The price of Bitcoin is currently attempting to break through the $74,000 mark, spurred by a resurgence in ETF inflows and the formation of a channel pattern.
According to Bloomberg analyst Eric Balchunas, this recent increase in Bitcoin’s value may be more closely linked to the resolution of allegations against Jane Street regarding market manipulation than it is to geopolitical issues such as those involving Iran.
The daily Relative Strength Index (RSI) stands at 52%, suggesting that market sentiment is leaning towards bullish or neutral among traders.
During Thursday’s trading hours in the U.S., Bitcoin’s price dipped over 2%, now trading around $71,000. This decline follows an early-week surge that pushed prices close to the monthly resistance level of $73,000. Despite ongoing supply pressure at this threshold, renewed interest from institutional investors in spot ETFs for $BTC indicates growing demand and hints at a potential bullish breakout. Could we see Bitcoin reclaiming the $80,000 mark soon?
$BTC‘s Recovery Supported by ETF Inflows Despite Resistance at $73K
The latest recovery efforts for Bitcoin have encountered significant resistance around $73,100—an essential barrier that has been influencing its current price consolidation. This downturn has raised questions among traders about whether this recent bounce represents a genuine recovery or merely a bull trap.
In light of these uncertainties surrounding pricing movements, there has been renewed interest from institutional investors in spot Bitcoin ETFs. As reported by FarsideInvestors, U.S.-based spot $BTC ETFs have seen substantial inflows totaling approximately $461.9 billion; notably, iShares Bitcoin Trust ETF (IBIT) attracted about $306 million alone.
U.S.-based spot exchange-traded funds for Bitcoin have shown remarkable activity recently after weeks marked by capital withdrawals; they experienced net purchases amounting to roughly $1.1 billion between March 2-4 of 2026. BlackRock’s IBIT fund was particularly dominant during these days with hundreds of millions drawn into it independently.
This shift resulted in an uptick on the smoothed 14-day average for net flows into positive territory as prices rebounded above $70k and briefly tested levels near $74k despite broader market uncertainty and geopolitical tensions persisting globally.
An analysis based on on-chain data suggests that this movement indicates reduced selling pressure compared to previous periods while some large holders appear quietly re-establishing their positions within the market. Daily inflow figures fluctuated but remained generally positive throughout March even though spot trading stayed confined within certain ranges during parts of the week; institutional engagement seems promising yet lacks aggressive conviction thus far.
Bitcoin Price Gains Bullish Momentum Near Channel Support
Over recent weeks/months leading up until now—Bitcoin’s price action has consistently oscillated between two horizontal boundaries: one set at approximately$73k while another rests closer towards$62k50.
As attempts continue toward recovering past$73K—the expectation remains that $BTC‘s valuation will likely persist within its consolidation phase moving forward..