On 4 March 2026, Bitcoin briefly neared $74,000, trading around $73,651 after gaining more than 7% in 24 hours, while the broader crypto market value moved past $2.5 trillion. Major altcoins also advanced, with Ethereum close to $2,177 and Solana above $92, even as key sentiment gauges continued to signal extreme fear.

From February 28, when Donald Trump authorized Operation Epic Fury’s first strikes, bitcoin has risen 12.1% from $65,492 to $73,419 while crude oil climbed 10.4% and gold fell 3%. Over the same four-day window, silver dropped 10.2%, the S&P 500 slipped 0.1%, and Nvidia gained 2.8%, leaving BTC as the standout performer among large assets during the opening days of the US-Israel war with Iran.

Bitcoin has moved back above $73,000 for the first time since early February, with on-chain analyst Ali Martinez suggesting the move could evolve into a relief rally. Spot Bitcoin ETFs reportedly absorbed about $776 million in BTC last week and roughly $789 million since the week starting March 2, helping to support the price near $73,200. Martinez notes that on-chain resistance looks relatively light between $72,000 and $81,000, with stronger supply clusters only emerging around $83,307 and $84,569.

Bitcoin climbed to a new monthly high above $73,000 after initially dropping to $63,000 when USA and Israel launched a military operation against Iran on Saturday. The price has since recovered more than $10,000, with analysts pointing to aggressive whale buying and a strong breakout, while warning that a fall below roughly $71,500–$72,000 could signal renewed weakness.

On Tuesday, Morgan Stanley submitted an amended S-1 to the SEC for its proposed bitcoin exchange-traded product, designating Coinbase Custody and Bank of New York Mellon as fund custodians. The filing also assigns BNY Mellon several administrative roles and appoints Coinbase as prime broker, as the trust aims to mirror the spot price of bitcoin.

Bitcoin rebounded from about $63,000, reached after weekend US and Israeli strikes on Iran, and pushed toward $73,000 alongside a broader improvement in risk appetite. Over the past two days, US spot Bitcoin ETFs have recorded more than $680 million of net inflows, while rising crypto stocks and steadier oil prices have supported the move.

Bitcoin climbed to a monthly peak near $73,019 during the latest Wall Street open, but technical signals suggest the bear market risk remains. Analyst Keith Alan highlighted that a weekly death cross between the 21-week and 100-week moving averages is likely to print next week, which could precede another leg down unless a strong bullish catalyst emerges.

On March 4, Morgan Stanley updated its Form S-1 for the Morgan Stanley Bitcoin Trust, designating Coinbase Custody and BNY Mellon as its key custodial partners. The bank plans to run the spot Bitcoin ETF similarly to a traditional ETF structure, using cold storage for Bitcoin and providing custody insurance while sharing some liabilities with customers.