Bitcoin hovered close to $70,000 into Thursday's Wall Street open after United States jobless claims aligned with market expectations and followed flat Consumer Price Index data. Oil prices remained volatile, climbing more than 5% intraday despite news of a 400 million barrel reserve release and ongoing uncertainty over the Middle East conflict. Traders highlighted key BTC levels around $72,000, $68,000 and $62,000, while derivatives pricing implied less than a 1% chance of a Federal Reserve rate cut at the March 18 meeting.

Bitcoin traded around $70,000 on Wednesday as traders focused on whether this level can hold as support and potentially open a path toward the high $70,000 to low $80,000 area by the end of March. Multiple analysts highlighted nearby liquidity zones between $64,000 and $76,000, while rising Bitcoin futures open interest signaled the possibility of a highly volatile trading environment in the coming weeks.

Bitcoin climbed to a local high above $71,500 during Tuesday's U.S. session, mirroring a relief rebound in major stock indexes. Traders highlighted downside liquidity around $68,000 and resistance at the 50-day simple moving average near $73,640 as key levels that could attract renewed selling pressure.

Bitcoin entered the second week of March under pressure after failing to hold the $74,000 breakout and closing below the 200-week EMA, while traders tracked escalating tensions in the Middle East and a sharp oil price spike. The ongoing supply shock around the Strait of Hormuz, combined with upcoming US CPI, PCE and GDP data, has raised concerns about inflation and Federal Reserve policy as multiple Bitcoin death crosses emerge on higher and lower time frames. Derivatives metrics and exchange inflow patterns, however, suggest whales have reduced profit-taking above $70,000 and some analysts see conditions forming for a potential relief move.

Into Sunday's weekly close, Bitcoin traded below its 200-week exponential moving average near $68,310, keeping that long-term trend line at risk of turning into resistance. Some traders warned that a candle close under this level could lock in bearish structure, while others pointed to potential support around $65,000–$60,000 and tracked gold and oil moves as possible triggers for a rebound.

On Wednesday, roughly 32,000 BTC worth about $2.26 billion flowed out of exchanges, with on-chain analysis linking the bulk of the move to Bitfinex. The outflow, described as anomalous, is being interpreted by analysts as a potential large spot purchase and early sign of renewed accumulation around the $70,000 price area.

Bitcoin climbed to a monthly peak near $73,019 during the latest Wall Street open, but technical signals suggest the bear market risk remains. Analyst Keith Alan highlighted that a weekly death cross between the 21-week and 100-week moving averages is likely to print next week, which could precede another leg down unless a strong bullish catalyst emerges.

On Tuesday, Bitcoin fell about 3% and slid back from the $70,000 mark as the closure of the Strait of Hormuz triggered fears over oil supplies and inflation across global markets. Stocks, oil and gold all saw heightened volatility, with gold retreating toward $5,000 support while BTC failed to turn key trend lines into support. Some traders argued that bears remain in control, while others highlighted Bitcoin's smaller drawdown versus major precious metals and viewed the lower end of its current range as a potential buying zone.

After the Wall Street session opened on Monday, Bitcoin climbed toward $70,000, gaining more than 5% and reaching its highest level since Feb. 25. The move followed a stronger-than-expected US manufacturing PMI reading above 50, which signaled renewed industrial expansion and helped overshadow worries linked to Middle East tensions, even as US equities struggled.