Bitcoin (BTC) price has managed to overcome the major resistance level at $70,000 and has settled at $71,368 as of this writing, March 4, 2026. This means it has gained 4.5% in the past 24 hours and recovered 11.4% in the last week.
The digital asset, which fell to the $60,000 level on February 5, is showing signs of strength in a context marked by escalating geopolitical tensions in the Middle East.
Iran blocking oil supplies in the Strait of Hormuz and war involving the US and Israel Nothing prevents Bitcoin from establishing solid support above $66,000.
Technical forecast and cumulative range
This bull run has generated positive expectations among some market experts, who believe that a period of flattening is necessary before this move.
One analyst who predicted this move was Michael van de Poppe, who stressed the importance of the amount of time assets remain at low levels before bullish momentum resumes.
“The truth is, we’ve been establishing this range for quite some time. But with this increase, I think we’ll be at $75,000 to $80,000 in March,” Van de Poppe said when assessing the current market structure and exit from the consolidation zone.
The impact of geopolitics on digital markets
However, the interpretation of the current scenario is not unanimous, and other experts on the subject suggest caution given the nature of the events that cause volatility.
carolina gama country manager Bitget exchange Argentina explained in a statement to CriptoNoticias that last week’s sudden move was in response to a combination of key factors.
Intensification of war between the US, Israel and Iran, according to experts Promoting classic risk aversion in global markets. Gama emphasized the need for investors to remain vigilant in the current situation.
The combination of macroeconomic uncertainty and contraction in derivatives markets suggests that Bitcoin may remain sensitive to new geopolitical developments in the short term. Still, high volatility environments tend to create selective opportunities and require discipline, careful reading of scenarios and appropriate risk management by market participants.
Carolina Gama, Country Manager of Argentina de Biguto.
Recovery of investor sentiment
Price trends have a direct impact on investor sentiment. The Fear and Greed Index produced by CoinMarketCap, which serves as a thermometer of market sentiment, is showing a recovery after hitting historic lows last month.
The index reached the 5-point level on February 6th, a number that reflects absolute fear and general defeat.
However, today, March 4, this indicator has risen to 19 points. Although this rally keeps the market within the “extreme fear” category; Indicates the heaviest selling pressure may be behind usAs seen in the graph.
Bitcoin price over the next few days will determine whether this rally is the start of a new sustained bullish cycle or just a temporary easing. While the digital asset looks to turn the $70,000 zone into solid support, it is important to keep an eye on any changes in the international board that could change the trajectory of the digital currency.
