According to Axel Adler Jr., the last active sell-side risk alert appeared in December 2024 at $107K and has remained off for 449 days, while a sustained Accumulation Signal has been active since January 18, 2026. The Rolling Mean Sell-side Risk Ratio has dropped to 1,913, a level historically seen in bear markets, even though spot prices are around $67K-$72K. This combination suggests seller activity is depressed and the market is in an accumulation phase, with the main risk being extended consolidation without a strong price catalyst.

Around 27,000 Bitcoin options contracts with a notional value of about $1.9 billion are expiring on Friday, March 13, alongside a rebound in spot crypto prices. Open interest in BTC and ETH options has climbed, while overall crypto market capitalization has returned to $2.5 trillion with Bitcoin nearing $72,000 and altcoins mostly advancing.

Bitcoin is trading above $70,000 and the 100-hour simple moving average after rebounding from the $68,971 swing low. The BTC/USD pair is consolidating below $71,750–$72,000 resistance, with potential upside targets at $73,200–$75,000 if buyers break higher, while supports sit at $70,400, $70,000 and down to $66,500.

CryptoQuant's Bitcoin Bull Score Index has climbed to 30, signaling that while bearish conditions remain, they are no longer at their most extreme. The index, based on ten on-chain and market indicators, had previously fallen to zero before partially recovering as exchange flows, stablecoin liquidity growth, and price momentum turned bullish. Bitcoin's price has also bounced back above $70,000 after briefly dropping below $66,000 over the weekend.

In comments reported by CNBC, VanEck's Matthew Sigel said Bitcoin miners already control power infrastructure that AI data centers may spend years trying to build, leaving the market yet to fully value this asset. Public mining firms are targeting an increase from 7 GW of capacity to 20 GW by 2027, while some listed players like MARA and Core Scientific are redirecting sites and financing toward AI infrastructure. Sigel argued that miners still trade at a steep discount to traditional data center stocks on a market-cap-per-megawatt basis, even as AI-related demand grows sharply.

Bitcoin is trading close to $70,000 while on-chain data shows exchange reserves have fallen by about 204,000 BTC since the start of the year and long-term whales are barely moving coins. Short-term holders are selling at a loss and newer whales remain underwater, a divergence analysts say could tighten supply and influence whether the next phase is bullish or bearish.

Executives at Coinbase have publicly denied accusations that the exchange lobbied against a de minimis tax exemption for small Bitcoin transactions while supporting tax relief for US dollar-pegged stablecoins. Brian Armstrong and other senior leaders said they have backed efforts to secure a BTC exemption, even as current proposals in Congress would limit such relief to stablecoins.

Analysts warn that mounting stress in the $2 trillion private credit sector, driven by rising defaults and redemption limits, could force investors to dump liquid assets such as Bitcoin to raise cash. Historical episodes like the March 2020 crash and the March 2023 banking turmoil show that initial BTC sell-offs have been followed by strong rallies when the Federal Reserve injects liquidity and eases policy.