Bitcoin has been trading above $70,000 over the last 24 to 48 hours, while a Binance BTC/USDT liquidation heatmap points to a dense cluster of short positions around $71,800. This zone, heavily loaded with 50x to 100x leverage, could fuel a sharp squeeze toward $75,000 before liquidation-driven momentum weakens between $72,000 and $76,000. If fresh buyers fail to step in after this liquidity is cleared, the price may quickly lose steam and potentially slide back below $60,000.

On March 5, U.S. spot Bitcoin ETFs collectively recorded their first net outflow of March, with $227.83 million withdrawn as Bitcoin traded near $71,270. Trading activity across the ETF market reached $6.5 billion that day, while BlackRock, Fidelity, Bitwise, ARK 21Shares and Grayscale all saw redemptions and Valkyrie's BRRR fund attracted $5.42 million in new capital. Following the muted institutional participation, Bitcoin slipped back into negative territory, dropping 4.19% in the last 24 hours to around $69,931.

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.