Bitcoin's price surged from just above $65,000 to nearly $69,000 within about an hour, wiping out roughly $80 million in short positions. Major altcoins also rallied, with ETH reclaiming $2,000, SOL approaching $90, and XRP and BNB gaining over 4% in the same period. The sharp move comes amid rising geopolitical tensions following US and Israeli strikes on Iran and ahead of a March 2, 2026 speech in which US President Trump is set to address the Iran conflict.

Strategy expanded its bitcoin treasury by 3,015 BTC, financed through a weekly capital raise combining $7.1M from STRC preferred stock and $229.9M from MSTR common shares. The firm paid about $204.1M at roughly $67,700 per BTC, bringing total holdings to 720,737 BTC at an average purchase price of $75,985.

Bitcoin is trading close to the $60,000 zone, where the average cost basis of investors who entered the market 18 to 24 months ago is now being tested. According to CryptoQuant, many of these midterm holders have slipped into unrealized losses, while longer-term investors remain in profit, creating conditions that have historically preceded major cycle turning points and potential price resets.

Strategy Inc. disclosed in a Form 8-K that it acquired 3,015 BTC between February 23 and March 1, 2026, lifting its corporate holdings to 720,737 Bitcoin. The company spent $204 million on this latest tranche at an average price of $67,700 per BTC and has invested a total of $54.77 billion in its Bitcoin treasury. It funded the move via an at-the-market equity program that raised $237.1 million and simultaneously raised the dividend rate on its Series A preferred stock from 11.25% to 11.50%.

DeepSeek, a prominent Chinese AI platform, has outlined a Bitcoin scenario in which early 2026 marks one of the cryptocurrency's most challenging stretches, with a potential drop toward about $41,000 before a recovery. After an accumulation phase and what it describes as a historically reflationary fourth quarter, the model envisions BTC trading around $100,000 by the end of 2026, following a decline from highs above $125,000 to roughly $66,013. The forecast also suggests that Bitcoin's low for 2026 may form in the second or third quarter before any strong rally takes hold.

The largest publicly traded corporate holder of Bitcoin has expanded its treasury, raising the cumulative value of its BTC acquisitions to about $54.77 billion at an average cost of $75,985 per coin. The firm continues to use a mix of debt and equity financing to build exposure, while its stock trades as a volatile proxy for Bitcoin amid broader market uncertainty heading toward 2026.

Following a sharp decline, Bitcoin remains in a corrective phase and is attempting to stabilize near $66,000 while trading below its 100-day and 200-day moving averages. On higher time frames, momentum is still bearish, with a key resistance trigger around $68,000 and important support zones near $62,000 and $60,000. A breakout from the current symmetrical triangle structure is likely to determine whether the market has formed a bottom or faces another downside leg.

CMT-certified analyst Tony Severino points to Bitcoin's monthly SuperTrend indicator as still signaling support, with BTC trading around the mid-$60,000 range. He notes that the one-month chart has not yet confirmed a sell signal, even after recent downside and a 14.8% drop in February from the monthly open. However, Severino cautions that past bear markets have often held this support for one to three months before breaking down and warns that historical Ichimoku data leaves room for a further 38% to 66% decline.