Bitcoin testing support
Bitcoin has been trading around ~$70,770 and is flirting with the critical $70,000 support level — bulls are watching a $72,600–$75,000 breakout zone that could trigger FOMO buying. Total crypto market cap sits near $2.44 trillion and analysts flagged that long‑term holders’ net selling collapsed 87% between Feb 5 and Mar 1, while some forecasts diverge sharply (one calls for $110–$120k if ETF inflows accelerate). ( )
Long‑term holder selling didn’t just ease — on a 30‑day rolling basis net LTH outflows fell from about −243,737 BTC on Feb. 5 to roughly −31,967 BTC by Mar. 1, a shift visible in on‑chain trackers cited by BeInCrypto. (beincrypto.com) Miner behavior softened alongside that LTH shift: reported miner net selling compressed from about −4,718 BTC at the early‑February peak to roughly −837 BTC by March 1, removing a significant structural source of sell pressure. (primexbt.com) Technicals are being tested in real time — bitcoin briefly pushed past $75,000 in mid‑March, reaching highs near $75,800 on March 17 during a derivatives‑driven surge, showing the market can still clear that resistance at times. (coindesk.com) Institutional flows have been the proximate fuel: U.S. spot Bitcoin ETFs recorded a single‑day inflow of about $458 million on March 2 and gathered roughly $2.5 billion of net inflows across March, reversing earlier outflows. (tradingnews.com) Big‑picture forecasts remain split — macro economist Henrik Zeberg laid out a primary scenario targeting $110,000–$120,000 for BTC if ETF inflows sustain and risk appetite returns, a projection he published in early March. (cryptonews.com) Bitcoin’s own market cap sits around $1.33 trillion as of late March, leaving the broader crypto market capitalization and ETF flows as the main levers likely to determine whether the current consolidation resolves into a sustained rally. (coingecko.com)
