{"id":95026,"date":"2026-03-07T11:47:54","date_gmt":"2026-03-07T08:47:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=95026"},"modified":"2026-03-07T11:52:03","modified_gmt":"2026-03-07T08:52:03","slug":"bitcoin-fails-to-hold-above-70000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-fails-to-hold-above-70000\/","title":{"rendered":"Bitcoin fails to hold above $70,000"},"content":{"rendered":"<p>Bitcoin\u2019s sprint above $70,000 quickly fizzled, and analysts warned of scope for a deeper pullback.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"537\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-64cbf92560195e95-8089193262610489-1024x537.png\" alt=\"image\" class=\"wp-image-276399\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-64cbf92560195e95-8089193262610489-1024x537.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-64cbf92560195e95-8089193262610489-300x157.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-64cbf92560195e95-8089193262610489-768x403.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-64cbf92560195e95-8089193262610489-1536x806.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-64cbf92560195e95-8089193262610489.png 1595w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly BTC\/USD chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>On March 4 bitcoin abruptly jumped <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-breaches-71000-as-spot-etf-investors-nurse-losses\">to just shy of $72,000<\/a>. In subsequent trade the price briefly <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-briefly-tops-74000\">topped $74,000<\/a> for the first time in a month.<\/p>\n<p>By the evening of March 6 the asset was range-bound around $68,000. Over the past 24 hours the bellwether fell 4.1%, while Ethereum slid more than 5% and settled below $2,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-1afbcbe13ceea59e-8089193359049272-1024x586.jpeg\" alt=\"image\" class=\"wp-image-276402\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-1afbcbe13ceea59e-8089193359049272-1024x586.jpeg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-1afbcbe13ceea59e-8089193359049272-300x172.jpeg 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-1afbcbe13ceea59e-8089193359049272-768x439.jpeg 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-1afbcbe13ceea59e-8089193359049272.jpeg 1274w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Total market capitalisation fell 3.4% \u2014 to about ~$2.4 trillion.<\/p>\n<p>Analysts <a href=\"https:\/\/www.coindesk.com\/markets\/2026\/03\/06\/why-bitcoin-suffered-a-usd110-billion-wipeout-despite-its-best-week-of-wall-street-news-in-months\">cited<\/a> macroeconomic forces as the main cause of bitcoin\u2019s pullback. A statement by US President Donald Trump ruling out any chance of a negotiated settlement with Iran sparked a jump in oil prices and a stronger dollar index, pressuring risk assets such as big-tech shares and cryptocurrencies.<\/p>\n<p>A potential rise in fuel costs fanned inflation fears and dimmed hopes for a rate cut by the <span data-descr=\"US Federal Reserve System\" class=\"old_tooltip\">Fed<\/span>. At the time of writing, fewer than 4% of market participants think the central bank will do so at its next meeting on 18 March. A week earlier the share of optimists was twice as high.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-f51bee6c455fff1b-8089193336798253-1024x576.jpeg\" alt=\"image\" class=\"wp-image-276401\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-f51bee6c455fff1b-8089193336798253-1024x576.jpeg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-f51bee6c455fff1b-8089193336798253-300x169.jpeg 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-f51bee6c455fff1b-8089193336798253-768x432.jpeg 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-f51bee6c455fff1b-8089193336798253.jpeg 1146w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\">CME Group<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Selling pressure<\/h2>\n<p>A CryptoQuant analyst known as Darkfost noted profit-taking by short-term holders of bitcoin (STH) after the price hit $74,000.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">STH Selling Pressure Emerges Despite BTC Recovery<\/p>\n<p>\u201cOver the past 24 hours, STHs have sent more than 27,000 BTC in profit to exchanges, which ranks among the highest levels observed in recent months.\u201d \u2013 By <a href=\"https:\/\/twitter.com\/Darkfost_Coc?ref_src=twsrc%5Etfw\">@Darkfost_Coc<\/a> <a href=\"https:\/\/t.co\/0gsKZM6LT3\">pic.twitter.com\/0gsKZM6LT3<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/2029906680868163799?ref_src=twsrc%5Etfw\">March 6, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Over 24 hours this cohort sent 27,000 BTC to exchanges, one of the highest readings in recent months. Their realised price is around $68,000.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe current news flow and macroeconomic forecasts remain quite negative in the short term, which makes such behaviour relatively understandable and, in this case, fairly rational. At the moment it points to seller pressure worth watching, as STHs are not yet ready to hold their positions for longer,\u201d Darkfost noted.\u00a0<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/app.santiment.net\/insights\/read\/this-week-in-crypto-full-written-summary-w1-march-2026-10624?utm_source=weekly&#038;utm_medium=email&#038;utm_campaign=year2026week9\">Santiment<\/a>, whales (balances of 10\u201310,000 BTC) sold around 66% after bitcoin cleared $70,000, locking in profits.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-2500a4d2853aa6c2-8089193450624500-1024x576.png\" alt=\"image\" class=\"wp-image-276400\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-2500a4d2853aa6c2-8089193450624500-1024x576.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-2500a4d2853aa6c2-8089193450624500-300x169.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-2500a4d2853aa6c2-8089193450624500-768x432.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-2500a4d2853aa6c2-8089193450624500-1536x864.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-2500a4d2853aa6c2-8089193450624500.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Santiment.<\/figcaption><\/figure>\n<p>Smaller investors (up to 0.1 BTC), by contrast, began adding on the pullback from the highs.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhen retail traders are buying and large players are selling, it usually signals that the correction is not over,\u201d Santiment warned.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Is the four-year cycle at work?<\/h2>\n<p>Bitcoin is in the deepest phase of a bear market and conditions could worsen, <a href=\"https:\/\/www.coindesk.com\/markets\/2026\/03\/07\/bitcoin-could-crash-another-30-as-four-year-cycle-gains-strength-investment-firm-says\">CoinDesk<\/a> quoted ZX Squared Capital founder C.K. Zheng as saying.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe expect a further 30% price decline during 2026, as the war with Iran has begun,\u201d the expert said.<\/p>\n<\/blockquote>\n<p>He cited cycles linked to <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-bitcoin-halving\">halvings<\/a> as a key catalyst for continued correction. Historically, the price peaked 12\u201318 months after each halving of the block reward, followed by roughly a year of prolonged declines.<\/p>\n<p>In April 2024 bitcoin underwent its fourth halving. Eighteen months later \u2014 in October 2025 \u2014 it registered an all-time high above $126,000.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe momentum of the \u2018four-year crypto cycle\u2019 is building, and it is extremely hard to break because of the psychological behaviour of individual investors,\u201d Zheng said.<\/p>\n<\/blockquote>\n<p>In his view, bitcoin still trades like a speculative asset and has yet to become a \u201csafe haven\u201d akin to gold. He also urged against overstating the level of institutional adoption.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe total size of crypto <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETFs<\/a> and firms managing digital assets is about 10% of the entire market. Some <span data-descr=\"companies with crypto treasuries\" class=\"old_tooltip\">DAT<\/span> may be forced to sell cryptocurrency to meet debt-service obligations under current conditions, which could create a vicious circle,\u201d Zheng warned.<\/p>\n<\/blockquote>\n<p>Earlier, CryptoQuant <a href=\"https:\/\/forklog.com\/en\/news\/cryptoquant-labels-bitcoins-surge-a-temporary-rebound\">said<\/a> bitcoin\u2019s rise to $74,000 was a fleeting bounce rather than the start of a new bull market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s rally above $70,000 faded quickly, and analysts warned of the potential for a deeper pullback.<\/p>\n","protected":false},"author":1,"featured_media":95027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin\u2019s brief run above $70,000 fades as analysts warn of deeper losses.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1146,1138],"class_list":["post-95026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"149","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin\u2019s brief run above $70,000 fades as analysts warn of deeper losses.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=95026"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95026\/revisions"}],"predecessor-version":[{"id":95028,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95026\/revisions\/95028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/95027"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=95026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=95026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=95026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}