According to Santiment, Bitcoin's 365-day MVRV ratio has dropped to levels last seen in late 2022 following the FTX collapse, historically a zone of heavily negative returns. Analysts note BTC has been ranging between $63,000 and $72,500, with key on-chain support at $54,400 and resistance near $78,400, and expect a prolonged consolidation before any major price move.

Bitcoin is moving within a $60,000 to $73,000 range, a period that CryptoQuant analyst MorenoDV characterizes as the cycle's most frustrating stage, marked by uncertainty and weak conviction. On-chain indicators such as Apparent Demand, the Bull Market Cycle Indicator, and Long-Term Holder SOPR suggest a psychologically difficult, bear‑style consolidation. At the same time, Bitcoin is attempting to hold near $70,000 and challenge resistance around $72,000–$73,000 after showing resilience during recent geopolitical tensions and political comments.

Bitcoin's price is consolidating after recovering from recent weakness, trading in a zone where buyers are challenging nearby resistance while defending key supports. Technical indicators such as moving averages, MACD, and RSI show easing downside momentum and a gradual shift toward a more balanced structure, with critical levels around $67,850 on the downside and $72,666 on the upside guiding the next move.

Bitcoin moved back above $70,000 on Wednesday after several unsuccessful attempts over the past five weeks to clear the $74,000 resistance area. Despite this recovery, ETF flow data and derivatives pricing point to subdued expectations for a sharp rally, with professional traders showing limited conviction that BTC will reach $78,000 in the near term. Macroeconomic and geopolitical risks, alongside selective institutional adoption, are shaping a more cautious market tone.

Bitcoin-buying firm Metaplanet has created a new entity called Metaplanet Ventures K.K. to invest in Japan-based Bitcoin infrastructure, stablecoin and tokenization startups. The company plans to allocate 4 billion Japanese yen over the next two to three years as it anticipates Bitcoin being treated as a regulated financial asset by January 2028, while still prioritizing long-term BTC accumulation.

Bitcoin's rebound above $68,500 has stalled below the $70,500 resistance area, with price currently holding over $68,650 and the 100-hour simple moving average. A declining channel or potential bullish flag is forming near $68,400 support, and a failure to clear $70,500 could trigger renewed downside toward $68,000 or lower. Technical signals show the MACD in bearish territory and the RSI under 50, suggesting buyers face increasing pressure at higher levels.

On 11 March, Bitcoin climbed back above $71.7K and, after rebounding from the $60K region, began outperforming both Gold and the S&P 500. Since the 24 February dip, BTC has gained about 13.2%, while Gold rose roughly 1.6% and the S&P 500 edged lower, with the BTC/Gold chart hinting that the current cycle bottom may have taken around 14 months to form. This pattern, alongside a monthly RSI rebound from a key support zone, points to a potential renewed capital rotation from traditional markets into Bitcoin.

Fundstrat's Tom Lee said at the Future Proof conference in Miami that Bitcoin's weekend rally while oil prices surged on Middle East tensions showed the asset passed an important stress test. He argued that October's extreme deleveraging is now behind the crypto market, allowing Bitcoin to reassert itself as a store of value even as it traded around $70,000 after briefly touching $71,600.