Crypto markets bounce back: Bitcoin reclaims $74,000, Ethereum nears $2,200

The cryptocurrency market saw renewed buying interest on March 5, with Bitcoin and several leading altcoins continuing their upward movement. The leading digital asset briefly crossed the $74,000 level and remained above $72,000, supported by fresh institutional demand.

Market analysts noted that strong inflows into U.S. spot Bitcoin ETFs and growing risk appetite among investors have contributed to the recovery in digital assets. Alongside Bitcoin, major cryptocurrencies such as Ethereum, BNB, Solana, and XRP also recorded gains.

According to the CoinSwitch Markets Desk, the recent price surge has been largely driven by significant inflows into spot Bitcoin ETFs and rising institutional participation. Despite ongoing geopolitical tensions and macroeconomic uncertainty, many investors continue to diversify their portfolios by allocating funds to digital assets alongside traditional safe havens like gold.

However, analysts warn that overall market sentiment remains cautious. Although Bitcoin has rebounded more than 20% from its February low near $60,000 and altcoins have followed a similar trend, a considerable share of the circulating supply is still held at a loss, which may trigger selling pressure in the market.

Riya Sehgal, a research analyst at Delta Exchange, pointed out that roughly 43% of Bitcoin’s supply remains underwater. She added that derivatives market data indicates traders are still hedging against potential downside risks.

Meanwhile, Vikram Subburaj, CEO of Giottus, explained that the simultaneous rise in Bitcoin and major altcoins suggests that the current rally is being fueled by broader market risk appetite rather than isolated sector-specific developments.

He also highlighted that traders are closely monitoring upcoming U.S. economic indicators. Key events include the February U.S. Employment Situation report on March 6, the Consumer Price Index (CPI) release on March 11, and the upcoming meeting of the Federal Open Market Committee scheduled for March 17–18. These events could influence global financial markets, including cryptocurrencies.

Bitcoin regains $74,000 level

At the time of reporting, Bitcoin was trading around $72,749, reflecting a 7.35% gain over the previous 24 hours, according to CoinMarketCap. Its daily trading volume stood at approximately $73.62 billion, with price fluctuations between $67,704 and $74,051 during the same period. Despite the recovery, Bitcoin remains about 42% below its all-time high of $126,198 recorded on October 7, 2025.

Subburaj noted that the $72,000 level is emerging as an important short-term support zone. Maintaining prices above this threshold could allow Bitcoin to test resistance levels in the mid-$70,000 range. However, a stronger demand area still exists between $60,000 and $69,000, where buyers previously stepped in during market corrections.

Sehgal added that a decisive breakout above the $76,000–$78,000 range—close to the average purchase price of large holders—could signal stronger bullish momentum. Continued institutional inflows combined with sustained price movement above the mid-$75,000 level may push Bitcoin toward the $78,000–$80,000 range, though market volatility could remain due to macroeconomic factors.

Ethereum maintains strength above $2,100

At the same time, Ethereum also showed renewed strength, briefly nearing the $2,200 mark. The asset was trading around $2,138, up roughly 9% over the past 24 hours, with a trading volume of $33.34 billion. During the day, Ethereum moved between $1,956 and $2,198. Despite the recent recovery, the cryptocurrency remains more than 57% below its record high of $4,953 reached on August 25, 2025.

Sehgal mentioned that Ethereum’s move above short-term technical averages is a positive sign, though significant resistance still lies ahead. She emphasized that the $2,200–$2,300 range remains a crucial barrier that the asset must overcome to sustain further upward momentum.

Voice Of Osiz

The renewed momentum in the crypto market highlights the growing confidence investors have in digital assets as institutional participation continues to rise. With Bitcoin reclaiming key price levels and major assets like Ethereum gaining traction, the market signals a strong phase of technological and financial evolution. Institutional inflows and expanding ETF adoption are playing a crucial role in strengthening market stability. At the same time, upcoming global economic indicators may shape the short-term direction of crypto assets. From our perspective, this trend reinforces the importance of robust blockchain infrastructure and scalable platforms to support the next wave of innovation. Businesses and investors must stay prepared for both opportunities and volatility as the digital economy matures. At Osiz, we believe this momentum will further accelerate the adoption of blockchain-powered financial ecosystems.

Source: Business Standard