Bitcoin Climbs Back to $68,000 Today as Signs of Selling Pressure Begin to Ease

Jakarta, Pintu News – Bitcoin (BTC) price briefly moved back above $70.00 as trading activity in the spot and derivatives markets increased. Investor Robert Kiyosaki stated that gold jumped $128 in one day, and considered silver and Bitcoin to have the potential to “slide” sharply. In the same vein, crypto analyst Ted said the crypto market valuation increased by almost $100 billion in just one hour.

Then, how will the Bitcoin price move today?

Bitcoin Price Up 3.76% in 24 Hours

On March 3, 2026, Bitcoin was trading at $68,870, or roughly IDR 1,161,982,611, after posting a 3.76% rebound over the past 24 hours. Within that window, BTC dipped to a low of IDR 1,104,845,165 and climbed to a high of IDR 1,176,404,064.

At the time of writing, Bitcoin’s market capitalization is estimated at around IDR 23,315 trillion, while 24-hour trading volume has surged 32% to IDR 1,016 trillion.

Read also: Altcoins Ready to Explode in March? Strong Signals Are Starting to Emerge Amidst a Lethargic Market!

Derivatives Volume and Open Interest Increase

CoinGlass data shows derivatives trading volumes rose 8.7% to $72.3 billion. In the same period, open interest also increased by 6% to $46.9 billion. When open interest increases alongside price increases, it is often interpreted as an influx of new positions, rather than simply the closing of old ones.

Market watchers also noted a strong liquidity sweep around the $65,200 level. After that, the price moved up towards the point of control in the $68,200 area. Some analysts think that a consistent four-hour candle close above this zone could be a confirmation of short-term strength.

Crypto analyst Michaël van de Poppe stated that Bitcoin broke $65,000 and turned the level into support. He added that the next target area could potentially be in the range of $75,000 to $80,000.

He also highlighted that gold and silver experienced a mild correction after the opening of the US market.

Short-Term Holders Selling Pressure eases

CryptoQuant analysis on March 1 reviewed the Short-Term Holder P&L to Exchanges metric for Bitcoin. This metric measures whether buyers have recently sent BTC to exchanges in profit or loss. In general, short-term holders tend to react quickly to sudden market changes.

Read also: Arthur Hayes Predicts HYPE Token Could Rise 5x as Oil Perpetuals Soar Amid US-Iran War!

On February 5-6, around 89,000 BTC moved to exchanges at a loss within 24 hours. This event coincided with a sharp decline and is often read as a capitulation phase. Since then, inflows to exchanges driven by realized losses have gradually decreased.

The latest geopolitical tensions between the United States and Iran briefly tested market stability. Bitcoin dropped briefly to the $63,000-$64,000 range. However, inflows to the exchanges from short-term holders did not show any significant spike in the movement.

BTC Price Key Levels as Weekly Structure Holds

On the weekly time frame, Bitcoin is trading around the $65,000 channel support. This level coincides with the lower limit of the long-term upward channel. According to Tardigrade Trader crypto analysts, previous corrections in this structure have often found a foothold at similar levels.

The weekly Relative Strength Index (RSI) is still in oversold territory. In previous cycles, similar RSI readings near channel support were often followed by a bounce. Based on the analyst’s view, the bias is bullish as BTC’s weekly close still stands above $65,000.

On the BTCUSD chart he referenced, the key support currently remains around $65,000. A decisive break below that level could open up room for weakness towards $58,000-$60,000. On the upside, if the bullish momentum holds, the next resistance is expected to appear around $70,937 and $71,254.

According to Tardigrade Traders, if the price movement continues in line with the channel, the long-term projection from the channel analysis could lead to $110,000-$120,000. As “buy Bitcoin” searches hit a five-year high, the projected upper limit of the channel hints at the potential for higher levels over time as long as the structure remains intact.

However, for now, the main focus is on whether Bitcoin is able to maintain momentum above $70,000 amid increased volatility due to the US-Iran conflict.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpaper. Bitcoin Price Prediction Recovers Above $70,000 as Robert Kiyosaki Forecasts BTC to Blast Off. Accessed on March 3, 2026