Bitcoin traded in a tight range on Monday as it hovered around $68,198, while analysts assessed nearly $801.87 million of inflows into Bitcoin exchange-traded funds in the final week of February. Several on-chain and market analysts pointed to parallels with previous cycles, key support levels around $66,000 to $64,000, and contrasting liquidation data at $80,000 and $57,000. These developments have fueled debate over whether Bitcoin will see a short-term correction before any sustained rebound.

Bitcoin briefly traded above $73,000 over the past day, while multiple on-chain indicators from Swissblock and CryptoQuant suggest it may be transitioning out of peak negative momentum. Demand contraction has eased, US spot ETF inflows have turned positive, and selling pressure from both traders and long-term holders has declined, yet resistance zones around $79,000 and $90,000 still define whether this move becomes a lasting regime shift.

Bitcoin recently pushed above $70,000, prompting debate over whether the move signals a new major uptrend or just another step in a long-term bottoming phase. Analyst CrypFlow, in a technical study using multi‑year trendlines and the Stochastic RSI, argues that Bitcoin is forming a major cycle low along a trendline dating back to 2018 and retesting the former $69,000 resistance as support. Based on how long the Stochastic RSI historically stays below zero, the analyst suggests a double‑bottom structure into October 2026 could precede the next full‑scale bull run.

On March 6, Bitcoin traded close to $70,000 as tensions around the Strait of Hormuz pushed energy prices higher and pressured global risk assets. Despite the volatility and nearly $228 million in ETF outflows on March 5, on-chain data showed net BTC flows to exchanges remained negative, with around 6,500 BTC leaving trading platforms over the week. Activity on major venues such as Binance intensified, with roughly 425,000 BTC in 30‑day turnover against reserves of about 660,000 BTC, suggesting heightened speculative trading even as long‑term holders moved coins into cold storage.

During the current US/Israel-Iran escalation, Brent crude has climbed to $85.49 from a $73 pre-strike level, and banks have modeled scenarios in which prices extend to $100, $125, or even $150. If elevated oil persists beyond roughly 50 days and pushes inflation higher, analysts warn the Federal Reserve may delay or cancel planned rate cuts, turning Bitcoin's recent "Fed pivot" tailwind into a major liquidity headwind. Under these stress cases, estimates suggest Bitcoin could fall between 5% and 45%, with additional pressure from rising energy costs eroding miner profitability.

On March 6, 2026, Bitcoin faced renewed selling pressure from short-term holders who transferred 27,000 BTC, worth about $1.86 billion, to exchanges in profit. This wave of profit-taking was the largest since January 14, 2026, a period that preceded a 36% decline in BTC's price. Analysts point to worsening macro conditions, ETF outflows, falling open interest, and a new death cross between the 50 and 200 SMA as signals that Bitcoin may be entering the final downward phase of its current cycle unless it can reclaim the $94,000 level.

In February, CleanSpark, Cango and BitFuFu together mined close to 1,250 BTC, with CleanSpark contributing 568 BTC, Cango 454.83 BTC and BitFuFu 227 BTC. The three bitcoin miners also detailed efforts to leverage their power capacity and data centers for artificial intelligence and high-performance computing as they seek new revenue opportunities beyond traditional mining.

On March 6, 2026, trader Michaël van de Poppe stated that Bitcoin’s bearish phase has concluded after observing a pattern of higher lows and stronger technical structure on multiple timeframes. He expects BTC to potentially reach the $75,000‑$80,000 range in March and notes a bullish divergence on the BTC versus gold chart, while Bitcoin trades around $68,291, down 3.7% over the last 24 hours.