Bitcoin peaked slightly above $126,000 in October 2026 and has fallen by more than 40% since then, repeatedly dipping below $70,000 and raising concerns about a potential bear-market phase. Despite the drawdown, a set of 30 bull-market peak signals tracked on Coinglass has not triggered, with some measures showing late-cycle progress but still short of their historical peak conditions.

The UK government has announced it will prohibit cryptocurrency donations to political parties and other regulated organisations, citing national security and traceability concerns. It is also introducing a £100,000 annual limit on contributions from overseas electors, aiming to curb foreign influence and ensure donation sources can be clearly verified.

On March 25, Prime Minister Keir Starmer said the UK would impose an immediate moratorium on cryptocurrency donations to political parties, while also adding a £100,000 annual cap on donations from British citizens living abroad. The government plans to amend the Representation of the People Bill so parties must return any crypto received since March 25 within 30 days once the law passes, or face criminal penalties. In the US, lawmakers introduced the PREDICT Act to restrict senior officials and their families from trading political-event prediction markets, with proposed penalties including 10% of transaction value plus disgorgement of profits.

Bitcoin traded under $70,000 after a 1.6% drop over 24 hours, following a rebound to $71,200 the prior day. Coinbase Premium fell to its most negative level in over a month and spot volume sank to 2023 lows, while March Bitcoin ETF net inflows totaled $1.53 billion but slowed sharply after the first two weeks. The analysis outlines a base range of $69,000–$74,000, a potential move toward $80,000–$85,000 if conditions improve, and a bearish path toward $62,000 if support breaks.

Bitcoin fell back below $70,000 and printed an intraday low of $69,914.54 after trading above $71,000 earlier in the week following talk of a truce proposal to Iran by US President Donald Trump. On-chain indicators cited by CryptoQuant show cooling usage—fewer active addresses and transactions—while key levels highlighted include support at $69,423 and resistance around $71,645.

Crypto analyst Benjamin Cowen said in a March 26, 2026 video that Bitcoin (BTC) may face another sharp move lower sooner than many expect. He argued that comparisons to Bitcoin's March-style recovery are misplaced, and pointed instead to 2022-like behavior where price failed to reclaim the 21-week EMA. Cowen also questioned whether $60,000 will hold as solid support, citing weekly RSI, MVRV Z-score, and realized price levels as not yet aligning with typical bear-market bottom zones.

Santiment says Bitcoin's Whale Transaction Count has recently fallen, indicating reduced activity from large holders. The metric tracks daily BTC transfers above $100,000 and is now at 6,417, the lowest since September 2023, while $1 million+ transfers have dropped to 1,485, the lowest since October 2024. Bitcoin also dipped under $68,000 earlier before rebounding to $70,800.

On March 26, 2026, Franklin Templeton said it is working with Ondo Finance to place five ETFs onto public blockchains, with an initial launch planned outside the U.S. The structure uses an SPV to hold ETF shares at U.S.-registered broker-dealers while issuing 1:1 backed tokens that represent return rights and automatically reinvest dividends. The move comes as tokenized stocks approach ~$951M in total value and monthly transfer volume rises past $2.6B, alongside a tokenized Treasury market that has exceeded $11B by March 2026.