Over course of week, crypto market rebounded above $70,000 mark for Bitcoin

13.03.2026    19:44

This week was marked by high volatility for the crypto market, but by the end of the week, digital assets had managed to recoup a significant portion of their losses. As of Friday, Bitcoin was trading around $71,530, having risen to $73,900 during the day. Ethereum held steady at $2,120, with an intraday high of $2,200. This indicates that following a nervous reaction to the escalation in the Middle East, the market has once again shifted to a rebound.

The main external driver of the week remained the conflict surrounding Iran. Oil jumped to $119.5 per barrel at the start of the week, and by Friday, Brent was hovering around $100, which intensified fears of a new inflationary cycle and a deterioration in global risk sentiment. Against this backdrop, the crypto market initially traded like a classic risk asset but then began to appear more stable than stocks and a number of other volatile instruments.

According to Fixygen analysts, institutional flows provided support to the market. According to CoinShares, digital investment products attracted $619 million in the week ending March 9, with nearly all of the positive momentum coming from the U.S. Bitcoin accounted for $521 million in net inflows, Ethereum for $88.5 million, and Solana for $14.6 million, while XRP, conversely, saw a notable outflow of $30.3 million. A week earlier, the market had already seen $1 billion in inflows following five weeks of outflows, indicating a gradual return of demand after February’s correction.

However, the week’s performance was uneven. CoinShares notes that in the first three days, investors poured $1.44 billion into digital assets, but then on Thursday and Friday, outflows of $829 million occurred due to a spike in oil prices. In other words, the market remains extremely sensitive to macroeconomics: as soon as traders again saw the risk of higher inflation and tighter interest rate expectations, appetite for crypto assets immediately deteriorated.

From a fundamental perspective, the week was largely neutral to positive. On the one hand, expectations remain that the U.S. ETF market will continue to gradually expand institutional capital’s presence in cryptocurrencies. On the other hand, difficulties have resurfaced in the U.S. regarding a key bill to regulate the crypto market: negotiations have stalled due to a dispute between banks and crypto companies over the future model for stablecoin products. This means that the market continues to receive support from capital but lacks full regulatory clarity.

In the short term, the market looks like this: Bitcoin has once again consolidated above the psychological $70,000 mark, and Ethereum is holding the $2,000 range. This is a good sign following the nervousness of February and March. But if the oil shock drags on and inflationary pressure intensifies, cryptocurrencies could quickly return to a mode of sharp sell-offs. For now, the week has largely ended in favor of the bulls: institutional money has returned, Bitcoin has rebounded, and the market has shown that even against the backdrop of war and high oil prices, it is not yet ready to enter a full-blown capitulation phase.

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