Bitcoin enters a period of high volatility as the $70,000 resistance level is tested following a shift in intraday trading patterns.
TLDR
- Bitcoin reached an intraday high near $70,000 on February 26, 2026.
- Data shows a 5% price appreciation for BTC within a 24-hour window.
- The established 10 a.m. ET sell-off pattern failed to materialize.
- Ethereum and Solana recorded double-digit percentage gains.
- Positive spot ETF inflows correlate with the recent upward momentum.
- Market participants link the price action to legal proceedings against Jane Street.
Bitcoin reclaimed the $70,000 price point following a period of sustained downside pressure. The asset climbed from a localized low of $64,758 to trade between $68,500 and $69,000. This volatility expansion occurred alongside a 10% to 16% appreciation in high-beta assets.
Ethereum (ETH) recorded gains between 10% and 13% while Solana (SOL) exceeded 15%. This rotation into altcoins indicates a shift in risk appetite among market participants. The total cryptocurrency market capitalization expanded as trading volume increased.
Institutional Activity and ETF Flows
Institutional data indicates that spot ETF inflows returned to positive territory. This shift in liquidity suggests a stabilization of sentiment among high-net-worth entities. Trading volume increased as the market bypassed previous resistance zones.
BlackRock’s IBIT and other spot products show increased absorption of sell-side pressure. The market transition from the mid-$60,000 range signals a shift in demand. Capital inflows from institutional desks provide the primary support for this move.
The Jane Street Litigation and Trading Patterns
A primary driver for the price action is the cessation of the 10 a.m. ET liquidity drain. This recurring downward pressure stopped after a lawsuit was filed against Jane Street. The legal action involves allegations of insider trading related to the 2022 Terra collapse.
The administrator for Terraform Labs claims Jane Street used non-public information. The suit alleges the firm unwound positions before the ecosystem depegged. Market observers recorded the immediate halt of the morning sell-off pattern.
Evidence suggests that the removal of this intraday selling pressure allowed for price discovery. Traders observed a break in the trend immediately after the legal news became public. The correlation between the lawsuit and the price appreciation is under observation.
Technical Analysis and Resistance Levels
Technical indicators suggest $70,000 remains a critical threshold for BTC’s future price direction. A confirmed move above this level targets the $73,640 zone by early March. Failure to maintain current support levels will lead to a retest of the $67,000 range.
The market remains in a state of elevated volatility following the bounce. Short-term relief moves are distinct from long-term trend reversals in this environment. Traders are monitoring the $68,500 support level to confirm the strength of the rally.
Short-selling liquidations contributed to the speed of the upward move. Data from derivatives exchanges shows a contraction in open interest for downside bets. The resulting squeeze forced buy-backs that pushed the price toward the $70,000 mark.
Global Macro and Equity Correlation
Broader market conditions support the current appreciation in digital assets. Improved sentiment in the equities market is tied to upcoming technology earnings. NVIDIA and other high-growth stocks show a high correlation with Bitcoin price action.
Macroeconomic uncertainty persists, but has not impeded this localized recovery. The market is currently reacting to specific industry developments and legal news. These internal catalysts are outweighing external economic pressures at this time.
Current market conditions are defined by a transition from depreciation to a relief rally. The sustainability of this move depends on continued ETF absorption and macro stability. Market participants are monitoring the $70,000 pivot to determine the next trend phase.
Price stability at these higher levels is required to confirm a change in market structure. Volume profiles indicate a concentration of interest at the $69,000 level. Market liquidity remains sufficient to support the current volatility expansion.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are volatile, and readers should conduct their own research before making financial decisions.
Pijus Paul is the Founder and Lead Cryptocurrency Market Analyst at Cryptowealthnet. He specializes in Bitcoin and altcoin price predictions supported by technical analysis, market cycle evaluation, and risk-managed scenario planning. His price forecasts emphasize probability, structure, and disciplined strategy rather than speculation.
