Can Bitcoin Sustain Its Uptrend After Breaking $70,000?
After a sluggish February, the crypto market has staged a strong rebound in early March. Yesterday (Mar 5), Bitcoin broke out of its consolidation range, briefly touching $74,000, with a 24-hour gain of nearly 8%. Ethereum reclaimed $2,100, and the altcoin market broadly recovered as overall market momentum shifted upward.
However, after a huge rebound, Crypto Fear & Greed Index went back to “Extreme Fear” zone again.
Technical Outlook: Will Today’s Pullback Reverse the Rally?
On the daily chart, Bitcoin has not produced a sustained sequence of bullish candles for nearly half a month, indicating that previous rebounds lacked follow-through.
The key level now sits around $74,500.
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If Bitcoin closes today with a strong bullish candle and holds above $74,500, it could form a breakout continuation pattern, signaling that bulls are firmly back in control.
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However, if price quickly turns bearish, traders should be cautious of a potential bull trap at higher levels.
Key Levels:
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First entry zone: $71,500 – $72,000 (strong pullback support)
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Major defense level: $70,000 psychological support (key level for support-resistance flip)
Is $60K–$70K a Strong Accumulation Zone?
Glassnode data reveals an important signal. During February’s consolidation, roughly 400,000 BTC were accumulated between $60,000 and $70,000.
Supply held in this range surged from 997,000 BTC at the beginning of the year to 1.43 million BTC, representing over 8% of the circulating supply outside exchanges.
This dense accumulation band suggests that even if prices pull back, the $60K–$70K zone may provide strong structural support, while selling pressure has significantly diminished.
Trump, Saylor, and Wood: How Do They View Bitcoin?
Recent remarks by Donald Trump on Truth Social have reignited expectations around the “CLARITY Act of 2025” (Digital Asset Market Clarity Act). If passed, the bill could ease the long-standing tension between the banking sector and the crypto industry, potentially ending months of market stagnation.
Michael Saylor’s $Strategy(MSTR)$ now holds over 720,000 BTC. Despite the company’s average cost around $76,000, Saylor continues to argue that Bitcoin is currently in a stage similar to Apple’s early “valley of despair” period before its major growth cycle.
Meanwhile, Cathie Wood of $ARK Innovation ETF(ARKK)$ emphasizes Bitcoin’s low correlation with traditional assets as the key reason institutions are allocating capital to it. She also notes that the current V-shaped rebound may indicate the market has already reached a potential technical bottom.
Discussion
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How do you view Bitcoin’s rebound above $70,000?
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Is the market forming lower highs, signaling a possible slowdown?
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Has this rally already paused, or is it preparing for another leg higher?
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And more importantly, do you remain bullish on Bitcoin’s long-term trajectory?
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Leave your comments to win tiger coins~
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Technically, $74,500 is key. A strong close above it could confirm continuation, but bull traps remain possible. I focus on entry zones like $71,500–$72,000 and $70,000 as risk support. Patience and discipline are crucial in volatility.
Long-term, I remain bullish. Michael Saylor’s accumulation and Cathie Wood highlighting Bitcoin’s low correlation reinforce its value. Trump’s regulatory remarks are a potential catalyst. I see this rebound as a chance to gradually build or maintain positions while watching technical signals. I’m keeping a close eye on momentum indicators to decide whether the next leg higher is underway.
@Tiger_comments @TigerStars @TigerClub
Bitcoin's recent volatility highlights a critical battle between technical resistance and institutional accumulation.
Market Dynamics & Key Levels
Price Action: After briefly touching $74,000 on March 5, 2026, Bitcoin has slumped to approximately $67,300–$67,600 as of March 9.
Sentiment Shift: The Crypto Fear & Greed Index has plunged into "Extreme Fear" territory, currently sitting at a score of 8 to 18.
Macro Pressure: Rising oil prices (surpassing $100/barrel) and Middle East tensions are adding significant macro pressure to the rally.
Key Resistance: $74,500 remains the critical level to reclaim to confirm a breakout continuation.
Support Zones:
Immediate: $67,000 is a vital psychological and technical support.
Major: The $60,000–$70,000 range is a dense accumulation zone where over 1.4 million BTC are now held
The market is closely watching the "CLARITY Act of 2025"
If passed, this legislation is expected to ease tensions between banks and the crypto sector.
The formation of lower highs could indicate weakening buying pressure; however, this may just be a natural phase in the volatile Bitcoin cycle; conversely, recent bounces off local lows are signaling a possible slowdown of the bearish momentum, yet the battle remains between technical resistance and building on-chain strength
If Bitcoin consolidates above $70,000, it could be preparing for another upward move; failure to hold this level may signal the rally has paused and lead to a prolonged correction
The long-term trajectory of Bitcoin remains bullish due to increasing institutional adoption and its growing role in the global economy; despite short-term cyclical cooling, the scarcity narrative remains intact。。。
The key level now sits around $74,500.
If Bitcoin closes today with a strong bullish candle and holds above $74,500, it could form a breakout continuation pattern, signaling that bulls are firmly back in control.
However, if price quickly turns bearish, traders should be cautious of a potential bull trap at higher levels.
The long-term outlook remains highly bullish due to the increasing "institutionalization" of the asset, with major banks like Goldman Sachs and Standard Chartered maintaining cycle targets between $150,000 and $200,000.
The rally is currently in a "healthy pause"; the market is cooling off overleveraged long positions, which builds the necessary base to challenge the $74,000 - $76,000 resistance for the next leg up.
While some analysts fear a "lower high" structure relative to the $100k peak, the current chart shows rising local support (higher lows) since February, suggesting the market is consolidating rather than breaking down.
Bitcoin’s return to $70,000 is a critical psychological victory that confirms strong institutional demand, specifically through consistent Spot ETF inflows that absorbed recent sell pressure.
Bearish/counter risks: Momentum indicators are diverging in places, and the market remains in a corrective structure from prior highs (some mention peaks around $90k+ earlier). If $70k fails decisively (e.g., multi-week close below + heavy ETF outflows), deeper pullbacks toward $60k or even $50k–$58k aren't ruled out in some forecasts. Geopolitical noise and macro headwinds have contributed to choppiness.