Bitcoin (BTC) is staging a high-velocity recovery on March 5, 2026, surging 7.17% to reach $73,122. Fueled by $680 million in two-day ETF inflows and President Trump’s endorsement of the Clarity Act, BTC has decoupled from equities to test one-month highs.

Paraguay's state electricity company ANDE has signed an MoU with infrastructure firm Morphware to develop a government‑run Bitcoin mining program using confiscated mining machines and surplus power from the Itaipú dam. The initial pilot will connect about 1,500 seized rigs at utility sites, with authorities having accumulated close to 30,000 ASIC miners through raids on unmetered, illegal operations since early 2024.

Bitcoin traded above $71,000 after weeks of turbulence, while derivatives data showed a sharp drawdown in leverage and ongoing dominance of short positions. Open Interest has fallen by more than $24 billion since 6 October and funding rates remain mostly negative, even as aggressive buyers and shrinking exchange reserves offer some support.

Bitcoin has climbed back above $70,000 after weeks of volatile trading, easing some selling pressure while overall liquidity and sentiment remain fragile. CryptoQuant data shows spot Bitcoin ETF holders sit below an estimated average cost near $79,000, implying unrealized losses despite the rebound. The recent correction triggered about $8.9 billion in ETF value drawdowns and more than 42,000 BTC outflows from BlackRock's IBIT, though outflows have recently slowed.

Bitcoin has climbed from support near $67,500–$68,800 to trade above $70,000 and the 100-hour simple moving average, with a recent high at $74,062. The price now consolidates below resistance around $72,800–$73,500, while key support levels sit at $72,200, $72,000, $70,000 and $68,000. A sustained move above $73,500 could open the way toward $74,000–$77,200, whereas a drop under $70,000–$68,000 may signal a deeper correction.

On March 5, 2026, Morgan Stanley disclosed in an amended SEC filing that Coinbase Custody and BNY Mellon will serve as custodians for its proposed Morgan Stanley Bitcoin Trust, a spot Bitcoin ETF. The structure lets investors buy shares tracking Bitcoin's market price instead of holding the cryptocurrency directly, while BNY Mellon also takes on administrator, transfer agent, and cash custodian roles. This move highlights how a major U.S. bank is expanding its branded digital asset products as demand for regulated Bitcoin ETFs continues to grow.

The United States Senate is preparing to vote on President Donald Trump's nomination of Kevin Warsh as the next Federal Reserve chair, succeeding Jerome Powell when his term ends in May. Bitcoin has climbed to a four-week high and is approaching resistance near $70,000, while options markets show a notable premium for put contracts over calls as traders weigh Warsh's crypto-friendly remarks against his reputation for hawkish monetary policy.

Bitcoin recently climbed to a four-week high after rebounding 22% from a local bottom near $60,000, but derivatives pricing and on-chain data show traders still prefer downside protection. About 43% of the circulating supply is at a loss and major corporate holders face an average cost basis around $76,000, creating psychological and structural resistance below the prior $78,700 monthly close. Weak miner profitability and growing AI-related energy competition are adding further selling pressure that could slow any move higher.