The price of the first cryptocurrency has approached a local bottom. This was stated by Jan van Eck, CEO of investment firm VanEck, in an interview with CNBC.

According to him, the four-year halving cycle continues to drive prices rather than fundamental factors. Van Eck expects gradual growth for digital gold this year.

He reminded us of the trend logic: three years of growth are followed by a year of significant decline. The VanEck CEO considers the current situation a typical bear market but is confident that the asset is already forming a price bottom.

Debates continue in the crypto industry regarding the relevance of four-year cycles. Opponents of this theory argue that the market structure has changed, citing high demand for spot ETFs, a weakening US dollar, and positive regulatory shifts.

At the time of writing, Bitcoin is trading around $68,182. The asset has risen 3.3% in the last 24 hours and 8.1% over the week.

Price recovery coincided with escalating geopolitical tensions in the Middle East due to a conflict between Israel and Iran. Van Eck suggested that this tension has supported the price of digital gold.

In times of economic instability, cryptocurrencies allow for transferring funds outside traditional banking systems. Van Eck described the Middle East as a region friendly to digital assets, emphasizing that blockchain payments are much more efficient and reliable than outdated financial systems.

No Structural Reversal in Sight

Bitcoin's price behavior indicates a weakening of selling pressure. However, analysts from 10x Research warn that there are currently no signs of a breakout from the global bear trend.

They noted that digital gold has stopped declining amid negative news. The asset has maintained support at $62,500 after three tests.

The RSI indicator shows an upward trend, and the first cryptocurrency is attempting to hold above the 20-day moving average (around $68,500). Bollinger Bands are narrowing, indicating a potential expansion of the trading range.

Experts from 10x Research have observed a decrease in volatility, an influx of funds into ETFs, and the disappearance of the asset's discount on Coinbase. They described the current situation as a "tactical shift," emphasizing that a structural reversal has not occurred and Bitcoin remains in a bear market phase.

Justin d’Anetan, head of research at Arctic Digital, agreed that the crypto market's reaction to external events has become more measured. Potential tariffs, geopolitical tensions, and sustained high interest rates have not led to a price collapse.

According to the expert, sellers are exhausted, and buyers have begun to accumulate positions, creating conditions for asset consolidation.

Andri Fauzan Adziima, head of research at Bitrue, linked the recent price rebound from $63,000 to the derivatives market situation.

Negative funding rates led to a short squeeze—a mass liquidation of short positions. This temporarily eased pressure on the asset. Adziima added that for a confirmed upward trend, the market lacks new capital influx and macroeconomic drivers.

Retail Investor Pump

Analysts at Santiment believe that the price surge of Bitcoin close to $70,000 may have been a short-term pump driven by retail investors.

📈 As today's markets have rallied, social data indicated there was a huge surge in positive sentiment as Bitcoin's price was threatening to fall below $65K. Over the next 2 hours and 20 minutes, $BTC rallied +7% and reached $69.9K before running into $70K resistance for the time… pic.twitter.com/B3lWwtqABz

— Santiment (@santimentfeed) March 2, 2026

Experts noted a strong surge in positive sentiment on social media when the asset's price was at risk of dropping below $65,000.

In the following hours, Bitcoin gained 7%. The coin reached a local high of $69,900, where it faced selling resistance.

Analysts believe metrics indicate a potential limitation to the rally. Santiment also warned traders about the risks of sustained high volatility. Further price movement is heavily dependent on current global news and macroeconomic factors.

Recall that on March 1, analyst CryptoTalisman stated that Bitcoin has fully recovered from its decline amid geopolitical tensions.