Bitcoin (BTC) Riding a Bullish Wave: Will It Climb to the $80K Mark?

TheNewsCryptoPublished on 2026-03-04Last updated on 2026-03-04

Abstract

Bitcoin (BTC) has surged 6.76%, breaking past the $71,000 mark after opening the day at around $66,237. Trading volume is high at $62.28 billion, though the market shows signs of extreme fear. Technical indicators suggest strong bullish momentum: the MACD is above the signal line, RSI is at 67.41, and Bull Bear Power reflects strong upward pressure. Key resistance lies near $71.4K–$71.5K, while support sits around $71.2K. If bullish trend continues, BTC may target higher levels, though a pullback could test lower supports.

5% gain has been recorded in the last few hours within the crypto market. It has pushed the majority of the digital assets into bullish territory. The largest and dominant token, Bitcoin (BTC), has followed suit, registering a 6.76% surge in value. After multiple recovery attempts, the asset is finally on the way to reclaiming the recent highs.

BTC opened the day trading at a low of $66,237, and with a gradual bullish turn, the price moved up to a high of $71,886. Bitcoin is currently trading at $71,362, and the trading volume has reached $62.28 billion. Also, the BTC market has seen a liquidation of $201.34 million. Consequently, the asset’s Fear and Greed Index is at 10, reporting extreme fear.

With the 4-hour trading pattern, Bitcoin faces a bullish encounter. The price may rise to the resistance zone at $71.4K. Further gains on the upside could trigger the mighty bulls to invite the golden cross to unfold. The asset’s price would eventually climb to a high of $71.5K.

On the flip side, if the asset’s price chart turns red, it could slip to revisit the $71.2K support range. An extended correction on the downside might push the death cross to take place. Gradually, the potential bears would send the Bitcoin price toward the $71.1K or even lower.

Can Bitcoin’s Bullish Momentum Sustain in the Near Term?

BTC’s Moving Average Convergence Divergence line is found above the signal line, which hints at bullish momentum. This would remain valid as long as the MACD stays above, and then may continue trending upward. Moreover, the Chaikin Money Flow indicator of Bitcoin at 0.12 displays moderate buying pressure, with the money flowing in. This shows ongoing accumulation, and if CMF climbs higher, it can reinforce bullish momentum.

The daily Relative Strength Index (RSI) at 67.41 signals a strong bullish condition. With buyers firmly in control, Bitcoin may approach the overbought zone. Also, there is a chance that the asset is getting closer to a level where short-term consolidation could occur.

Furthermore, the Bull Bear Power (BBP) value of BTC at 4,467.51 reflects extremely strong bullish dominance. The asset’s price is trading significantly above its average level. It currently displays powerful upward momentum and strong demand in the market.

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While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. 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