation stage of the bear cycle, which is often succeeded by substantial recoveries, albeit not in a straight path. With this pattern in mind, if Bitcoin maintains its current trading levels, the post-midterm elections in the US could propel the cryptocurrency back toward $107,000 for the first time since November 2025. Featured image from OpenArt, chart from TradingView.com
Flagship cryptocurrency Bitcoin today climbed close to $72,000, extending its recent rally as investors reacted to regulatory developments in the United States and easing concerns about rising oil prices. Ethereum, XRP, and Solana all joined the rally, jumping over 3 to 5%. Overall, the crypto market cap increased about 3% to roughly $2.43 trillion. While …
Mobile money is everywhere in Ghana. And now, crypto wants in on that infrastructure too. Related Reading: Bitcoin Crosses 20 Million Coins Mined — And Only 1 In 20 Remains Foreign Players Circle As Local Framework Takes Shape Blockchain.com, one of the older names in the industry, announced this week it had moved into the Ghanaian market with a sharp focus on tying crypto payments to the country’s mobile money ecosystem. The move came just days after Ghana’s Securities and Exchange Commission published a list of 11 virtual asset companies cleared to operate inside a new regulatory sandbox — the country’s first structured attempt to bring order to a fast-growing crypto market. The 11 companies admitted to the program are Africoin, Blu Penguin, Goldbod, Hanypay, Hyro Exchange, HSB Global, KoinKoin, Whitebits, Vaulta, XChain, and Bsystem. They will operate under the Virtual Asset Service Providers Act, a law Ghana passed in December that gave the SEC authority over digital asset activity in the country. Ghana’s SEC just gave crypto builders the green light ???????? The regulatory sandbox under Act 1154 is MASSIVE. 12 months to build, test and get licensed. No more operating in the shadows. For the youth this isn’t just policy. It’s the financial system that finally sees you.… https://t.co/gOftGciEo1 — Kwabena Kesse, CPA, CRISC (@LKKesse) March 11, 2026 A Controlled Environment With A Clock Running The sandbox runs for 12 months. But companies that get their products ready for the market and meet every regulatory requirement could walk away with a full license in as little as six months, according to the SEC. That is a tight window. Participants must also comply with anti-money laundering rules and counter-terrorism financing standards — requirements the SEC made clear are not optional. Consumer protection is built into the program’s design, and officials said the lessons gathered during the pilot will directly shape how Ghana regulates crypto going forward. The VASP law requires anyone operating in the digital asset space to obtain a license or register with either the Bank of Ghana or the SEC. No registration, no operation. Ghana Joins A Region Already Deep Into Crypto Ghana is not coming late to this. The country already ranks among the top five crypto markets in Sub-Saharan Africa, alongside Nigeria, South Africa, Ethiopia, and Kenya. The entire region saw crypto inflows climb over 50% year-on-year, reaching more than $200 billion between July 2024 and June 2025, data from blockchain analytics firm Chainalysis shows. Nigeria led that surge with over $90 billion received in that period. Related Reading: Cardano’s DeFi Boom: TVL Spikes 23% In Less Than 2 Weeks Most transactions across the region fall under $1,000 — a pattern that reflects everyday use rather than large institutional moves. Stablecoins have become a primary tool for cross-border payments and a hedge against local currency swings. Ghana’s sandbox launch signals that the government is no longer watching from the sidelines. With foreign companies arriving and local platforms now operating under official oversight, the country is building a framework it clearly intends to keep. Featured image from Pexels, chart from TradingView
Long-term holders now control roughly 14.5 million BTC — coins that have not moved in over five months and show little sign of heading back to market anytime soon. Related Reading: Bitcoin Crosses 20 Million Coins Mined — And Only 1 In 20 Remains Coins Keep Moving Off Platforms That deep freeze in holder behavior is part of a larger pattern reshaping how Bitcoin is stored and traded. Exchange reserves across all centralized platforms have dropped to approximately 2.75 million BTC as of March 12, according to data from CryptoQuant. That marks the lowest level recorded since 2019 and represents a loss of nearly half a million coins from exchange wallets over roughly two years. The pullback has been driven by three main forces: retail and institutional holders moving coins into private cold storage, spot Bitcoin ETFs steadily absorbing supply since their US launch in late 2023, and publicly traded companies building large treasury positions. On a single day in recent weeks, withdrawals from exchanges hit 32,000 BTC. Net flows turned negative and stayed there. Corporate Buyers Add Pressure to Shrinking Supply Strategy, formerly known as MicroStrategy, has continued stacking coins at scale. Reports indicate that publicly listed companies collectively took in close to 350,000 BTC over a recent stretch, pulling a significant chunk of circulating supply away from trading venues. Spot Bitcoin ETFs added to the draw, pulling in close to $570 million net in a single week. When fewer coins sit on exchanges ready to be sold, even modest waves of buying can move prices sharply. There simply is not enough supply on the order books to absorb demand without price shifting. That dynamic, sometimes called a supply squeeze, has historically preceded stronger price runs — though timing those moves is far from predictable. Price Holds Steady After February Drop Bitcoin spent much of February under pressure, sliding to the low $60,000s before recovering. The coin has since climbed back and been trading in a band between $67,000 and $71,000, hovering near $69,000 to $70,000 as of this report. A break above $72,000 could trigger forced buybacks from traders betting on lower prices, which would add upward momentum. Related Reading: Cardano’s DeFi Boom: TVL Spikes 23% In Less Than 2 Weeks Miners are watching closely. Their breakeven cost on electricity alone sits near $64,000 to $65,000, meaning a sustained drop below that level could force some operators to sell reserves to cover costs. Daily trading volume has remained above $50 billion, which analysts read as steady participation rather than speculative frenzy. Whether the tightening supply eventually pulls prices higher depends on whether fresh demand arrives fast enough to match conviction among current holders — most of whom, based on their behavior, appear in no rush to sell. Featured image from Unsplash, chart from TradingView