March 10 News: As institutional funds flow back into the market, Bitcoin’s price has once again surpassed the $70,000 mark and is approaching a critical technical breakout zone. Data shows that Bitcoin has risen approximately 4.2% in the past 24 hours, with the latest trading price around $70,197. The market is closely watching whether its upward channel pattern can be effectively broken through.
From a technical perspective, after experiencing a rapid correction in early February, Bitcoin formed an ascending parallel channel on the daily chart. This pattern is generally seen as a bullish continuation structure. As long as the price remains between the two trend lines, the market may maintain an upward momentum. A breakout above the upper boundary of the channel often leads to further strengthening of price momentum.
Several technical indicators also show positive signals. Currently, the 20-day moving average is gradually approaching the 50-day moving average, nearing a “golden cross.” Meanwhile, the super trend indicator has turned bullish, indicating an improvement in the short-term trend. Traders are paying close attention to the key resistance level at $73,226, which coincides with the 50-day moving average. If the price breaks through and stabilizes above this level, the next target range could be around $86,500—an area that has served as important support multiple times earlier this year in January.
However, if the market pulls back and falls below $67,674 (the 20-day moving average), the current bullish structure could be broken, and the price may retest the psychological support near $65,000.
The recent upward momentum has been driven by inflows of institutional funds. According to data platform SoSoValue, in the past two weeks, the net inflow of U.S. spot Bitcoin ETFs has exceeded $1.35 billion. This is the first time since October 2025 that such products have experienced two consecutive weeks of net inflows. March also marks the first month in four months of fund outflows for these ETFs, returning to profitability.
Institutional buying is also coming from large corporations. Bitcoin holding company Strategy announced in its latest disclosure that it has added approximately $1.28 billion worth of Bitcoin, bringing its total holdings to about $56.04 billion. Continuous corporate-level purchases are considered an important factor supporting BTC prices.
With both capital inflows and technical pattern improvements, the market is reassessing Bitcoin’s short-term outlook. If the key resistance is broken, BTC could enter a new upward phase.
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