Bitcoin recently climbed to a four-week high after rebounding 22% from a local bottom near $60,000, but derivatives pricing and on-chain data show traders still prefer downside protection. About 43% of the circulating supply is at a loss and major corporate holders face an average cost basis around $76,000, creating psychological and structural resistance below the prior $78,700 monthly close. Weak miner profitability and growing AI-related energy competition are adding further selling pressure that could slow any move higher.

Bitcoin rose about 8% on Wednesday to trade above $73,000, after spending roughly three weeks capped in the $64,000–$70,000 range. Analysts say profit-taking near $70,000 must ease and support around the 200-week EMA at $68,000 and the $70,000 zone must hold for BTC to target the next resistance near $75,000.

On 4 March 2026, Bitcoin briefly neared $74,000, trading around $73,651 after gaining more than 7% in 24 hours, while the broader crypto market value moved past $2.5 trillion. Major altcoins also advanced, with Ethereum close to $2,177 and Solana above $92, even as key sentiment gauges continued to signal extreme fear.

From February 28, when Donald Trump authorized Operation Epic Fury’s first strikes, bitcoin has risen 12.1% from $65,492 to $73,419 while crude oil climbed 10.4% and gold fell 3%. Over the same four-day window, silver dropped 10.2%, the S&P 500 slipped 0.1%, and Nvidia gained 2.8%, leaving BTC as the standout performer among large assets during the opening days of the US-Israel war with Iran.

Bitcoin has moved back above $73,000 for the first time since early February, with on-chain analyst Ali Martinez suggesting the move could evolve into a relief rally. Spot Bitcoin ETFs reportedly absorbed about $776 million in BTC last week and roughly $789 million since the week starting March 2, helping to support the price near $73,200. Martinez notes that on-chain resistance looks relatively light between $72,000 and $81,000, with stronger supply clusters only emerging around $83,307 and $84,569.

Bitcoin climbed to a new monthly high above $73,000 after initially dropping to $63,000 when USA and Israel launched a military operation against Iran on Saturday. The price has since recovered more than $10,000, with analysts pointing to aggressive whale buying and a strong breakout, while warning that a fall below roughly $71,500–$72,000 could signal renewed weakness.

On Tuesday, Morgan Stanley submitted an amended S-1 to the SEC for its proposed bitcoin exchange-traded product, designating Coinbase Custody and Bank of New York Mellon as fund custodians. The filing also assigns BNY Mellon several administrative roles and appoints Coinbase as prime broker, as the trust aims to mirror the spot price of bitcoin.

Bitcoin rebounded from about $63,000, reached after weekend US and Israeli strikes on Iran, and pushed toward $73,000 alongside a broader improvement in risk appetite. Over the past two days, US spot Bitcoin ETFs have recorded more than $680 million of net inflows, while rising crypto stocks and steadier oil prices have supported the move.