Bitcoin Reclaims $70,000 as Trump Backs Digital Asset Market Clarity Act, Briefly Touches $74,000

Bitcoin (BTC) climbed back above $70,000 within the past 24 hours and briefly touched $74,000 on March 5, 2026, as U.S. President Donald Trump voiced support for the Digital Asset Market Clarity Act, according to the report. The policy-driven shift in sentiment coincided with more than $500 million in short positions being liquidated in the derivatives market, while the 10-year U.S. Treasury yield stood at 4.11% and the U.S. Dollar Index at 98.813. BTC staged a sharp V-shaped rebound from a recent low of $63,000 to above $72,000, with short-term resistance now seen in the $74,400–$75,000 range and the 4-hour RSI around 53.18. Ethereum (ETH) rose about 8% to reclaim the $2,000 level and trade near $2,129, supported by a $129 million buy wall around $1,980, as around 3.4 million ETH remain queued for staking with an estimated 60-day wait time.