BTC seems to be holding at the $70000 price range. The original crypto tested the $71000 level on March 24, 2026, albeit without success. BTC even climbed to the $75000 price level on March 17, but was unable to hold. According to CoinGecko’s Bitcoin data, BTC has risen 0.6% in the last 24 hours, 1.5% in the 14-day charts, and 9.3% over the previous month. However, the asset is down by 5% in the weekly charts and 18.5% since March 2025. Let’s discuss what’s holding Bitcoin (BTC) down, and what it needs to rally.
What’s Holding Bitcoin At $70000?
Bitcoin is probably caught between growing accumulation by long-term holders and an ongoing period of realized losses on-chain. According to GlassNode data, BTC’s Net Realized Profit/Loss has remained negative on the 24h moving average since January 20, 2026 till March 20, 2026. The negative net profit/loss means that market’s cost basis sits above Bitcoin’s (BTC) current price for a substantial number of holders. The development may be leading to less demand above the $70000 price level.
Additionally, investors who exited the crypto market over the last few months may be reluctant to return just yet. Risk appetite is significantly low and geopolitical tensions run high. The US-Iran conflict has put substantial economic pressure on a global scale. If the conflict continues, we could potentially see a recession. Bitcoin (BTC) and other risky assets may take additional hits if tensions do not cool off.
Also Read: Cryptocurrencies Surge After War De-Escalation: Bull Run Soon?
However, there is a chance that the Federal Reserve may print more money to keep the US war machine afloat. An increase in currency notes could lead to a surge in liquidity, which in turn could aid Bitcoin’s (BTC) price. Moreover, the Federal Reserve is expected to roll out an interest rate cut after Kevin Warsh rakes office. An interest rate cut could also lead to Bitcoin (BTC) gaining some momentum.
