On March 6, on-chain data provider Santiment reported that the number of Bitcoin non-empty wallets has surged to an all-time high of 58.45 million, up about 1.69 million in the last six months. Over the same period, BTC reserves on exchanges have dropped to roughly 1.17 million coins, the lowest level since December 2017. Bitcoin was trading around $69,973.03 at press time, after a 3.4% daily decline but a 5.9% gain over the previous week.

On March 5, bitcoin payments company Strike announced it had obtained both a BitLicense and a money transmitter license from the New York State Department of Financial Services. The approvals allow the Chicago-based firm to roll out its bitcoin brokerage, payments, and savings platform to residents and businesses in New York, completing Strike's availability across all 50 U.S. states.

Bitcoin's price slipped back below $70,000 after a brief rally fueled by more than $1.1 billion of spot ETF inflows over three sessions. ETF data from early March show a sharp shift from strong inflows to net redemptions, while analysts highlight stronger spot demand but warn that macro uncertainty, geopolitical tensions and renewed outflows leave the recovery fragile.

On March 2, 2026, Vancouver city staff issued a report concluding that Bitcoin does not meet legal requirements for municipal reserve investments under the Vancouver Charter and related provincial legislation. The report recommends that city council formally drop the 2024 proposal to hold Bitcoin in reserves at its March 10 meeting, citing asset classification limits, risk protections for public funds, and recent price volatility from a peak above $126,000 to around $70,500. Officials noted the city could still, in principle, accept Bitcoin for tax payments if it is converted immediately to Canadian dollars, keeping it outside reserve rules.

On March 6, wallets attributed to trading firm Jane Street transferred a combined 270 BTC, valued at roughly $19 million, to the exchanges Bullish.com and LMAX Digital. The series of moves, recorded within about two hours, has drawn interest from market watchers because such large flows can precede institutional trading activity, even though the specific intent remains uncertain.

On Wednesday, roughly 32,000 BTC worth about $2.26 billion flowed out of exchanges, with on-chain analysis linking the bulk of the move to Bitfinex. The outflow, described as anomalous, is being interpreted by analysts as a potential large spot purchase and early sign of renewed accumulation around the $70,000 price area.

An analyst known as Lofty argues that Bitcoin's recent jump above the $70k resistance to around $71k and then $73k resembles a 2022 bull trap pattern that preceded a steep decline. He claims the largest cryptocurrency could retreat to $45k within 12 days, although other observers view such a deep correction as unlikely and note that even a pullback toward $65k could still qualify as a trap.

On March 5, U.S. spot Bitcoin ETFs saw net redemptions of $227.9 million following a prior session of strong inflows. Ethereum funds registered $90.9 million in outflows, while Solana ETFs lost $6 million, as Bitcoin traded around the $71,000 area and broader crypto markets retreated. The largest withdrawals came from products issued by BlackRock and Fidelity, underscoring choppy institutional demand for crypto ETFs.