Bitcoin (BTC) has shown remarkable resilience despite the instability caused by the Middle East conflict, which has been marked by US and Israeli military action against Iran since February 28th. After falling to $63,123 on the same day, the currency began to recover, increasing by 17% in terms of currency.
This asset shows resilience By quickly regaining ground and establish a solid foundation in the $70,000 range.
In this upward trajectory, The asset reached a relevant peak of $74,000 on March 4th and reached a similar level todayOn March 13th, it touched $73,928 and then stabilized at $71,996.
From a technical perspective, analysts believe that as long as the $70,000 support remains Bitcoin’s next target is between $75,000 and $76,000.
This optimism has been fueled by steps taken by President Donald Trump’s administration to rein in energy costs, creating hopes that this will increase global liquidity.
Impact of new energy policy
Oil prices rose to $120 on March 8, but have remained at $100 since then. The rise is linked to the closure of the Strait of Hormuz, a key shipping lane that constitutes one of the most important energy routes on Earth. circulate there Approximately 20% of the world’s oil And a significant portion is liquefied natural gas.
In the face of this situation, the United States is implementing alternative measures to supplement the blockade. As reported by CriptoNoticias, President Donald Trump’s administration plans to release 172 million barrels of oil from the Strategic Reserve. demand Avoid further rise in oil prices.
In line with this goal, U.S. Treasury Secretary Scott Bessent also announced that “countries are now temporarily allowed access to Russian oil stranded at sea.” The idea is expand supply existing oil
“This limited and short-term measure applies only to oil already in transit and does not provide any significant financial benefit to the Russian government, which derives most of its energy revenue from taxes levied at the point of extraction,” Bessent said.
This is a strategic change. Russia’s oil trade was restricted from 2022 due to sanctions imposed in response to Russia’s invasion of Ukraine. However, the current focus of efforts is to It could reduce the threat of an inflationary spiral and ultimately open the door to increased liquidity in the financial system.
If the strategy of releasing reserves and approving purchases of Russian oil works, it will ease pressure on the Federal Reserve and improve overall investor sentiment. boost the price of bitcoin. In any case, the announcement of the US initiative already seems to have reassured the market..
USD 70,000 level is key for Bitcoin
Market analyst Ted Pillows explained that if Bitcoin stays above the $70,000 area, it could move towards the $76,000 level.
If the price remains above this number, it means there is enough purchasing power to prevent further declines. integrate This zone turns round psychological numbers into a solid foundation for the next rise..
Meanwhile, Carolina Gama, Argentina country manager at cryptocurrency exchange BitGet, told CriptoNoticias that the fact that Bitcoin has recorded five consecutive blue candles and is above its 200-week exponential moving average (EMA) “suggests that the market is starting to perceive this asset with a more solid structure, even in times of great global uncertainty.”
“If BTC manages to close the week with support at the 200-week EMA level, the market could gain momentum.” “To test the next important psychological resistance in the $75,000 area,” the executive added.
