Bitcoin Price Prediction: BTC Targets Breakout as ETF Inflows Return And Oil Fears Ease

Bitcoin price today trades near $70,776, up 3.43%, as easing geopolitical tension gives buyers enough cover to push the price back above $70,000. The macro backdrop shifted meaningfully overnight.

Oil prices, which had surged to nearly $120 a barrel on fears of prolonged Middle East supply disruption, sharply to around $93 after President Trump stated the Iran conflict would end very soon. or Bitcoin, which has traded in close correlation with broader risk assets throughout this downturn, the relief in energy markets removes one of the key headwinds that has weighed on price through early March.

The 30-minute chart shows Bitcoin forming a clean rising channel from the March 9 lows near $65,800, with price breaking above the Parabolic SAR at $69,456 and the key horizontal resistance at $69,500 that had capped multiple attempts over the past week. The Chaikin Money Flow sits at 0.11, holding positive territory and confirming that buying pressure is supporting the move rather than it being a low-volume drift.

Price is currently pressing toward the upper boundary of the rising channel near $72,000 to $73,000. A clean break above that zone with sustained CMF above zero would open the path toward the $73,165 50-day EMA on the daily chart, the next significant resistance level.

Key levels:

The daily chart puts the recovery in perspective. Bitcoin peaked near $126,000 in October 2025 and has since surrendered more than 40% of its value, with price spending the last several weeks compressing inside a demand zone between $60,000 and $65,000. The Bull Market Support Band sits at $84,738 to $86,705, far above current price, and reclaiming it would be the first real signal that the longer-term trend is turning.

The more immediate task is clearing the 20-day EMA at $68,721, which price has now broken above on an intraday basis. A daily close above that level, followed by a test of the 50-day at $73,165, would represent the most meaningful technical progress BTC has made since the November breakdown began.

US Bitcoin spot ETFs $167.03M in net inflows on March 9, snapping a streak of heavy outflows that included $348.83M leaving on March 6 and $227.83M on March 5. BlackRock’s IBIT led with $109.31M in a single day, confirming that institutional demand is returning at current price levels rather than waiting for further downside.

Cumulative net inflows across all US Bitcoin spot ETFs now stand at $55.54B, with total net assets at $88.34B representing 6.41% of Bitcoin’s total market cap. The return of positive daily flows after a brutal outflow week is a meaningful shift in institutional sentiment that the chart alone would not capture.