Bitcoin rises to $ 70,000

On Tuesday, March 10, bitcoin BTC $70,709.87 Mezo Wrapped BTC 4.26% Market capitalization $38.91 million VOL. 24 hours $2.16 billion exceeded the $ 70,000 mark again, recovering its position after the initial slump. The movement of quotations coincided with a decline in the price of oil to $ 93 and a rise in stock indices, which emphasized the stability of the cryptocurrency amid volatile commodity markets.

According to market maker Enflux, bitcoin «easily weathered» oil fluctuations and held its ground better than traditional stocks. Institutional demand remains a key driver: investors invested about $ 568 million in spot bitcoin ETFs in the United States over the past week, and total revenues exceeded $ 55 billion.

Glassnode analysts note the stabilization of the industry: demand for funds is growing, and profitability is returning. On the Polymarket platform, the probability of reaching $ 75,000 by the end of March rose from 34% to 55%, which indicates market optimism despite weak macroeconomic data from the United States.

Altcoins also showed positive dynamics. Ethereum rose to $ 2046 (2.8% per day), Solana — to $ 86.49 (3.4%), BNB — to $ 644 (3.4%), XRP — to $ 1.38 (2.3%). Experts emphasize that Ethereum needs to gain a foothold above $ 2500 to confirm a stable trend.

At the same time, the derivatives market is going through a phase of large-scale deleveraging: the leverage ratio on Binance has decreased from 0.198 to 0.152. This indicates a reduction in margin positions and a shift in focus to the spot segment. Analysts emphasize that the reduction in the share of borrowed funds is improving the industry and creating the basis for a new trend.