Bitcoin breaks through the $70000 mark, market sentiment turns optimistic At 8pm Beijing time on March 21st, the price of Bitcoin was reported at $70670, once again reaching the 70000 integer mark. This price has increased by about 5% compared to the same period last week, indicating that market buying power is gradually strengthening. From a technical perspective, Bitcoin has successfully broken through the key resistance range of $68000-69000 after experiencing initial volatility and consolidation. At present, the price is above the short-term moving average (such as the 5-day and 10 day moving averages), forming a bullish trend. The next important resistance level is around $72000, which is the high point area for 2025; If successfully broken through, it is expected to open up space up to $75000- $78000. In terms of support, $68500 has become the short-term strong weak boundary, and as long as the price does not fall below this level, the overall upward trend will remain intact. Fundamentally, there are several positive developments worth noting in recent times: 1. Continuous net inflow of institutional ETF funds. According to the latest data, the US Bitcoin spot ETF has accumulated a net inflow of over $800 million this week, indicating that traditional financial institutions' demand for Bitcoin allocation is still ongoing. 2. The macro environment is relatively friendly to cryptocurrencies. The market generally expects the Federal Reserve to initiate a rate cut cycle in the second half of this year, and the liquidity of the US dollar is expected to further ease, which usually benefits the price performance of risk assets such as Bitcoin. 3. On chain data shows that the selling pressure on "long-term holders" (LTH) has significantly decreased. The proportion of addresses holding Bitcoin for more than 155 days has rebounded to a historical high, indicating that most early investors still hold a firm bullish attitude towards the future. Of course, risk factors cannot be ignored. At the regulatory level, some countries are still exploring stricter regulatory frameworks for cryptocurrency exchanges and DeFi platforms; In addition, the uncertainty of the global geopolitical situation may also trigger market volatility in the short term. From a trading strategy perspective, it is recommended that investors remain cautiously optimistic above $70000. Consider arranging the positions in batches to avoid a one-time heavy storage. If the price falls back into the support area of $68500-69000, or there is a good opportunity to increase positions; If it directly breaks through $72000, it can follow up with a light position. Overall, the performance of Bitcoin around $70000 will determine the direction of its trend in the coming weeks and even months. The market is waiting for new catalytic factors, whether it is macroeconomic policy shifts or technological breakthroughs, which may become the starting point of the next wave of market trends. (Data in this article as of 20:00 UTC+8 on March 21, 2026)