Bitcoin is knocking on $72,000’s door — and it’s not being polite about it. The world’s largest cryptocurrency climbed over 4% on March 4, 2026, hitting an intraday high of $71,890 before pulling back to around $71,000. By 9:15 a.m. Eastern Time, it was sitting at $71,680.30, up $4,561.50 from the previous day. That’s the strongest level in nearly a month.
Meanwhile, Asian stock markets are melting down. And somehow, Bitcoin is surging. Funny how that works.
Asian markets are bleeding. Bitcoin is ripping higher. The correlation traders swore by just took the day off.
The $72,000 level isn’t just a round number. It’s a well-established resistance zone. There’s also a Head and Shoulders neckline sitting right there on the higher timeframe charts. That’s a big wall. Breaking through it cleanly could open the door toward $74,000 to $76,000, with the upper Bollinger Band sitting at $76,034 as the next major ceiling.
Some analysts see a recovery toward the 50-day EMA on a confirmed $72,000 break.
Prediction markets aren’t exactly sweating it, either. Contracts for Bitcoin hitting $72,000 or above by 6 p.m. EST on March 4 were trading at 99 cents. Almost a sure thing, according to the crowd. Roughly 50% odds of staying above $72,000 through March. Standard Chartered revised its Bitcoin forecast to 150,000 for 2026, down from an earlier projection of $300,000.
The bullish case gets wilder from there. Primary scenario targets $110,000 to $120,000. Secondary scenario? $140,000 to $150,000. Bit Mining threw out a range of $75,000 to $225,000 for all of 2026. By 2030, some experts are calling $300,000 to $700,000. VanEck’s long-term target is $2.9 million by 2050. Sure, why not.
But the bears aren’t dead. If Bitcoin fails below $66,511, the next test is $65,376. A break there sends it toward the lower Bollinger Band at $62,581.
And there’s a measured-move target of $44,000 if it can’t hold above $72,000. Long-term holders are selling. Macro headwinds are real.
Worth noting: Bitcoin is still $15,500 below where it was at this time last year. And the all-time high of $126,198.07, set on October 6, 2025, feels like a distant memory. Bitcoin’s value has increased over 15,000% in the last decade, underscoring just how far this asset has come even when current prices feel disappointing against recent peaks. Part of what continues to underpin investor confidence is Bitcoin’s limited supply of 21 million coins, a hard cap that distinguishes it from every fiat currency on the planet.
