Bitcoin Holds Strong as Gold Stumbles — $70,000 Key Level Ahead
Bitcoin is showing resilience in a market where most assets are struggling. Over the past week, the world’s largest cryptocurrency gained about 3.5%, while gold, the traditional safe-haven asset, remained flat with a slight dip of -0.05%. This surprising divergence comes despite a stronger US dollar and rising oil prices, both of which usually hurt risk assets.
US Demand Returns
Fresh data shows that US investors are once again buying Bitcoin. The Coinbase Premium Index, which measures the price difference between Coinbase and other exchanges, turned positive in early March after nearly 40 days of negative readings. This signals renewed demand from American buyers.
ABSOLUTE BLOODBATH IN THE MARKETS.
Over 4.7 Trillion has been Wiped out from precious metals, crypto and U.S stock market in last 11 hours.
Gold is down 7%, wiping out $2.6 trillion.
Silver is down 12.3%, wiping out $610 billion.
S&P 500 is down 1.88%, wiping out $1.14… pic.twitter.com/BPoeYBUq49
— Bull Theory (@BullTheoryio) March 3, 2026
At the same time, technical charts show a bullish RSI divergence, a classic sign of potential reversal. Between late January and early March, Bitcoin’s price made lower lows, but the RSI indicator made higher lows. This pattern often points to a rebound.
Another strong signal comes from long-term holders. Glassnode data reveals that wallets holding Bitcoin for more than 155 days added over 27,000 BTC in early March, compared to just 3,399 BTC in early February. This sharp increase shows growing conviction among investors who typically buy and hold through volatility.
Gold Loses Shine
Gold, which surged above $5,400 recently, has since corrected by nearly 8% and now trades around $5,170. Despite geopolitical tensions and rising oil prices that should support gold, the metal has failed to maintain momentum. Bitcoin, on the other hand, is holding firm, raising questions about whether investors are rotating from gold into crypto.
The $70,000 Barrier
For Bitcoin, the $70,000 level remains the critical resistance. Every rally attempt since mid-February has failed to close above this mark. Analysts say a confirmed breakout could open the path toward $72,200 and even $74,900. On the downside, support lies near $67,200 and $65,400.
With US demand rising, long-term holders accumulating, and gold losing ground, all eyes are now on whether Bitcoin can finally break through the $70,000 barrier.
