Morgan Stanley has recently updated its Form S-1 registration with the U.S. Securities and Exchange Commission, advancing its plans to launch a Bitcoin exchange-traded fund (ETF).
Today’s significant price surge allowed Bitcoin ($BTC) to decisively break above the resistance line that had contained it during a three-week consolidation phase.
According to data from Coinglass, the cryptocurrency market experienced liquidations totaling $589 million amid this volatility.
The crypto sector saw substantial inflows during Wednesday’s U.S. trading session, pushing the total market capitalization up to $2.47 trillion. This buying momentum appears linked to shifting risk appetites as investors digested geopolitical developments and renewed interest in spot Bitcoin ETFs emerged. Alongside a short squeeze driven by derivatives markets, Morgan Stanley’s fresh SEC filing for its spot Bitcoin ETF signals progress toward an anticipated launch.
Bitcoin Surges Following Morgan Stanley’s Spot ETF Filing
Bitcoin surged approximately 8% today, reaching around $73,792 per coin. This rally boosted Bitcoin’s market cap close to $1.47 trillion. The sharp upward move triggered liquidations of roughly $276 million among traders holding short positions and forced exits worth about $27 million among long holders.
A key driver behind this price rebound is renewed capital flowing into U.S.-based spot Bitcoin ETFs—Tuesday alone saw inflows of $225.2 million following Monday’s impressive influx of $458 million—indicating robust demand absorbing available supply and supporting bullish momentum.
Morgan Stanley filed Amendment No. 1 for its Form S-1 on March 4th, 2026 with the SEC concerning their proposed Morgan Stanley Bitcoin Trust—a passive spot ETF designed to hold actual Bitcoins that mirror their real-time market value.
The amendment specifies Coinbase Custody Trust Company as the custodian responsible for safeguarding these digital assets through segregated accounts primarily utilizing cold storage solutions; Coinbase also manages prime brokerage services including trade execution.
The Bank of New York Mellon serves as administrator, transfer agent, and cash custodian overseeing accounting tasks along with share transfers and cash operations related to the trust.
This trust aims to track Bitcoin price performance closely while allowing authorized participants flexibility in creating or redeeming shares either in-kind or via cash transactions once approved shares begin trading on NYSE Arca under regulations governed by the Securities Act of 1933—with day-to-day management handled by Morgan Stanley Investment Management Inc., acting as sponsor.
Bitcoin Breaks Through Two Critical Resistance Levels Amid Recovery
For nearly three weeks prior, bitcoin traded within tight boundaries formed by converging trendlines resembling an inverted pennant pattern—a reflection of indecision amid ongoing geopolitical tensions affecting broader markets without clear buyer or seller dominance at those levels.
Todays’ strong buying activity pushed prices beyond both this triangular formation’s upper boundary near $68K plus another horizontal resistance at approximately $73,387—signaling renewed bullish strength supported further by RSI climbing back up towards 57%, reinforcing positive momentum indicators across technical charts.
If sustained beyond these breakout points successfully holds ground above them then bitcoin could potentially advance another 10% before encountering a major descending resistance trendline positioned near around eighty thousand eight hundred dollars ($80, 800). Overcoming this hurdle would be crucial for establishing mid-term recovery trends favoring buyers strongly pushing forward higher valuations sustainably going forward.
$BTC / USDT – Daily Chart
Conversely if selling pressure intensifies again upon reaching these resistances then current correction phases might extend further throughout this month delaying any immediate upside continuation scenarios significantly.