TLDR
- Bitcoin briefly touched $75,991 before pulling back to around $74,291 on Tuesday
- Spot Bitcoin ETFs recorded six straight days of inflows, totaling $962.8 million since March 9
- A wave of short liquidations — $485.6 million in 24 hours — helped push the price higher
- Geopolitical tension between the U.S., Israel, and Iran is keeping market sentiment fragile
- Investors are now watching the Federal Reserve’s rate decision due Wednesday
Bitcoin has had a volatile few days. The cryptocurrency climbed to as high as $75,991 before pulling back to trade around $74,291 as of early Tuesday morning.
The move came alongside a massive wave of short liquidations, with roughly $609 million in total crypto liquidations recorded in the past 24 hours. Of that, $485.6 million came from short positions, according to data from Coinglass.
Analysts say the squeeze pushed prices higher quickly. But some are skeptical it will last.
“Squeeze-driven moves are typically short-lived without sustained real demand, likely fading from days to a couple of weeks,” said Dominick John, analyst at Zeus Research.
ETF Inflows Provide Underlying Support
Despite the uncertainty, spot Bitcoin ETFs have shown steady demand. Monday marked the sixth straight day of inflows into U.S.-listed Bitcoin ETFs, with $199.4 million added in a single session.
BlackRock’s iShares Bitcoin Trust (IBIT) led the way with $139.4 million. Fidelity’s Wise Origin Bitcoin Fund added $64.5 million.
Since March 9, total net inflows into these products have reached $962.8 million. Over the same period, Bitcoin has gained 12.5%, rising from $65,960 to around $74,250.
Analysts at Presto Research pointed to these inflows, combined with continued corporate buying, as key drivers behind the move. U.S. spot Bitcoin ETFs also saw $767.3 million in net inflows last week, a third consecutive week of positive flows.
Macro Factors Remain in Focus
The ongoing conflict involving the U.S., Israel, and Iran has weighed on investor sentiment. Oil prices climbed back above $100 per barrel on Tuesday, with Brent crude at $103 and WTI at $96.03.
Higher energy prices have raised inflation concerns, which in turn affect how investors position across all assets, including crypto.
On Monday, President Trump called on other countries to help address disruptions in the Strait of Hormuz. Iran had curtailed shipping through the route, which carries around one-fifth of global oil supply.
🌏 With continued rumors swirling about the progress of the Iran, Israel, and US conflict, Bitcoin has jumped above $74.4K for the first time in 6 weeks. This bullish momentum has been enough to push FOMO to its highest level since January 2nd.
🥳 According to Monday's social… pic.twitter.com/C00awVqBWI
— Santiment (@santimentfeed) March 16, 2026
Blockchain analytics firm Santiment noted that rumors of diplomatic progress between the U.S., Iran, and Israel contributed to Bitcoin pushing above $74,400 for the first time in six weeks.
The Crypto Fear & Greed Index moved up five points to 28 on Tuesday, exiting “Extreme Fear” territory for the first time since late January.
The Federal Reserve is set to announce its rate decision on Wednesday. Markets widely expect no change to rates, but traders are closely watching comments on inflation.
Spot Ethereum ETFs also saw $160.8 million in inflows last week, as ETH rose 3.28% to $2,315.
