2026-03-05 06:13:14

March 5 Afternoon BTC Market: The 74,000 Rally Is a Bounce, Not a Reversal

The Strait of Hormuz blockade has entered its fourth day, with ongoing escalation in geopolitical conflicts and no signs of easing. This remains the core fundamental factor in the current market.

Yesterday, BTC (Bitcoin) showed strong upward momentum starting from the European trading session and continued to break through into the evening before the US stock market opened. Previously, US stocks experienced a sharp decline on March 3rd due to a market overshoot, but last night they opened high and moved higher, recovering the previous day's losses. As a result, BTC briefly surged to the 74,000 USD resistance level before pulling back slightly. The market saw a strong rally of about 7,000 points yesterday, followed by a correction of 2,000-3,000 points, which is a normal technical correction.

BTC Trading Suggestions:
- Long Entry Range: around 71,200-71,800
- First Target: 73,200, with a breakout aiming for 74,000-75,000 USD

BTC3,75%

ETH4,52%

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