What to know:
- Bitcoin stabilizes around $70K, but spot demand remains weak.
- Short-term holder supply above $84K could amplify sell pressure.
- ETF inflows and options expiries may guide near-term market moves.
Bitcoin has found a temporary floor around $70,000, supported by easing sell-side pressure and early signs of ETF inflows.
According to the Glassnode report, the asset has continued to form higher highs and higher lows since early March, trading within a $60K–$70K range. This movement suggests a cautious market attempting to rebuild a foundation for a longer-term uptrend.
However, despite this stability, the overall spot market volume still remains low. The exchange rate experiences small bumps, indicating selective dip buying, as opposed to a general increase in confidence.
According to analysts, ETFs are showing a small increase in flow, though overall demand still does not indicate a robust increase in prices.
The short-term holders’ cost basis heatmap indicates that the recent purchases are centered around $70.2K, which creates support, and supply above $84K could easily drive prices higher if it reaches that level.
Source: Glassnode
Also Read: US Government Shutdown Nears End: Bitcoin Price Recovers After House Approval
Bitcoin Mid-Term Structure: Support and Resistance
The midterm perspective depends on the behavior of investors over a certain period. Coins held for a week to a month will be around $70.2K, establishing a new support level.
Coins held for 1-3 months will be around $82.2K, establishing a resistance point. This establishes a likely path for the next few weeks.
Source: Glassnode
On-chain profit metrics show the market is still cautious. Realized profit has been decreasing from $3 billion per day in July 2025 to less than $0.1 billion per day.
This shows less liquidity and new buying pressure. Unrealized losses remain high at over 15% of the market cap. This shows fear is still present, but not a complete collapse.
Source: Glassnode
Options and Institutional Flows Set the Tone
Derivatives markets and ETFs are now impacting BTC’s short-term price action. The funding rate of perpetual futures remains negative, indicating that there are more short positions open.
Source: Glassnode
At the same time, the options market indicates that traders are looking to protect against potential downside, as the 25 delta skew is at 10%-12%.
The skew itself, however, indicates that the upside is slightly more valued in longer-term options, suggesting that traders are mildly hopeful about the price action.
Source: Glassnode
Institutional participation is starting to pick up. Spot ETF inflows in the US after weeks of selling are small but positive, suggesting that traditional investors are starting to take notice.
In addition, the upcoming options expiry on March 27th for weekly, monthly, and quarterly options will take out $10 billion worth of dealer short gamma.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Bitcoin Price Stabilizes Near $70.7,00 and Support Zone Holds, $65,000 Possible
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