Overview
- Bitcoin recovered from a Feb. 28 drop to about $63,062 after U.S.–Israeli strikes on Iran, trading near the mid-$66,000s by March 1.
- On-chain URPD indicates heavy holder concentration around $63,111 with a thin supply zone down to roughly $46,702, raising the risk of swift downside if $63,111 breaks.
- Analyst Ali Martinez also points to secondary demand clusters near $41,653 and $37,867 that may attract buyers if selling intensifies.
- Technical analysts say a sustained move above $68,000 could target $72,000–$74,000 in the near term, a scenario framed as conditional by TedPillows.
- iShares Bitcoin Trust (IBIT) shows neutral oscillator readings but widespread moving-average sell signals, reflecting short- to mid-term caution.