{"id":95244,"date":"2026-03-16T10:19:59","date_gmt":"2026-03-16T07:19:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=95244"},"modified":"2026-03-17T11:07:21","modified_gmt":"2026-03-17T08:07:21","slug":"bitcoin-tests-resistance-at-74000-mark","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-tests-resistance-at-74000-mark\/","title":{"rendered":"Bitcoin Tests Resistance at $74,000"},"content":{"rendered":"

On March 16, the price of the leading cryptocurrency broke through resistance, reaching $74,450. The market was bolstered by capital inflows into spot ETF<\/a>s.<\/p>\n

\"BTCUSDT_2026-03-16_09-34-51\"
Hourly chart of BTC\/USDT on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

At the time of writing, Bitcoin is trading near $73,740, having gained 3.2% over the past 24 hours. Leading altcoins supported the positive trend: Ethereum rose by 7.8% to $2,266, XRP<\/a> increased by 5% to $1.48, and Solana<\/a> appreciated by 6.1% to $93.63.<\/p>\n

\"Screenshot
Source: CoinGecko<\/a>.<\/figcaption><\/figure>\n

One of the drivers of the market recovery was the inflow of capital into crypto funds. From March 9 to 13, net inflows into spot Bitcoin ETFs amounted to $767 million. The positive trend in the sector has continued for the third consecutive week.<\/p>\n

\"Screenshot
Source: SoSoValue<\/a>.<\/figcaption><\/figure>\n

Spot instruments based on Ethereum also extended their positive streak, receiving $160.82 million<\/a> in net investments. Funds based on Solana attracted<\/a> $10.7 million. Meanwhile, investors withdrew<\/a> $28.07 million from exchange-traded products based on XRP.<\/p>\n

However, overall market sentiment remains pessimistic\u2014the cryptocurrency sentiment index<\/a> stands at 23, indicating a phase of “extreme fear.”<\/p>\n

\"Screenshot
Cryptocurrency Fear and Greed Index. Source: Alternative<\/a>.<\/figcaption><\/figure>\n

Andri Fauzan Ajiima, Head of Research at Bitrue, linked<\/a> the price surge to the liquidation of shorts and institutional activity amid historically low coin supply following the halving. The supply of coins on the market remains low after the halving<\/a>.<\/p>\n

The expert emphasized that the market rose despite geopolitical tensions between the US and Iran. While oil trades near $98 per barrel due to the threat of the Strait of Hormuz being blocked, Bitcoin continues to affirm its status as “digital gold” and a safe-haven asset.<\/p>\n

Ajiima described the current price movement as a rebound from a local low of $60,000. For a full-scale rally, the market needs a new impetus. If fund inflows persist, the price could reach $80,000. The main support for this week is at the $70,000-71,000 level. Breaking through the $73,000-74,000 range will accelerate further growth.<\/p>\n

Dominic John, an analyst at Zeus Research, added that a confident break of the $75,000 level would create conditions for strengthening the bullish trend.\u00a0<\/p>\n

Min Yun, a Presto Research employee, advised traders to focus on macroeconomic data and the actions of large corporations. In his view, deals of the scale of the recent purchase of 17,994 BTC<\/a> by Strategy serve as a fundamental support for the entire market.<\/p>\n

Earlier in March, analysts at Santiment pointed out<\/a> a positive signal for digital gold.<\/p>\n","protected":false},"excerpt":{"rendered":"

On March 16, the price of the leading cryptocurrency broke through resistance, reaching $74,450. The market was bolstered by capital inflows into spot ETFs.<\/p>\n","protected":false},"author":1,"featured_media":95245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin reached $74,450, supported by capital inflows into spot ETFs.","creation_source":"ai_translated","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[20,480,569],"class_list":["post-95244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-altcoins","tag-bitcoin-price","tag-etf"],"aioseo_notices":[],"amp_enabled":true,"views":"158","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin reached $74,450, supported by capital inflows into spot ETFs.","is_update":"0","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95244","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=95244"}],"version-history":[{"count":2,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95244\/revisions"}],"predecessor-version":[{"id":95250,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95244\/revisions\/95250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/95245"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=95244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=95244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=95244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}