Bitcoin experienced a significant rally this week, briefly surpassing $73,000 and currently trading around $72,500 as of March 6, 2026. This surge is fueled by robust inflows into US spot Bitcoin ETFs, totaling $1.1 billion over three days and reaching approximately $700 million year-to-date, reversing a previous five-week outflow streak. BlackRock’s IBIT continues to lead inflows, with substantial contributions from Fidelity and Grayscale. Ethereum ETFs also saw positive inflows of $169 million. Adding to the bullish sentiment, President Donald Trump publicly advocated for the swift enactment of the CLARITY Act and criticized banks opposing yield-bearing stablecoins, boosting market confidence. However, analysts caution that holding the rally requires Bitcoin to establish $70,000 as support, with potential resistance around $75,000. A failure to hold above $70,000 could lead to a decline towards the $60,000-$69,000 demand zone. The Coinbase premium indicator signals strong demand from US institutional investors.
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