Bitcoin hovered around the $70,000 level over the weekend and was about $70,360 at the time of writing, up 0.3% in 24 hours. On Saturday, March 21, analyst Ali Martinez said an on-chain "buy" signal had appeared as the Inter-Exchange Flow Pulse (IFP) crossed back above its 90-day moving average, a setup he linked to a potential rally.

Glassnode said in a March 20 X post that Bitcoin's recent attempt to shift into an expansion phase reversed after profit-taking intensified, as its NRPL (24h Moving Average) climbed to about $17 million per hour. The firm added that compressed "demand depth" amid geopolitical uncertainty has made the market less able to absorb large realization events, helping explain the drop below $70,000. Separately, analyst Darkfost noted that over 28,000 BTC were recently sent to exchanges, while BTC was last cited around $70,532.

Bitcoin held above $70,000 for the first time in nearly two months over the past week, but market nerves rose on Friday, March 20 amid expectations of possible US Federal Reserve rate hikes. An on-chain view argues BTC could still slide below $50,000, with analyst Ali Martinez pointing to an MVRV-based downside target around $43,000. At the time of writing, BTC traded near $70,477, up 0.6% in 24 hours.

Bitcoin recently failed to clear the $74,000 resistance and is now trading near $70,000 with limited bullish momentum. Analyst Ali Martinez highlighted on March 14 that the MVRV Z-Score, currently around 0.469 and historically important near -0.262, suggests the market could see further downside before a durable local bottom forms. Bitcoin is priced around $71,480, up over 1% in 24 hours and more than 6% over the past week.

On-chain metrics indicate that Ethereum is moving into an undervalued zone, with CryptoQuant analyst Burak Kesmeci highlighting an MVRV ratio of 0.9 as a sign that ETH is becoming relatively cheap. However, Kesmeci also points to the Realized Price Bands, suggesting Ethereum could still fall over 40% toward the lower band around $1,152 before the bear phase concludes. At the same time, prediction market data shows rising odds that ETH could lose its position as the second-largest crypto asset by market cap, even as its price trades near $2,090 with a valuation above $253.1 billion.

On Friday, March 13, Bitcoin again met resistance near $74,000 after trading in a consolidation band for about two weeks. On-chain URPD data shared by analyst Ali Martinez indicates BTC has entered a low-resistance zone, with few notable hurdles until roughly $82,045 and key support around $66,898. With Bitcoin hovering near $70,820 and up slightly over the last day and more than 3% in a week, a move to the $82,000 area would represent an advance of over 17% from the current level.

Over the past week, Bitcoin once again failed to break through the $74,000 resistance, even as broader financial markets remained unsettled. On March 13, on-chain data cited by analyst Axel Adler Jr showed the 30‑day average Bitcoin Fear & Greed Index sliding to 10%, a pessimism level last seen during the COVID-19 and Terra (LUNA) crashes. While BTC trades around $71,262 with a modest daily gain, historical patterns suggest such extreme fear has previously coincided with or preceded market bottoms.

On Saturday, March 7, Alphractal founder and CEO Joao Wedson highlighted $63,700 as a vital on-chain support level for Bitcoin, using a Fibonacci-adjusted Market Mean Price model. He warned that a drop below this zone could open a path to $57,000, $52,400, or even $48,700, implying nearly a 30% slide from the current price. Bitcoin is trading around $67,330, roughly 50% under its all-time high of about $126,080.

After a turbulent week, Bitcoin traded in a relatively narrow range over the weekend while its broader structure still resembles a bear market. An on-chain analyst highlighted that rising long-term holder active supply and a prior drop from about $95,000 to nearly $60,000 indicate the BTC price may remain vulnerable, despite short-term support around $60,000–$62,000 and a current level near $67,628.