The first cryptocurrency has stabilized at $70,000, supported by renewed capital inflows into U.S. spot Bitcoin ETFs, according to a report from Glassnode.
March 26, 2026 | 14:32 Update:Awaiting Liquidity $BTC has stabilised around $70k, with ETF flows improving and sell-side pressure easing. However, muted spot volume and overhead supply suggest stronger demand is still needed to turn this into a recovery.
— glassnode (@glassnode) March 25, 2026
Read the full Week On-Chain👇https://t.co/MkPSDK7Vol pic.twitter.com/WHL0zMiYEy
Bitcoin's price could not maintain its position and fell to $69,471, losing 2.9% in a day. Following Bitcoin, Ethereum also declined by 5.4%, heading towards the $2,000 mark.
Hourly chart of BTC/USDT on Binance. Source: TradingView.
Hourly chart of ETH/USDT on Binance. Source: TradingView.
This drop occurred amid declines in U.S. stock indices and precious metals, likely due to a waning appetite for riskier assets among investors.
Analysts noted that Bitcoin currently lacks the trading volumes necessary for a confident upward trend. They also observed the formation of a new accumulation zone, with short-term investors holding coins for one to four weeks establishing a base support at $70,200.
Key resistance is expected above $82,000, where a significant volume of supply is concentrated. Experts warned that the support at $70,200 remains vulnerable due to the modest scale of current purchases.
Market sentiment is concerning and reminiscent of the situation in the second quarter of 2022.
Cryptocurrency fear and greed index. Source: Alternative.
Unrealized losses for investors are increasing, but there are no clear signs of capitulation yet. Profit-taking in the network has plummeted by 96% compared to the highs of July 2025 — from $3 billion to $100 million. This sharp decline in liquidity indicates a shortage of fresh capital.
Spot trading remains sluggish. Price recovery is primarily supported by local buybacks during dips. Meanwhile, large investors are cautiously returning to the market, with daily inflows into spot ETFs turning positive again.
In the derivatives market, short positions dominate, and funding rates remain negative. Traders are overpaying to maintain shorts, and if the price continues to rise, this imbalance could trigger a cascade of liquidations, providing additional momentum to the price.
Increased volatility has prompted market participants to buy put options more actively to hedge against price declines. Additional pressure is being exerted by market makers hedging their risks.
Significant changes are expected after the expiration of $10 billion in options. This event will relieve the pressure from hedging trades, making the price more susceptible to external factors and potentially paving the way for further growth. However, this will require a recovery in spot demand.
It's Too Early to Call a Market Bottom
Amid a technical rebound, some analysts claim a local bottom is forming and that an altcoin season is beginning.
However, CryptoQuant expert known as Crypto Dan considers such conclusions premature. He stated that structural signals indicating a shift from the downtrend have yet to appear.
BTC — Still Too Early to Call a Bottom
— CryptoQuant.com (@cryptoquant_com) March 26, 2026
“To confidently identify a true market bottom, more consistent and decisive confirmation signals must appear across on-chain metrics, volatility structures, and capital inflow trends.” – By @DanCoinInvestor pic.twitter.com/eC4AzXML04
After the market transitioned into a bear phase at the end of 2025, Bitcoin dropped to $60,000. While some indicators suggest a potential bottom formation, the analyst views this scenario as just one of several possibilities. A confident trend reversal requires coordinated changes in on-chain metrics, volatility structures, and stable capital inflows. Until these signals emerge, it is premature to declare the end of the downturn.
Recall that on March 25, the price of the first cryptocurrency reached $72,000. This was aided by the approaching large options expiration and reports of potential de-escalation in the Middle East.