Here’s why Bitcoin price could maintain strength above $70,000
The post Here’s why Bitcoin price could maintain strength above $70,000 appeared on BitcoinEthereumNews.com.
Bitcoin rose above $70,000 today for the first time since early February, extending a rebound that is starting to look less like a brief relief rally and more like a market trying to reverse momentum after months of heavy selling. CryptoSlate data showed Bitcoin gaining over 7% on the day, lifting the flagship digital asset to its highest level in almost a month. The move came amid renewed geopolitical tension over Iran, a backdrop that has kept volatility elevated across global markets. What makes the latest bounce notable is not only the headline price move. It is the condition Bitcoin was in before the rebound started. Vetle Lunde, the head of research at K33 Research, said Bitcoin had entered the previous weekend heavily oversold, heavily shorted, and significantly underowned. Related Reading Second top US Bitcoin miner authorizes sale of entire BTC stash as MARA eyes $3.8 billion liquidity option MARA reframes 53,822 BTC as a “readily convertible” liquidity source. Mar 4, 2026 · Gino Matos That matters because Bitcoin was already trading under very different conditions from gold, stocks, and other major assets before the latest Middle East escalation added a new layer of uncertainty. According to K33, Bitcoin had fallen 50% after five consecutive months of downside price action. Its weekly relative strength index had dropped to its third-lowest reading ever. Bitcoin Price Monthly Losses Streak (Source: K33 Research) In other words, Bitcoin entered the week in an unusually stretched state, one that looked statistically abnormal even before geopolitical stress became the dominant market theme. That backdrop is central to the reversal argument now taking shape. Related Reading Bitcoin was oversold more than ever before it jumped – could bears soon get wrecked through liquidations? Bitcoin encounters historic oversold conditions amid ETF outflows and dwindling market liquidity. Feb 25,…
Filed under: News - @ March 4, 2026 5:20 pm