In the dust‑blown lanes of the crypto frontier, Bitcoin tried to ford the $70,000 ravine twice this week. Both attempts were slammed by the kind of resistance one finds behind a rusted gate at a dry creek-pointed, sharp, and very, very volatile.
A recent AMBCrypto dispatch laid out why a short squeeze still glares like an outlaw on the horizon, even as geopolitics rattle the market’s campfire.
Volatility has risen to the heights it spanned back in 2022, and the short‑term holders are clutching their losses like a tired cowboy clutching a broken lasso. Might this be the wind that finally tires the sellers?
Hope for the long‑term Bitcoin ranchers
The ink spilled in 2026 counted five weeks with steady Bitcoin Spot ETF outflows, as pointed out by crypto chronicler Axel Adler Jr. Yet, once again, the ledger shows the numbers turning green.
That’s a welcome breeze in a barren desert. Yet, one bar on the stock chart may not be enough to lift the whole wagon front.
The weekly supply in loss climbed to 46.3%, spilling into the drawdown zone that’s been a flag for extreme market stress. No, it’s not a sign that the dust will settle faster.
It may take weeks, even months, before the number climbs to 60% or more, a threshold that has marked the bottoms of the last two bear seasons.
A steady green in ETF flow and a drop in supply loss would be the equivalent of the cattle raising their heads toward a better pasture.
Why the volatility shouldn’t scare short‑term buyers
Sure, macro conditions look like a herd of tigers in a windstorm. Still, Bitcoin has held its ground at $60k twice in the last month. Lately, it has carved higher footholds as it marched toward the $70k horizon.
Glassnode’s data tells us that the $70k level has been a wilderness of profit‑taking-much like a market where every trader yells “all‑in” before hitting the open bar, only to realize they got the wrong song.
The 7‑day moving average of the taker buy/sell ratio crept above 1 on 25 February and has trailed above 1 most of the past week. A small flock of optimism, but still far from a full splash of abundance.
A hike in Open Interest suggests the speculators are still eyeing a breakout past $70k, which, as of the last rain, hasn’t materialized yet.
There was a cluster of high‑leverage long liquidations from $65.2k to $67k-naturally, a pitstop in the market’s wetland. But the cumulative short liquidation leverage overhead touched the ceiling higher than the long side.
In plain talk, a price move in the right direction could snatch up those short liquidation pockets, turning the market into a textbook short squeeze on a stage set by the Wild West itself. The evidence leans toward a potential upward climb, but every seasoned rancher knows to keep the saddle fed.
Final Summary
- Motivated by geopolitical turmoil and rattled global markets, Bitcoin’s volatility has rattled its roots as high as it had seen since 2022.
- Supply in loss slid below 40%, revealing a lot of strain among BTC farmers, while ETF net flows saw their first green run.
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2026-03-04 10:00